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Software companies in the engineering, research and development (ER&D) segment have outperformed their IT services peers on expectations of a faster growth trajectory in FY22, compared to the performance of the overall software industry.
While the BSE Information Technology index has gained 11 per cent in the last three months, ER&D players such as L&T Technology Services (LTTS), Cyient, and Tata Elxsi have risen 15-60 per cent during this period.
Most ER&D firms are expected to post a low double-digit decline in FY21, after falling substantially in the first half of FY21; a recovery in the December quarter has helped them cushion
