{"id":330269,"date":"2026-10-28T12:36:10","date_gmt":"2026-10-28T07:06:10","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=330269"},"modified":"2026-10-28T12:36:10","modified_gmt":"2026-10-28T07:06:10","slug":"business-process-management-firm-engineering-r-d-services-company-and-telecom-technology-services-provider-stocks-roadmap-nimbus-list","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/business-process-management-firm-engineering-r-d-services-company-and-telecom-technology-services-provider-stocks-roadmap-nimbus-list\/","title":{"rendered":"3 Business Process Management Firm, Engineering R&#038;D Services Company and Telecom Technology Services Provider Stocks With a Strong Future Roadmap: Firstsource Solutions, L&#038;T Technology Services and Tech Mahindra"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Firstsource Solutions, L&#038;T Technology Services and Tech Mahindra: ROE of 17.1% to 21.7% and FY22 to FY26 revenue CAGR of 5.6% to 13.7%. Prices as of 27 Oct 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">The three business process and engineering services stocks to watch are Firstsource Solutions, L&#038;T Technology Services and Tech Mahindra. Their return on equity ranges from 17.1% to 21.7%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.6% to 13.7%. L&#038;T Technology Services leads on both return on equity at 21.7% and revenue growth at 13.7% a year. Prices are based on the 27 October 2026 close, and this article is educational, not investment advice.<\/p>\n<\/div>\n<p>Business process and engineering services stocks bring together companies with a visible plan for the years ahead. Firstsource Solutions, L&#038;T Technology Services and Tech Mahindra cover a business process management firm, an engineering R&#038;D services company and a telecom technology services provider.<\/p>\n<p>This list covers three business process and engineering services stocks with complete current figures: Firstsource Solutions, L&#038;T Technology Services and Tech Mahindra. Every figure comes from the latest reported financials and the 27 October 2026 market close. Companies without complete current figures were left out.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=business-process-management-firm-engineering-r-d-services-company-and-telecom-technology-services-provider-stocks-roadmap-nimbus-list\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/business-process-management-firm-engineering-r-d-services-company-and-telecom-technology-services-provider-stocks-roadmap-nimbus-list\/#What_Are_Business_Process_and_Engineering_Services_Stocks\" title=\"What Are Business Process and Engineering Services Stocks?\">What Are Business Process and Engineering Services Stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/business-process-management-firm-engineering-r-d-services-company-and-telecom-technology-services-provider-stocks-roadmap-nimbus-list\/#Business_Process_and_Engineering_Services_Stocks_at_a_Glance\" title=\"Business Process and Engineering Services Stocks at a Glance\">Business Process and Engineering Services Stocks at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/business-process-management-firm-engineering-r-d-services-company-and-telecom-technology-services-provider-stocks-roadmap-nimbus-list\/#Why_Do_Business_Process_and_Engineering_Services_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Business Process and Engineering Services Stocks Have a Strong Roadmap in India?\">Why Do Business Process and Engineering Services Stocks Have a Strong Roadmap in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/business-process-management-firm-engineering-r-d-services-company-and-telecom-technology-services-provider-stocks-roadmap-nimbus-list\/#Why_Firstsource_Solutions_Features_Among_These_Business_Process_and_Engineering_Services_Stocks\" title=\"Why Firstsource Solutions Features Among These Business Process and Engineering Services Stocks\">Why Firstsource Solutions Features Among These Business Process and Engineering Services Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/business-process-management-firm-engineering-r-d-services-company-and-telecom-technology-services-provider-stocks-roadmap-nimbus-list\/#Why_L_T_Technology_Services_Features_Among_These_Business_Process_and_Engineering_Services_Stocks\" title=\"Why L&#038;T Technology Services Features Among These Business Process and Engineering Services Stocks\">Why L&#038;T Technology Services Features Among These Business Process and Engineering Services Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/business-process-management-firm-engineering-r-d-services-company-and-telecom-technology-services-provider-stocks-roadmap-nimbus-list\/#Why_Tech_Mahindra_Features_Among_These_Business_Process_and_Engineering_Services_Stocks\" title=\"Why Tech Mahindra Features Among These Business Process and Engineering Services Stocks\">Why Tech Mahindra Features Among These Business Process and Engineering Services Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/business-process-management-firm-engineering-r-d-services-company-and-telecom-technology-services-provider-stocks-roadmap-nimbus-list\/#Firstsource_Solutions_vs_L_T_Technology_Services_vs_Tech_Mahindra_on_Key_Financials\" title=\"Firstsource Solutions vs L&#038;T Technology Services vs Tech Mahindra on Key Financials\">Firstsource Solutions vs L&#038;T Technology Services vs Tech Mahindra on Key Financials<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/business-process-management-firm-engineering-r-d-services-company-and-telecom-technology-services-provider-stocks-roadmap-nimbus-list\/#Key_Risks_to_Check_Before_Investing_in_Business_Process_and_Engineering_Services_Stocks\" title=\"Key Risks to Check Before Investing in Business Process and Engineering Services Stocks\">Key Risks to Check Before Investing in Business Process and Engineering Services Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/business-process-management-firm-engineering-r-d-services-company-and-telecom-technology-services-provider-stocks-roadmap-nimbus-list\/#Final_Thoughts_on_Business_Process_and_Engineering_Services_Stocks\" title=\"Final Thoughts on Business Process and Engineering Services Stocks\">Final Thoughts on Business Process and Engineering Services Stocks<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/business-process-management-firm-engineering-r-d-services-company-and-telecom-technology-services-provider-stocks-roadmap-nimbus-list\/#What_are_business_process_and_engineering_services_stocks\" title=\"What are business process and engineering services stocks?