3 Applications and Cloud Services Firm, Engineering and Research Services Provider and Banking Software Developer Stocks With a Strong Future Roadmap: Mphasis, L&T Technology Services and Oracle Financial Services Software

Mphasis, L&T Technology Services and Oracle Financial Services Software: ROE of 17.3% to 33.7% and FY22 to FY26 revenue CAGR of 7.5% to 13.7%. Prices as of 23 Oct 2026.

Updated: 26 Oct 2026 • 4:39 pm

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3 Applications and Cloud Services Firm, Engineering and Research Services Provider and Banking Software Developer Stocks With a Strong Future Roadmap: Mphasis, L&T Technology Services and Oracle Financial Services Software

Quick Answer

The three banking software, engineering and IT stocks to watch are Mphasis, L&T Technology Services and Oracle Financial Services Software. Their return on equity ranges from 17.3% to 33.7%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.5% to 13.7%. Oracle Financial Services Software has the highest return on equity at 33.7%, while L&T Technology Services has the fastest revenue growth at 13.7% a year. Prices are based on the 23 October 2026 close, and this article is educational, not investment advice.

Banking software, engineering and IT stocks give investors a way to track businesses that sit close to everyday demand in India. Mphasis, L&T Technology Services and Oracle Financial Services Software cover an applications and cloud services firm, an engineering and research services provider and a banking software developer.

This list covers three banking software, engineering and IT stocks with complete current figures: Mphasis, L&T Technology Services and Oracle Financial Services Software. Every figure comes from the latest reported financials and the 23 October 2026 market close. Companies without complete current figures were left out.

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Table of Contents

What Are Banking Software, Engineering and IT Stocks?

Banking software, engineering and IT stocks are listed technology companies that build applications, run engineering and design work and sell core banking software. Their earnings depend on client budgets, deal wins, product licences and utilisation.

Banking Software, Engineering and IT Stocks at a Glance

Company	CMP (Rs)	Market Cap (Rs Cr)	P/E	Industry P/E	ROE (%)	D/E
Mphasis	2,480	47,695	25.0	17.5	17.3	0.24
L&T Technology Services	3,910.3	41,952	27.2	17.9	21.7	0.08
Oracle Financial Services Software	9,677	86,056	25.2	17.9	33.7	0.00

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 banking software, engineering and IT stocks 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, Engineering and IT Stocks Have a Strong Roadmap in India?

Banking software, engineering and IT stocks have a strong roadmap in India because banks upgrade core systems, global makers outsource design work and cloud adoption keeps lifting technology budgets.

Bank upgrades. Lenders modernise core systems.
Engineering outsourcing. Global makers outsource design work.
Cloud projects. Clients move applications to the cloud.

Why Mphasis Features Among These Banking Software, Engineering and IT Stocks

Among the banking software, engineering and IT stocks on this list, Mphasis is a Bengaluru-based IT services company that provides applications, cloud, data and consulting services to clients in banking, insurance and technology, especially in the United States.

Revenue rose from Rs 12,122 crore in FY22 to Rs 16,206 crore in FY26, a compound annual growth rate of 7.5%. Net profit grew from Rs 1,431 crore in FY22 to Rs 1,863 crore in FY26, which works out to a compound annual growth rate of 6.8%.

In the June 2026 quarter, revenue grew 17.1% year on year to Rs 4,467 crore, while net profit rose 10.8% to Rs 490 crore. The company has a return on equity of 17.3%, a debt to equity ratio of 0.24 and a market capitalisation of Rs 47,695 crore. The stock trades at a P/E of 25.0, above the industry P/E of 17.5.

Roadmap: The company has stressed an AI-led approach and strengthened its sales relationships with large clients. A broad client base in financial services provides recurring revenue, and its investments in cloud and data skills support growth.

What to watch: Monitor deal wins and client spending trends in banking and financial services.

Why L&T Technology Services Features Among These Banking Software, Engineering and IT Stocks

Among the bank technology product shares on this list, L&T Technology Services provides engineering and research and development services to global customers in transportation, industrial products, telecom, plant engineering and medical devices.

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.

Roadmap: 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.

What to watch: Follow large deal wins, margin trends and demand from transportation and technology clients.

Why Oracle Financial Services Software Features Among These Banking Software, Engineering and IT Stocks

Among the three companies on this list, Oracle Financial Services Software develops banking software products such as core banking, lending and risk platforms and also provides related services and support to banks and financial institutions around the world.

The company has a return on equity of 33.7%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 86,056 crore. The stock trades at a P/E of 25.2, above the industry P/E of 17.9.

Revenue rose from Rs 5,356 crore in FY22 to Rs 7,943 crore in FY26, a compound annual growth rate of 10.4%. Net profit grew from Rs 1,889 crore in FY22 to Rs 2,639 crore in FY26, which works out to a compound annual growth rate of 8.7%.

Roadmap: The company is helping banks move to modern platforms and cloud deployments, which creates demand for its products. Recurring licence and maintenance income supports earnings visibility.

