3 Banking Software Provider, Digital Engineering Firm and Global IT Services Group Stocks With a Strong Future Roadmap: Intellect Design Arena, Mastek and HCL Technologies
- October 29, 2026
- Posted by: Kunal Singla
- Category: Best Stocks
Intellect Design Arena, Mastek and HCL Technologies: ROE of 10.9% to 24.1% and FY22 to FY26 revenue CAGR of 11.0% to 14.2%. Prices as of 28 Oct 2026.
Quick Answer
The three banking software, digital engineering and IT to watch are Intellect Design Arena, Mastek and HCL Technologies. Their return on equity ranges from 10.9% to 24.1%, and their revenue compound annual growth from FY22 to FY26 ranges from 11.0% to 14.2%. HCL Technologies has the highest return on equity at 24.1%, while Mastek has the fastest revenue growth at 14.2% a year. Prices are based on the 28 October 2026 close, and this article is educational, not investment advice.
Banking software, digital engineering and IT bring together companies with a visible plan for the years ahead. Intellect Design Arena, Mastek and HCL Technologies cover a banking software provider, a digital engineering firm and a global IT services group.
This list covers three banking software, digital engineering and IT with complete current figures: Intellect Design Arena, Mastek and HCL Technologies. Every figure comes from the latest reported financials and the 28 October 2026 market close. Companies without complete current figures were left out.
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What Are Banking Software, Digital Engineering and IT?
Banking software, digital engineering and IT are listed technology companies that build software platforms for banks and insurers, deliver digital engineering and cloud projects for public sector and retail clients and provide software, infrastructure and engineering services to global enterprises. Their earnings depend on client budgets, deal wins and currency.
Banking Software, Digital Engineering and IT at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Intellect Design Arena | 594.15 | 8,952 | 25.5 | 17.5 | 10.9 | 0.05 |
| Mastek | 1,459.5 | 5,673 | 13.6 | 17.9 | 13.5 | 0.15 |
| HCL Technologies | 1,400.5 | 384,255 | 21.0 | 17.6 | 24.1 | 0.08 |
On valuation, Mastek trades at a P/E below the industry P/E, while Intellect Design Arena and HCL Technologies trade above it, which reflects the growth the market already expects. Readers comparing banking software, digital engineering and IT should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Banking Software, Digital Engineering and IT Have a Strong Roadmap in India?
Banking software, digital engineering and IT have a strong roadmap in India because banks and large enterprises keep upgrading core systems, moving work to the cloud and spending on data and automation, which widens the market for these software and services companies.
- Bank platforms. Lenders replace older core systems.
- Digital engineering. Public sector clients modernise services.
- Enterprise services. Large clients sign multi year contracts.
Why Intellect Design Arena Features Among These Banking Software, Digital Engineering and IT
Among the banking software, digital engineering and IT on this list, Intellect Design Arena is a Chennai-based financial technology company that sells software products for banking, insurance and capital markets, including transaction banking, consumer banking and risk platforms.
Revenue rose from Rs 1,919 crore in FY22 to Rs 3,161 crore in FY26, a compound annual growth rate of 13.3%. Net profit grew from Rs 269 crore in FY23 to Rs 343 crore in FY26, which works out to a compound annual growth rate of 8.5%.
In the June 2026 quarter, revenue grew 18.9% year on year to Rs 873 crore, while net profit rose 8.7% to Rs 102 crore. The company has a return on equity of 10.9%, a debt to equity ratio of 0.05 and a market capitalisation of Rs 8,952 crore. The stock trades at a P/E of 25.5, above the industry P/E of 17.5.
Roadmap: Banks and insurers are replacing older systems with cloud-ready platforms, and the company earns licence, subscription and implementation revenue from these programmes. Its product-led model supports recurring income from long-term client relationships.
What to watch: Follow new contract wins and the share of recurring revenue.
Why Mastek Features Among These Banking Software, Digital Engineering and IT
Among the financial technology and enterprise software shares on this list, Mastek is a digital engineering and cloud services company that serves clients in the United Kingdom, the United States and other regions, with a strong presence in public sector, retail and financial services.
In the June 2026 quarter, revenue grew 7.8% year on year to Rs 997 crore, while net profit rose 15.0% to Rs 106 crore. Revenue rose from Rs 2,220 crore in FY22 to Rs 3,769 crore in FY26, a compound annual growth rate of 14.2%.
Net profit grew from Rs 310 crore in FY23 to Rs 404 crore in FY26, which works out to a compound annual growth rate of 9.2%. The company has a return on equity of 13.5%, a debt to equity ratio of 0.15 and a market capitalisation of Rs 5,673 crore. The stock trades at a P/E of 13.6, below the industry P/E of 17.9.
Roadmap: The company is expanding its cloud, data and software engineering work and deepening ties with existing clients. A focus on repeat engagements supports steady revenue.
What to watch: Follow client additions, order book momentum and growth in cloud and data services.
Why HCL Technologies Features Among These Banking Software, Digital Engineering and IT
Among the three companies on this list, HCL Technologies is a Noida-headquartered global technology company that provides software services, engineering and R&D services, infrastructure management and its own software products to large enterprises.
The company has a return on equity of 24.1%, a debt to equity ratio of 0.08 and a market capitalisation of Rs 384,255 crore. The stock trades at a P/E of 21.0, above the industry P/E of 17.6.
Revenue rose from Rs 86,718 crore in FY22 to Rs 131,674 crore in FY26, a compound annual growth rate of 11.0%. Net profit grew from Rs 13,523 crore in FY22 to Rs 16,652 crore in FY26, which works out to a compound annual growth rate of 5.3%.
Roadmap: The company is building its business around cloud, data and artificial intelligence services and large multi-year deals with global clients. Its engineering services and software product lines add recurring revenue alongside core IT services.