\">What are business process and engineering services stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/business-process-management-firm-engineering-r-d-services-company-and-telecom-technology-services-provider-stocks-roadmap-nimbus-list\/#Which_business_process_and_engineering_services_stocks_are_covered_in_this_list\" title=\"Which business process and engineering services stocks are covered in this list?\">Which business process and engineering services stocks are covered in this list?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/business-process-management-firm-engineering-r-d-services-company-and-telecom-technology-services-provider-stocks-roadmap-nimbus-list\/#Why_do_business_process_and_engineering_services_stocks_have_a_strong_future_roadmap_in_India\" title=\"Why do business process and engineering services stocks have a strong future roadmap in India?\">Why do business process and engineering services stocks have a strong future roadmap in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/business-process-management-firm-engineering-r-d-services-company-and-telecom-technology-services-provider-stocks-roadmap-nimbus-list\/#How_has_Firstsource_Solutions_performed_financially\" title=\"How has Firstsource Solutions performed financially?\">How has Firstsource Solutions performed financially?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/business-process-management-firm-engineering-r-d-services-company-and-telecom-technology-services-provider-stocks-roadmap-nimbus-list\/#How_has_L_T_Technology_Services_performed_financially\" title=\"How has L&#038;T Technology Services performed financially?\">How has L&#038;T Technology Services performed financially?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/business-process-management-firm-engineering-r-d-services-company-and-telecom-technology-services-provider-stocks-roadmap-nimbus-list\/#How_has_Tech_Mahindra_performed_financially\" title=\"How has Tech Mahindra performed financially?\">How has Tech Mahindra performed financially?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/business-process-management-firm-engineering-r-d-services-company-and-telecom-technology-services-provider-stocks-roadmap-nimbus-list\/#What_risks_should_investors_check_before_buying_business_process_and_engineering_services_stocks\" title=\"What risks should investors check before buying business process and engineering services stocks?\">What risks should investors check before buying business process and engineering services stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/business-process-management-firm-engineering-r-d-services-company-and-telecom-technology-services-provider-stocks-roadmap-nimbus-list\/#Is_this_list_of_business_process_and_engineering_services_stocks_investment_advice\" title=\"Is this list of business process and engineering services stocks investment advice?\">Is this list of business process and engineering services stocks investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Business_Process_and_Engineering_Services_Stocks\"><\/span><strong>What Are Business Process and Engineering Services Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Business process and engineering services stocks are listed services companies that run customer and back office operations, deliver engineering research and development and provide network and enterprise technology to global clients. Their earnings depend on client budgets, deal wins, utilisation and currency.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Business_Process_and_Engineering_Services_Stocks_at_a_Glance\"><\/span><strong>Business Process and Engineering Services Stocks at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Industry P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">ROE (%)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">D\/E<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/fsl\/firstsource-solutions-ltd-share-price-today\">Firstsource Solutions<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">298.75<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">19,489<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">29.1<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.5<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.1<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.67<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/ltts\/landt-technology-services-ltd-share-price-today\">L&#038;T Technology Services<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,174.2<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">41,952<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">27.2<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.9<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">21.7<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.08<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/techm\/tech-mahindra-ltd-share-price-today\">Tech