What to watch: Follow product licence wins, cloud adoption by banking clients and the pace of new deals.

Mphasis vs L&T Technology Services vs Oracle Financial Services Software on Key Financials

The table below sets the three banking software, engineering and IT stocks 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
Mphasis	12,122	16,206	7.5%	1,863	11.5%
L&T Technology Services	6,722	11,217	13.7%	1,230	11.0%
Oracle Financial Services Software	5,356	7,943	10.4%	2,639	33.2%

Oracle Financial Services Software posts the highest return on equity in this group at 33.7%. Mphasis has the largest FY26 revenue at Rs 16,206 crore, and L&T Technology Services shows the fastest revenue growth with a 13.7% compound annual rate. A useful habit with banking software, engineering and IT stocks is to check each new quarterly result against the capacity plans the company described earlier.

Key Risks to Check Before Investing in Banking Software, Engineering and IT Stocks

Every theme carries risks that deserve a check before any decision. For these banking software, engineering and IT stocks, the main points are:

Client budgets. Global spending cycles can change orders.
Currency moves. Export earnings move with the rupee.
Deal timing. Large contracts can shift between periods.

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, engineering and IT stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.

Final Thoughts on Banking Software, Engineering and IT Stocks

Banking software, engineering and IT stocks work best when investors track growth, valuation and return on equity side by side. Mphasis, L&T Technology Services and Oracle Financial Services Software each have a clear plan to grow. Based on the 23 October 2026 close, Mphasis trades at Rs 2,480, L&T Technology Services at Rs 3,910.3 and Oracle Financial Services Software at Rs 9,677.

Download the Univest iOS App or Univest Android App to track banking software, engineering and IT stocks, set price alerts and get research-backed stock ideas.

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, engineering and IT stocks?

Ans. Banking software, engineering and IT stocks are listed technology companies that build applications, run engineering and design work and sell core banking software. Their earnings depend on client budgets, deal wins, product licences and utilisation. This list looks at three of them, Mphasis, L&T Technology Services and Oracle Financial Services Software, using reported FY22 to FY26 financials and the 23 October 2026 closing prices.

Which banking software, engineering and IT stocks are covered in this list?

Ans. This list covers Mphasis, L&T Technology Services and Oracle Financial Services Software. Based on the 23 October 2026 close, Mphasis traded at Rs 2,480, L&T Technology Services at Rs 3,910.3 and Oracle Financial Services Software at Rs 9,677. Their return on equity ranges from 17.3% to 33.7%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.5% to 13.7%.

Why do banking software, engineering and IT stocks have a strong future roadmap in India?

Ans. Banking software, engineering and IT stocks have a strong roadmap in India because banks upgrade core systems, global makers outsource design work and cloud adoption keeps lifting technology budgets. The main drivers are as follows. Bank upgrades. Lenders modernise core systems. Engineering outsourcing. Global makers outsource design work. Cloud projects. Clients move applications to the cloud. Together these factors give the companies on this list a visible path for growth over the coming years.

How has Mphasis performed financially?

Ans. Revenue rose from Rs 12,122 crore in FY22 to Rs 16,206 crore in FY26, a compound annual growth rate of 7.5%. Net profit grew from Rs 1,431 crore in FY22 to Rs 1,863 crore in FY26, which works out to a compound annual growth rate of 6.8%. In the June 2026 quarter, revenue grew 17.1% year on year to Rs 4,467 crore, while net profit rose 10.8% to Rs 490 crore. The company has a return on equity of 17.3%, a debt to equity ratio of 0.24 and a market capitalisation of Rs 47,695 crore. The stock trades at a P/E of 25.0, above the industry P/E of 17.5. Looking ahead, the company has stressed an AI-led approach and strengthened its sales relationships with large clients. A broad client base in financial services provides recurring revenue, and its investments in cloud and data skills support growth.

How has L&T Technology Services performed financially?

Ans. 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.

How has Oracle Financial Services Software performed financially?

Ans. Revenue rose from Rs 5,356 crore in FY22 to Rs 7,943 crore in FY26, a compound annual growth rate of 10.4%. Net profit grew from Rs 1,889 crore in FY22 to Rs 2,639 crore in FY26, which works out to a compound annual growth rate of 8.7%. The company has a return on equity of 33.7%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 86,056 crore. The stock trades at a P/E of 25.2, above the industry P/E of 17.9. Looking ahead, the company is helping banks move to modern platforms and cloud deployments, which creates demand for its products. Recurring licence and maintenance income supports earnings visibility.

What risks should investors check before buying banking software, engineering and IT stocks?

Ans. Investors should check a few risks before buying banking software, engineering and IT stocks. Client budgets. Global spending cycles can change orders. Currency moves. Export earnings move with the rupee. Deal timing. Large contracts can shift between periods. 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, engineering and IT stocks investment advice?

Ans. No. This article is educational and uses publicly available data as of the 23 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.