KPIT Technologies, a provider of software solutions for the automotive sector, expects its foray into trucks and off-highway segments to contribute to growth from the second half of the next financial year. The company, which has been expanding its presence in these sub-verticals, shared this update in its Q3 FY25 investor report.
"We have been developing new sub-verticals, viz. trucks and off-highway. There are sizeable opportunities through these investments, and they are now contributing to building our pipeline across geographies. These will contribute to our growth from the second half of the next financial year," said Sachin Tikekar, Co-founder and Joint Managing Director of KPIT.
KPIT has also been strengthening relationships with passenger car and lorry manufacturers in China and parts of Europe beyond Germany. The company, which had announced its intent to focus on off-highway applications in October 2023, sees potential in agriculture, mining, and construction equipment. While trucks remain its primary focus within the commercial vehicle (CV) segment, its core business continues to come from passenger vehicles.
In terms of new offerings, Tikekar noted increased interest from the company's top 25 clients in areas such as vehicle cost reduction, cybersecurity, and data-driven services. "Our attrition remains at all-time low levels, and our leadership development programmes are in full swing to further enhance our continued growth," he added.
Financially, KPIT reported a 20.4% rise in net profit to ₹187 crore for the quarter ended December 2024, compared to ₹156 crore in the same period last year. Revenues grew 17.6% year-on-year to ₹1,478 crore. The company secured deals worth $236 million during the quarter.