India, February 9, 2026: Happiest Minds Technologies Limited (NSE:HAPPSTMNDS), an AI-first digital engineering and Mindful IT company, has reported consolidated results for the third quarter ending December 31, 2025, approved by its Board of Directors. The results indicate a steady growth trajectory as the company embraces its AI-focused strategy.
Ashok Soota, Chairman & Chief Mentor, emphasized the launch of “AI First” as the company’s 11th strategic transformation. He stated, “With AI First. Agile Always., we have launched AI First as our 11th strategic transformation, supported by 11 strategic programs that together define how Happiest Minds will build, deliver, and scale value in an AI-driven world.” Soota pointed to the operationalization of AI across the company and its clients as evidence of the strategy’s effectiveness, adding that recent AI developments represent an “opportunity, not a threat” for Happiest Minds and other IT services companies.
Sridhar Mantha, CEO of Generative AI Business Services, noted that a crucial element of this journey is the AI Services Delivery Platform, designed for speed, scale, and value. This platform integrates proven frameworks and intelligent agents, facilitating the transition of AI initiatives from pilot stages to full production. “Solutions built on this platform are delivering tangible outcomes today,” he remarked, highlighting its implementation in the healthcare sector and plans to expand its use across various industries.
Happiest Minds’ AI First approach encompasses four key areas: developing advanced AI solutions, AI-native software development, IT service management (ITSM), and cybersecurity. The company is deploying AI assistants that exceed traditional chatbots, as well as domain-specific copilots embedded in workflows, and intelligent search tools to enhance productivity. In operational contexts, Happiest Minds is leveraging AI-powered support agents, sales automation, and predictive insights aimed at cost reduction and improved performance.
The company has successfully scaled 32 Generative AI and Agentic AI use cases beyond prototypes, many of which are evolving into full-scale projects across various sectors. Recent partnerships illustrate the shift from experimentation to impactful business transformations, including a collaboration with a premium interiors retailer in Australia to develop a GenAI-powered sales assistant for product discovery and customer onboarding.
Joseph Anantharaju, Co-Chairman & CEO of Happiest Minds, expressed confidence in the company’s position as India’s leading AI-first and customer-centric digital engineering company. He noted, “AI First also aligns with our customers’ shift from using AI at the edges to making it the core of their business strategy.” He highlighted the potential of the Agentic AI approach combined with human developers to modernize applications and address tech debt efficiently.
Venkatraman Narayanan, Managing Director, reported a healthy growth in revenue and operating margins, stating that the adjusted profit after tax (PAT) for the quarter was 11.6%, an increase from 11.0% in the previous quarter. He attributed this performance to robust cash flows and a commitment to long-term value creation through the AI First strategy, announcing plans to double AI/GenAI investments and build a dedicated team of over 1,000 by FY27.
In financial terms, the quarter ended December 31, 2025, saw revenue growth of 1.2% quarter-on-quarter and 7.1% year-on-year in constant currency. Operating revenues in U.S. dollars reached $65.7 million, reflecting a 1.0% quarter-on-quarter and 4.8% year-on-year growth. The total income for the period was ₹60,328 lakhs, with an EBITDA of ₹12,283 lakhs, maintaining a margin of 20.4%. The nine-month period ending December 31, 2025, also indicated a revenue growth of 10.2% year-on-year and an EBITDA margin of 20.6%.
As of December 31, 2025, Happiest Minds has grown its client base to 297, adding 11 new clients in the quarter. The workforce stands at 6,548, with a trailing 12-month attrition rate of 17.4% and a utilization rate of 82%, up from 80.7% in the previous quarter.
Recent key wins include partnering with a global FMCG leader to monitor vendors against regulatory watchlists and defining an AI roadmap for a top U.S.-based insurance provider. The company has also been recognized for its excellence in various areas, winning the Best Use of AI in DevOps award at the 9th Edition of India DevOps Show 2025, among other accolades.
Looking ahead, Happiest Minds is positioning itself to leverage AI-driven opportunities in a rapidly evolving market, aiming to enhance productivity and drive substantial value for its clients as enterprises increasingly adopt AI as a core element of their business strategies.
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