What to watch: Monitor large deal wins, demand for artificial intelligence services and currency movements.
Intellect Design Arena vs Mastek vs HCL Technologies on Key Financials
The table below sets the three banking software, digital engineering and IT side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| Intellect Design Arena | 1,919 | 3,161 | 13.3% | 343 | 10.9% |
| Mastek | 2,220 | 3,769 | 14.2% | 404 | 10.7% |
| HCL Technologies | 86,718 | 131,674 | 11.0% | 16,652 | 12.6% |
HCL Technologies posts the highest return on equity in this group at 24.1%. HCL Technologies has the largest FY26 revenue at Rs 131,674 crore, and Mastek shows the fastest revenue growth with a 14.2% compound annual rate. A useful habit with banking software, digital engineering and IT is to check each new quarterly result against the capacity plans the company described earlier.
Key Risks to Check Before Investing in Banking Software, Digital Engineering and IT
Every theme carries risks that deserve a check before any decision. For these banking software, digital engineering and IT, the main points are: Long-term financial technology and enterprise software shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Deal timing. Large contracts can shift between periods.
- Client budgets. Spending can vary with global conditions.
- Currency moves. Export earnings move with the rupee.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter banking software, digital engineering and IT by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Banking Software, Digital Engineering and IT
Banking software, digital engineering and IT suit investors who prefer to study business strength before price moves. Intellect Design Arena, Mastek and HCL Technologies each have a clear plan to expand. Based on the 28 October 2026 close, Intellect Design Arena trades at Rs 594.15, Mastek at Rs 1,459.5 and HCL Technologies at Rs 1,400.5.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are banking software, digital engineering and IT?
Ans. Banking software, digital engineering and IT are listed technology companies that build software platforms for banks and insurers, deliver digital engineering and cloud projects for public sector and retail clients and provide software, infrastructure and engineering services to global enterprises. Their earnings depend on client budgets, deal wins and currency. This list looks at three of them, Intellect Design Arena, Mastek and HCL Technologies, using reported FY22 to FY26 financials and the 28 October 2026 closing prices.
Which banking software, digital engineering and IT are covered in this list?
Ans. This list covers Intellect Design Arena, Mastek and HCL Technologies. Based on the 28 October 2026 close, Intellect Design Arena traded at Rs 594.15, Mastek at Rs 1,459.5 and HCL Technologies at Rs 1,400.5. Their return on equity ranges from 10.9% to 24.1%, and their revenue compound annual growth from FY22 to FY26 ranges from 11.0% to 14.2%.
Why do banking software, digital engineering and IT have a strong future roadmap in India?
Ans. Banking software, digital engineering and IT have a strong roadmap in India because banks and large enterprises keep upgrading core systems, moving work to the cloud and spending on data and automation, which widens the market for these software and services companies. The main drivers are as follows. Bank platforms. Lenders replace older core systems. Digital engineering. Public sector clients modernise services. Enterprise services. Large clients sign multi year contracts. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Intellect Design Arena performed financially?
Ans. Revenue rose from Rs 1,919 crore in FY22 to Rs 3,161 crore in FY26, a compound annual growth rate of 13.3%. Net profit grew from Rs 269 crore in FY23 to Rs 343 crore in FY26, which works out to a compound annual growth rate of 8.5%. In the June 2026 quarter, revenue grew 18.9% year on year to Rs 873 crore, while net profit rose 8.7% to Rs 102 crore. The company has a return on equity of 10.9%, a debt to equity ratio of 0.05 and a market capitalisation of Rs 8,952 crore. The stock trades at a P/E of 25.5, above the industry P/E of 17.5. Looking ahead, banks and insurers are replacing older systems with cloud-ready platforms, and the company earns licence, subscription and implementation revenue from these programmes. Its product-led model supports recurring income from long-term client relationships.
How has Mastek performed financially?
Ans. Revenue rose from Rs 2,220 crore in FY22 to Rs 3,769 crore in FY26, a compound annual growth rate of 14.2%. Net profit grew from Rs 310 crore in FY23 to Rs 404 crore in FY26, which works out to a compound annual growth rate of 9.2%. In the June 2026 quarter, revenue grew 7.8% year on year to Rs 997 crore, while net profit rose 15.0% to Rs 106 crore. The company has a return on equity of 13.5%, a debt to equity ratio of 0.15 and a market capitalisation of Rs 5,673 crore. The stock trades at a P/E of 13.6, below the industry P/E of 17.9. Looking ahead, the company is expanding its cloud, data and software engineering work and deepening ties with existing clients. A focus on repeat engagements supports steady revenue.
How has HCL Technologies performed financially?
Ans. Revenue rose from Rs 86,718 crore in FY22 to Rs 131,674 crore in FY26, a compound annual growth rate of 11.0%. Net profit grew from Rs 13,523 crore in FY22 to Rs 16,652 crore in FY26, which works out to a compound annual growth rate of 5.3%. The company has a return on equity of 24.1%, a debt to equity ratio of 0.08 and a market capitalisation of Rs 384,255 crore. The stock trades at a P/E of 21.0, above the industry P/E of 17.6. Looking ahead, the company is building its business around cloud, data and artificial intelligence services and large multi-year deals with global clients. Its engineering services and software product lines add recurring revenue alongside core IT services.
What risks should investors check before buying banking software, digital engineering and IT?
Ans. Investors should check a few risks before buying banking software, digital engineering and IT. Deal timing. Large contracts can shift between periods. Client budgets. Spending can vary with global conditions. Currency moves. Export earnings move with the rupee. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of banking software, digital engineering and IT investment advice?
Ans. No. This article is educational and uses publicly available data as of the 28 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.
