Happiest Minds announces new vertical structure with six new industry groups

Indian IT firm Happiest Minds Technologies announced its new vertical organisation structure on Tuesday, comprising six new industry groups. These groups are Industrial, Manufacturing, and Energy & Utilities, Healthcare & Life Sciences, Retail, CPG, and Logistics, Banking, Financial Services, and Insurance (BFSI), Hi-Tech, and Media & Entertainment, and Edtech.

Ashok Soota, Executive Chairman at Happiest Minds, said, "The potential of this new structure is immense and will be the bedrock of new growth engines, enabling us to compete better in the global markets and realise our vision of reaching $1 billion in revenues by 2031."

"Each new Industry Group is led by an IG Head, responsible for the P&L, selling Generative AI Business Services (GBS) to existing and potential accounts, along with Product & Digital Engineering Services (PDES) and Infrastructure Management & Security Services (IMSS). Being a market-facing leadership role, the IG Head owns the IG strategy, business plan, GTM, sales, domain capability, and overall customer and people happiness. Each IG Cluster will have dedicated teams with deep domain expertise, specialist BDMs for existing account growth, and in-house consulting capabilities," said the IT firm in a regulatory filing.

Poornima Bethmangalkar will head the Industrial, Manufacturing, and Energy & Utilities group. Srinivas Iyengar will head Healthcare & Life Sciences as the VP and IG Head. Priya Prasad will lead the Retail, CPG & Logistics industry group, while Subhasis Bandyopadhyay will head the BFSI segment. Viswanath Subramaniam will be in charge of the EdTech industry group, with the head for Hi-Tech and Media & Entertainment to be announced in the coming weeks.

Joseph Anantharaju, Executive Vice-Chairman & CEO (Product & Digital Engineering Services), said, "This verticalisation is a major event in the evolution and growth of Happiest Minds, changing the foundations of our organisation structure while significantly augmenting our sales prowess and accelerating growth."

The IT firm declared its Q3 FY24 results on January 17, 2024. The topline increased by 11.72%, and the profit increased by 3.54% YoY. Compared to the previous quarter, the revenue grew by 0.8%, and the profit increased by 1.98%.

The company also announced that it was forming a Generative AI Business Services unit under its CTO. It also formed a new entity, Product Engineering Services (PDES), by combining its Product Engineering Services Business Units (PES) with its Digital Business Services Business Units (DBS), with this new vertical being headed by Anantharaju.