Mahindra<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,811.4<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">175,398<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">31.5<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.6<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">18.6<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.07<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>On valuation, all three trade at a P\/E above their industry P\/E, which reflects the growth the market already expects from them. Readers comparing business process and engineering services stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Do_Business_Process_and_Engineering_Services_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Business Process and Engineering Services Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Business process and engineering services stocks have a strong roadmap in India because outsourcing of customer operations, engineering design work and telecom network upgrades keep widening the market for Indian services firms.<\/p>\n<ul>\n<li><strong>Process outsourcing.<\/strong> Banks and payers hand over customer operations.<\/li>\n<li><strong>Engineering work.<\/strong> Global makers outsource design and research.<\/li>\n<li><strong>Network upgrades.<\/strong> Telecom firms modernise their platforms.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Why_Firstsource_Solutions_Features_Among_These_Business_Process_and_Engineering_Services_Stocks\"><\/span><strong>Why Firstsource Solutions Features Among These Business Process and Engineering Services Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the business process and engineering services stocks on this list, Firstsource Solutions, an RPG group company, is a business process management firm serving banks, healthcare payers and providers, and other clients, mainly in the United States and the United Kingdom.<\/p>\n<p>Revenue rose from Rs 5,922 crore in FY22 to Rs 9,564 crore in FY26, a compound annual growth rate of 12.7%. Net profit grew from Rs 537 crore in FY22 to Rs 674 crore in FY26, which works out to a compound annual growth rate of 5.9%.<\/p>\n<p>In the June 2026 quarter, revenue grew 22.8% year on year to Rs 2,731 crore. The company has a return on equity of 17.1%, a debt to equity ratio of 0.67 and a market capitalisation of Rs 19,489 crore. The stock trades at a P\/E of 29.1, above the industry P\/E of 17.5.<\/p>\n<p><strong>Roadmap:<\/strong> It is growing in healthcare and mortgage services, pursuing larger deals and using artificial intelligence to improve productivity. Longer contracts with large clients give it visibility on revenue.<\/p>\n<p><strong>What to watch:<\/strong> Follow contract wins in healthcare and the pace of new technology investments.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_L_T_Technology_Services_Features_Among_These_Business_Process_and_Engineering_Services_Stocks\"><\/span><strong>Why L&#038;T Technology Services Features Among These Business Process and Engineering Services Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the process outsourcing and engineering R&#038;D shares on this list, L&#038;T Technology Services provides engineering and research and development services to global customers in transportation, industrial products, telecom, plant engineering and medical devices.<\/p>\n<p>Revenue rose from Rs 6,722 crore in FY22 to Rs 11,217 crore in FY26, a compound annual growth rate of 13.7%. Net profit grew from Rs 961 crore in FY22 to Rs 1,230 crore in FY26, which works out to a compound annual growth rate of 6.4%.<\/p>\n<p>The company has a return on equity of 21.7%, a debt to equity ratio of 0.08 and a market capitalisation of Rs 41,952 crore. The stock trades at a P\/E of 27.2, above the industry P\/E of 17.9.<\/p>\n<p><strong>Roadmap:<\/strong> The company is growing in areas such as electric mobility, software-defined products and sustainability, where manufacturers outsource design and testing. Deep domain skills help it win multi-year programmes.<\/p>\n<p><strong>What to watch:<\/strong> Follow large deal wins, margin trends and demand from transportation and technology clients.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Tech_Mahindra_Features_Among_These_Business_Process_and_Engineering_Services_Stocks\"><\/span><strong>Why Tech Mahindra Features Among These Business Process and Engineering Services Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the three companies on this list, Tech Mahindra is a Mahindra Group technology services company that provides digital, network and enterprise services to clients in telecom, manufacturing, banking and other industries worldwide.<\/p>\n<p>The company has a return on equity of 18.6%, a debt to equity ratio of 0.07 and a market capitalisation of Rs 175,398 crore. The stock trades at a P\/E of 31.5, above the industry P\/E of 17.6.<\/p>\n<p>Revenue rose from Rs 45,758 crore in FY22 to Rs 56,847 crore in FY26, a compound annual growth rate of 5.6%. Net profit grew from Rs 2,397 crore in FY24 to Rs 4,806 crore in FY26, which works out to a compound annual growth rate of 41.6%.<\/p>\n<p><strong>Roadmap:<\/strong> The company is investing in artificial intelligence, cloud and 5G related services and deepening ties with large clients. Large deal wins in telecom and enterprise work support its pipeline.<\/p>\n<p><strong>What to watch:<\/strong> Track large deal wins, margin improvement and demand from telecom and enterprise clients.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Firstsource_Solutions_vs_L_T_Technology_Services_vs_Tech_Mahindra_on_Key_Financials\"><\/span><strong>Firstsource Solutions vs L&#038;T Technology Services vs Tech Mahindra on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table below sets the three business process and engineering services stocks side by side on revenue, profit and margin, using reported figures.