Key Points
- EPAM opens its third office in Pune, India.
- India is EPAM’s second-largest global delivery center.
- The Pune office spans 30,000 square feet and has over 200 seats.
- EPAM’s India workforce is set to reach 10,000 employees by Q1 2025.
- Pune’s growth is fueled by the city’s skilled talent and opportunities in the banking and financial services sector.
- EPAM’s revenue for Q3 2024 was $1.168 billion, with a full-year revenue forecast of $4.685 billion to $4.695 billion.
Looma News
EPAM, a US-based company that specializes in digital transformation and product engineering, has expanded its presence in India by opening a third office in Pune. This new office follows earlier expansions in Bengaluru and Chennai earlier this year. India has become EPAM’s second-largest global delivery center, reflecting the company’s growth in the country.
Srinivas Reddy, Managing Director at EPAM India, shared that Pune was one of the first locations where the company set up shop after acquiring Alliance Global Services in 2015. The Pune office covers 30,000 square feet and offers more than 200 seats, including a large lab. It will mainly serve as an offshore development center for EPAM’s clients. The company is keeping a hybrid work policy, encouraging a collaborative atmosphere. Currently, over 2,000 employees are based in Pune.
EPAM’s total headcount in India is nearing 9,600, and the company plans to grow this number to around 10,000 by the first quarter of 2025. Jason Peterson, EPAM’s CFO, pointed out that Pune’s rapid growth is due to its strong educational institutions and a wealth of skilled talent, particularly in the financial services sector. The company has also built strong ties with banks and insurance companies in Pune, which has helped drive expansion, especially in the banking, financial services, and insurance (BFSI) sector, making up 25% of EPAM’s business both globally and in India.
For Q3 2024, EPAM reported $1.168 billion in revenue, showing a 1.3% increase from the same period last year. The company has adjusted its full-year revenue forecast to between $4.685 billion and $4.695 billion, with expected revenues for the fourth quarter ranging from $1.205 billion to $1.215 billion. As of September 30, 2024, EPAM’s total global headcount stood at around 53,250 employees, including 47,750 delivery professionals, which is a 1.6% increase from the previous quarter.
