Pune, India | 19th October 2022 | NSE: KPITTECH BSE: 542651: KPIT, a leading partner for accelerating the transformation towards Software-Defined Vehicle to the automotive and mobility industry announced financial results for Q2 FY23 results today.
TCV of new engagements won during Q2 FY23: $ 142 million
Commenting on the performance of Q2 FY 23
Kishor Patil, Co-founder, CEO and MD, KPIT said,
“Software is at the heart of the transformation that the mobility industry is witnessing. KPIT’s position as a leader in this transformation is leading to consistency in performance and long- term visibility of growth. Q2FY23 performance has been better than expectations. We have a healthy pipeline with a couple of mega engagements expected to get closed in the coming 3-4 months. We have thus raised our FY23 growth outlook to 31%-32%. The organic growth outlook is 200+ bps higher than the higher end of the 18%-21% outlook at the beginning of the year”.
Sachin Tikekar, President and Joint MD, KPIT said,
“Vehicle makers are investing heavily to develop Software Defined Vehicles (SDVs) of tomorrow. This calls for deep domain expertise and software competence, which KPIT brings to the table. We are seeing the result of this and thus witnessing increased traction with our Strategic Clients. The supply side constraints are gradually moving in the right direction with attrition numbers consistently on the decline. We are very excited with the addition of Technica to the KPIT family with the closing effected in October 2022”.
KPIT Technologies is a global partner to the automotive and mobility ecosystem for making software- defined vehicles a reality. It is a leading independent software development and integration partner helping mobility leapfrog towards a clean, smart, and safe future. With 10000+ automobelievers across the globe specializing in embedded software, AI, and digital solutions, KPIT accelerates its clients’ implementation of next-generation technologies for the future mobility roadmap. With engineering centers in Europe, the USA, Japan, China, Thailand, and India, KPIT works with leaders in automotive and mobility and is present where the ecosystem is transforming.
For more details visit www.kpit.com
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