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY22 Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY26 Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Revenue CAGR (FY22-FY26)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY26 Net Profit (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY26 Net Margin<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Firstsource Solutions<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5,922<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9,564<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">12.7%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">674<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">7.1%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">L&#038;T Technology Services<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">6,722<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11,217<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">13.7%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,230<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11.0%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Tech Mahindra<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">45,758<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">56,847<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5.6%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,806<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">8.5%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>L&#038;T Technology Services posts the highest return on equity in this group at 21.7%. Tech Mahindra has the largest FY26 revenue at Rs 56,847 crore, and L&#038;T Technology Services shows the fastest revenue growth with a 13.7% compound annual rate.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Risks_to_Check_Before_Investing_in_Business_Process_and_Engineering_Services_Stocks\"><\/span><strong>Key Risks to Check Before Investing in Business Process and Engineering Services Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Every theme carries risks that deserve a check before any decision. For these business process and engineering services stocks, the main points are:<\/p>\n<ul>\n<li><strong>Deal timing.<\/strong> Large contracts can shift between periods.<\/li>\n<li><strong>Client budgets.<\/strong> Spending can vary with global conditions.<\/li>\n<li><strong>Currency moves.<\/strong> Export earnings move with the rupee.<\/li>\n<\/ul>\n<p>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.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Use the Univest Stock Screener<\/a><\/strong> to filter business process and engineering services stocks by market capitalisation, P\/E, ROE and growth, and build your own shortlist.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Final_Thoughts_on_Business_Process_and_Engineering_Services_Stocks\"><\/span><strong>Final Thoughts on Business Process and Engineering Services Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Business process and engineering services stocks suit investors who prefer to study business strength before price moves. Firstsource Solutions, L&#038;T Technology Services and Tech Mahindra each have a clear plan to grow. Based on the 27 October 2026 close, Firstsource Solutions trades at Rs 298.75, L&#038;T Technology Services at Rs 4,174.2 and Tech Mahindra at Rs 1,811.4.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track business process and engineering services stocks, set price alerts and get research-backed stock ideas.<\/em><\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> 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).<\/p>\n<\/div>\n<h3><span class=\"ez-toc-section\" id=\"What_are_business_process_and_engineering_services_stocks\"><\/span><strong>What are business process and engineering services stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Business process and engineering services stocks are listed services companies that run customer and back office operations, deliver engineering research and development and provide network and enterprise technology to global clients. Their earnings depend on client budgets, deal wins, utilisation and currency. This list looks at three of them, Firstsource Solutions, L&#038;T Technology Services and Tech Mahindra, using reported FY22 to FY26 financials and the 27 October 2026 closing prices.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_business_process_and_engineering_services_stocks_are_covered_in_this_list\"><\/span><strong>Which business process and engineering services stocks are covered in this list?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> This list covers Firstsource Solutions, L&#038;T Technology Services and Tech Mahindra. Based on the 27 October 2026 close, Firstsource Solutions traded at Rs 298.75, L&#038;T Technology Services at Rs 4,174.2 and Tech Mahindra at Rs 1,811.4. Their return on equity ranges from 17.1% to 21.7%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.6% to 13.7%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_do_business_process_and_engineering_services_stocks_have_a_strong_future_roadmap_in_India\"><\/span><strong>Why do business process and engineering services stocks have a strong future roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Business process and engineering services stocks have a strong roadmap in India because outsourcing of customer operations, engineering design work and telecom network upgrades keep widening the market for Indian services firms. The main drivers are as follows. Process outsourcing. Banks and payers hand over customer operations. Engineering work. Global makers outsource design and research. Network upgrades. Telecom firms modernise their platforms. Together these factors give the companies on this list a visible path for growth over the coming years.