Eyeing $1 bn revenue, Happiest Minds revamps organisational structure

Bengaluru-based Happiest Minds Technologies has created a new vertical-led organisational structure comprising six new industry groups (IG), as part of its strategy to touch $1 billion in revenue by 2031. It clocked revenues of $178 million in 2023, up 30.7 per cent year-on-year.

The six IGs are: Industrial, Manufacturing and Energy & Utilities; Healthcare & Life Sciences; Retail, Consumer Packaged Goods (CPG) and Logistics; Banking, Financial Services, and Insurance (BFSI); Hi-Tech and Media & Entertainment; and EdTech.

“The potential of this new structure is immense and it 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,” said Ashok Soota, executive chairman, Happiest Minds.

Each new industry group will be led by a head who will frame the strategy, business plan, go-to-market, sales, domain capability, and overall customer and people experience. “Each IG cluster will have dedicated teams with deep domain expertise, specialist business development managers for existing account growth, and in-house consulting capabilities,” the company said.

The vertical head will also be responsible for the profit and loss, selling generative artificial intelligence business services (GBS) to existing and potential accounts, along with other information technology services.

“This verticalisation is a major event in the evolution and growth of Happiest Minds, changing the foundations of our organisational structure, while significantly augmenting our sales prowess and accelerating growth. Each industry group will have dedicated teams with deep domain expertise, allowing for customised solutions, and faster response times, thus enhancing our agility and driving innovation, leading to increased customer happiness and sustainable growth,” said Joseph Anantharaju, executive vice-chairman and chief executive officer of Product & Digital Engineering Services.

Poornima Bethmangalkar, general manager, will lead the Industrial, Manufacturing and Energy & Utilities vertical. Vice-President Priya Prasad will lead the Retail, CPG and Logistics vertical; and Vice-President Srinivas Iyengar will lead the Healthcare and Life Sciences vertical.

The BFSI vertical will be led by Vice-President Subhasis Bandyopadhyay, while Viswanath Subramaniam, vice-president, will lead the EdTech vertical. The IG head for Hi-Tech and Media & Entertainment will be announced in the coming weeks. All the IG heads will report to Anantharaju.