KPIT Technologies, continues to be bullish on the future of mobility industry, in fact, Kishor Patil, Co-Founder, CEO & MD, stated that the automakers are moving to newer business models, wherein its not about just selling a car, but also offer new services and solutions to continue their engagement with customers.
“OEMs moving to business models to customers for additional services, data, and thus need to move from hardware-based vehicles to Software Defined Vehicles,” he said.
Interestingly, the company which has continued to see a strong financial performance, believes that it will continue to see almost 85 percent of revenues come from existing clients, with a large majority or about 80 percent of the business coming from the passenger vehicle segment, the remaining from commercial vehicle and off-road segments.
“We aim to add 2-3 clients globally in FY2025,” added Sachin Tikekar, President & Join MD, KPIT Technologies.
KPIT posts Rs 155 crore net profit for Q3 FY2024
At present, the commercial vehicle segment contributes around 20% of business with the company “going deeper and wider programs with its existing 3 clients.” The idea is to also invest in the off-highway segment by understanding different applications and painpoints of the customers. “That work already started. Given the high growth in passenger vehicle, the percentage growth in CV & off-road space will be higher in the coming few years,” said Tikekar.
Focussing on vehicles that will come in the market 2026-27, we are working on the new technologies that will come in the vehicles in the future.
What’s more KPIT Technologies has also revealed that its recent investment in AirConsole (owned by N-Dream) is also progressing well. The first of its in-car gaming experience will soon be rolled out in BMW i7 in the European market.
“We also want to bring this to the Indian market,” said Patil.
When queried about the future growth plans, the company said it remained bullish on the programs of its clients, which will see its solutions and the vehicles hit the market in 2026-27. “We are working on the new technologies that will come in the vehicles in the future,” concluded Patil.