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Firstsource_Solutions_performed_financially\"><\/span><strong>How has Firstsource Solutions performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 5,922 crore in FY22 to Rs 9,564 crore in FY26, a compound annual growth rate of 12.7%. Net profit grew from Rs 537 crore in FY22 to Rs 674 crore in FY26, which works out to a compound annual growth rate of 5.9%. In the June 2026 quarter, revenue grew 22.8% year on year to Rs 2,731 crore. The company has a return on equity of 17.1%, a debt to equity ratio of 0.67 and a market capitalisation of Rs 19,489 crore. The stock trades at a P\/E of 29.1, above the industry P\/E of 17.5. Looking ahead, it is growing in healthcare and mortgage services, pursuing larger deals and using artificial intelligence to improve productivity. Longer contracts with large clients give it visibility on revenue.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_L_T_Technology_Services_performed_financially\"><\/span><strong>How has L&#038;T Technology Services performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 6,722 crore in FY22 to Rs 11,217 crore in FY26, a compound annual growth rate of 13.7%. Net profit grew from Rs 961 crore in FY22 to Rs 1,230 crore in FY26, which works out to a compound annual growth rate of 6.4%. The company has a return on equity of 21.7%, a debt to equity ratio of 0.08 and a market capitalisation of Rs 41,952 crore. The stock trades at a P\/E of 27.2, above the industry P\/E of 17.9. Looking ahead, the company is growing in areas such as electric mobility, software-defined products and sustainability, where manufacturers outsource design and testing. Deep domain skills help it win multi-year programmes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Tech_Mahindra_performed_financially\"><\/span><strong>How has Tech Mahindra performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 45,758 crore in FY22 to Rs 56,847 crore in FY26, a compound annual growth rate of 5.6%. Net profit grew from Rs 2,397 crore in FY24 to Rs 4,806 crore in FY26, which works out to a compound annual growth rate of 41.6%. The company has a return on equity of 18.6%, a debt to equity ratio of 0.07 and a market capitalisation of Rs 175,398 crore. The stock trades at a P\/E of 31.5, above the industry P\/E of 17.6. Looking ahead, the company is investing in artificial intelligence, cloud and 5G related services and deepening ties with large clients. Large deal wins in telecom and enterprise work support its pipeline.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_risks_should_investors_check_before_buying_business_process_and_engineering_services_stocks\"><\/span><strong>What risks should investors check before buying business process and engineering services stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Investors should check a few risks before buying business process and engineering services stocks. 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.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_list_of_business_process_and_engineering_services_stocks_investment_advice\"><\/span><strong>Is this list of business process and engineering services stocks investment advice?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. This article is educational and uses publicly available data as of the 27 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.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What are business process and engineering services stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Business process and engineering services stocks are listed services companies that run customer and back office operations, deliver engineering research and development and provide network and enterprise technology to global clients. Their earnings depend on client budgets, deal wins, utilisation and currency. This list looks at three of them, Firstsource Solutions, L&T Technology Services and Tech Mahindra, using reported FY22 to FY26 financials and the 27 October 2026 closing prices.\"}},{\"@type\":\"Question\",\"name\":\"Which business process and engineering services stocks are covered in this list?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"This list covers Firstsource Solutions, L&T Technology Services and Tech Mahindra. Based on the 27 October 2026 close, Firstsource Solutions traded at Rs 298.75, L&T Technology Services at Rs 4,174.2 and Tech Mahindra at Rs 1,811.4. Their return on equity ranges from 17.1% to 21.7%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.6% to 13.7%.\"}},{\"@type\":\"Question\",\"name\":\"Why do business process and engineering services stocks have a strong future roadmap in India?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Business process and engineering services stocks have a strong roadmap in India because outsourcing of customer operations, engineering design work and telecom network upgrades keep widening the market for Indian services firms. The main drivers are as follows. Process outsourcing. Banks and payers hand over customer operations. Engineering work. Global makers outsource design and research. Network upgrades. Telecom firms modernise their platforms. 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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.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Business Process and Engineering Services Stocks with a strong future roadmap: Firstsource Solutions, L&#038;T Technology Services and Tech Mahindra. 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