Happiest Minds Technologies has announced 10 strategic transformational changes aimed at driving growth and innovation amid industry disruption caused by macroeconomic shifts and the rapid rise of Generative AI (GenAI).
These changes, initiated in FY24 and extending into FY26, come after the completion of two key acquisitions—PureSoftware and Aureus–which led to a strong growth in FY25, chairman & chief mentor Ashok Soota said.
Acknowledging challenges faced by the IT industry in recent years, Soota emphasised the need for a shift towards a products and software-as-a-solutions driven approach.
“As the IT industry has come under pressure, I have been feeling that it needs to be strengthened by a products & SaaS solutions approach,” he said. A key part of this strategy includes Arttha, a banking product acquired through PureSoftware. “A product team is enhancing its capabilities and transitioning it to a SaaS platform. Both the product and SaaS solution will co-exist,” Soota said.
Happiest Minds’ changes span acquisitions, organisational restructuring, business unit creation, and a focus on key growth areas. To accelerate business expansion, the company has appointed a chief growth officer, Maninder Singh, who is responsible for driving net new sales.
The company is also developing a strategic approach to engage with private equity (PE) firms and their portfolio companies. “Happiest Minds has always had customers owned by PE firms, but we now see an opportunity to engage in a more structured manner,” co-chairman & CEO Joseph Anantharaju said.
The company aims to offer solutions tailored to the needs of PE firms, including security risk assessment, tech debt management, and innovation strategies. Additionally, Happiest Minds is focusing on global capability centres (GCCs), a segment that has seen rapid expansion. A key priority is the expansion of large accounts, with a strategy aimed at increasing the revenue of existing $2-3 million accounts to $10-20 million.
Lastly, the company plans to introduce HaaS (hardware-as-a-service) solution. The product will be launched in two phases, with the initial version expected by Q4, followed by a full HaaS solution in FY26.
The broader IT industry faces uncertainty due to concerns over a potential US slowdown or recession, which could impact global technology spending. Soota acknowledged these challenges, saying: “The market is predicting a US slowdown or recession. This has clouded the prospects for the Indian IT industry.” However, despite this, Happiest Minds remains optimistic. “We see no recession-driven slowdown. Thanks to our 10 transformational changes and our dedicated teams, we see a good view ahead for the next two years,” Soota said.
He further said the company expects to deliver double-digit organic growth in FY26 and FY27.