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Home > Equity Market > Persistent Systems Ltd.- Company History >

Persistent Systems Ltd.- Company History

Industry: Computers - Software
BSE Code :533179
Business Group:Not Applicable
LTP (Rs.) :1623.1  (1.48%) [NSE]
ISIN No :INE262H01013
Face Value/M Lot :10.00/1
P/E Ratio : 26.12
Market Cap : 6492.40 Cr
The company history sections lists out major chronological events that happened to the company.
Our Company was incorporated as Persistent Systems Private Limited on May 30, 1990. Our Company wassubsequently converted into a public limited company on September 17, 2007 with the name Persistent SystemsLimited and a new certificate of incorporation was issued on September 28, 2007 from the RoC.

Changes in Registered Office

The registered office of our Company was changed from =Renuka', 39/54, Erandvana, Lane 9B, Prabhat Road,Pune 411 004 to =Panini', 2 A, Senapati Bapat Road, Pune 411 016 with effect from May 4, 2000 pursuant to a resolution of the Board dated May 5, 2000 and subsequently, our registered office was changed to its present location being =Bhageerath', 402, Senapati Bapat Road, Pune 411 016 with effect from October 19, 2001 pursuant to a resolution of the Board on October 19, 2001. The changes in registered office were for administrative reasons.

Key events and milestones


-Incorporated on May 30, 1990


-Received the First Prize from Government of Maharashtra, Small Scale Division for Export performance.


-Received the First Prize from Government of Maharashtra, Small Scale Division for Export performance.


-Received the First Prize from Government of Maharashtra, Small Scale Division for Export performance.


-Recognised as a Microsoft Solution Provider for demonstrated expertise and commitment to providing business solutions based on Microsoft products.

-Started operations at =Panini` new owned premises at Pune, India


-Introduced employees stock options scheme.

-Became one of the first companies in Asia to receive an investment from Intel 64 LLC.


-Investment by Intel 64 LLC.

-- Started operations at =Bhageerath' new state-of-the-art owned premises at Pune, India

- Appointed three Independent Directors on the Board

-Set up Persistent Systems, Inc., our wholly owned subsidiary in U.S.A.


-Microsoft award on outstanding contribution to the Microsoft Development Network Community.

--Our product "DEnList Report Server≠™ wins CSI-Infosys Award 2001 for best shrink-wrapped software product


-Set up a branch office at Edinburgh, Scotland, UK

-Development center at Nagpur, India became operational

-Ranked as the 11th fastest growing Indian company in the .Technology Fast 500 Asia Pacific 2004 Winner Report≠r of Deloitte


-Joined Microsoft RFID partners council

- Set up a branch office at Tokyo, Japan.

- Ranked as the 22nd fastest growing Indian technology company as per .Technology Fast 500 Asia Pacific Ranking and CEO Survey 2005 Report≠r by Deloitte

-Company joins the Microsoft RFID partners council


-Acquired Goa based ControlNet (India) Private Limited.

-Started operations at =Pingala-Aryabhata`, new owned premises at Pune, India.

-Joint investment by Norwest and Gabriel.

-Investment by Intel Mauritius

-Ranked 37th among the top 50 fastest growing Indian technology companies by Deloitte Touch"›, Asia Pacific, 2006


-Became a Search Appliance Partner` for Google Inc.

-Received the IT Enterprise (Special Awards) for the Maharashtra Information Technology Award for the year 2007 from Government of Maharashtra for our Nagpur unit

-Ranked amongst the top 500 companies in the .Deloitte Technology Fast 500 Asia Pacific 2007≠r report

-Winner of the .Red Herring 100 Global≠r award 2007

-Won Market Growth Strategy Award for OPD Market for the FY 2007 for Mid-market

-Ranked 84th in .Electronics For You "CTop 100 Companies≠r based on revenue


-Converted into a public limited company by a special resolution passed at the EGM held on September 17, 2007. The fresh certificate of incorporation consequent on conversion was issued to our Company on September 28, 2007 by the RoC.

-Ranked 40th as per total income, in Dun and Bradstreet's India's Top IT Companies 2008

- Signed an asset purchase and sale agreement with Metrikus (India) Private Limited, Hyderabad, India and accordingly set up Hyderabad branch office.

-Opened a branch office at Rotterdam, The Netherlands

-Formed a wholly owned subsidiary, Persistent Systems Pte. Ltd. in Singapore

-Set up branch offices at Ottawa and Vancouver, Canada

-Received an ISO27001:2005 Certification for Pune (except Hinjewadi), Nagpur and Goa


-Set up a branch office at Quebec, Canada

-Formed a wholly owned Subsidiary, Persistent Systems and Solutions Limited in Pune, India

-Formed a public charitable institute, Persistent Foundation to institutionalise our Corporate Social Responsibility initiative.

-Featured in the Delloitte Technology Fast 500 Asia Pacific 2009 Ranking

-Won the NASSCOM Innovation Award for 2008, in the .Market Facing "C Business Process and Business Model category.

-Won the Institute of Chartered Accountants of India ("DICAI≠™) Award for excellence in financial reporting.

-Ranked 9th on Fast Company≠rs Fast 50 Readers Favorites of 2008 in the companies using .business as a force of positive change and helping its customers≠r

-Ranked as a Top Twelve IT Outsourcing Vendor of manufacturing and supply chain services to the life sciences market.


-Acquired certain assets of Paxonix, Inc., a subsidiary of MeadWestvaco Corporation through the wholly owned subsidiary of our Company viz. Persistent Systems, Inc.

-Received DIN EN ISO 9001:2008 certification for the software design, development, testing, support, enhancement services for the ChemLMS Product.

-Persistent Systems Ltd has appointed Mr. Prakash Telang and Mr. Kiran Umrootkar as Additional Directors of the Company with effect from August 19, 2010, to hold office upto the date of the next Annual General Meeting of the Company.


-Persistent Systems Wins Titanium Award at the Asset Triple A Corporate Awards 2010.

-M/1M Announces Partnership with Persistent Systems; CowardEngineering First Beneficiary.

-Persistent Systems buys US firm Infospectrum.

-Sprint Nextel and Persistent Systems Enters into a Joint Venture.

-Persistent Systems Recognized as a Leading Player in the Cloud Computing and Software / ISV R&D Segments by Zinnov Management Consulting.

-Persistent Systems Partners with IL&FS Education for Developing Mobile Based Learning Applications.

-Persistent Systems Expands Presence in Nagpur; Inaugurates New Facility.


-Persistent Systems Offers Academic Research Grant To Indiana University.

-Persistent Systems Ranked for Excellence in Corporate Governance by ICSI.

-Persistent Systems Develops Exploriments Mobile Learning Apps for Global iPad Community.

-Persistent Systems Announces Strategic Solutions with IBM InfoSphere Biginsights.

-Persistent Systems Unveils Modern Enterprise Applications at E2 Innovate 2012.

-Persistent Systems' eMee Helps TCabs Launch Exclusive Cab Miles Program.

Visit the Persistent Systems Ltd. company profile page for more information on the company. Learn about Persistent Systems Ltd. company history , share holding pattern , board of directors & key executives . Get live equity market updates & browse through breaking news stories from the Indian share market.

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