3 Digital Engineering and Cloud Company, Software Products and Platforms Builder and Experience Services Provider Stocks With a Strong Future Roadmap: Mastek, Persistent Systems and Zensar Technologies

Mastek, Persistent Systems and Zensar Technologies: ROE of 13.5% to 21.0% and FY22 to FY26 revenue CAGR of 7.8% to 26.4%. Prices as of 26 Oct 2026.

Updated: 27 Oct 2026 • 12:33 pm

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3 Digital Engineering and Cloud Company, Software Products and Platforms Builder and Experience Services Provider Stocks With a Strong Future Roadmap: Mastek, Persistent Systems and Zensar Technologies

Quick Answer

The three cloud, platform and product engineering stocks to watch are Mastek, Persistent Systems and Zensar Technologies. Their return on equity ranges from 13.5% to 21.0%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.8% to 26.4%. Persistent Systems leads on both return on equity at 21.0% and revenue growth at 26.4% a year. Prices are based on the 26 October 2026 close, and this article is educational, not investment advice.

Cloud, platform and product engineering stocks offer a focused view of a sector where demand keeps widening. Mastek, Persistent Systems and Zensar Technologies cover a digital engineering and cloud company, a software products and platforms builder and an experience services provider.

This list covers three cloud, platform and product engineering stocks with complete current figures: Mastek, Persistent Systems and Zensar Technologies. Every figure comes from the latest reported financials and the 26 October 2026 market close. Companies without complete current figures were left out.

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Table of Contents

What Are Cloud, Platform and Product Engineering Stocks?

Cloud, platform and product engineering stocks are listed technology companies that build software platforms, cloud solutions and digital experiences for clients in banking, healthcare and retail. Their earnings depend on client budgets, deal wins, utilisation and currency.

Cloud, Platform and Product Engineering Stocks at a Glance

Company	CMP (Rs)	Market Cap (Rs Cr)	P/E	Industry P/E	ROE (%)	D/E
Mastek	1,634.2	5,673	13.6	17.9	13.5	0.15
Persistent Systems	5,850	90,857	50.4	17.9	21.0	0.07
Zensar Technologies	505.3	11,686	15.1	17.5	16.4	0.02

On valuation, Mastek and Zensar Technologies trade at a P/E below the industry P/E, while Persistent Systems trades above it, which reflects the growth the market already expects. Readers comparing cloud, platform and product engineering stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.

Why Do Cloud, Platform and Product Engineering Stocks Have a Strong Roadmap in India?

Cloud, platform and product engineering stocks have a strong roadmap in India because digital spending, cloud migration and product engineering outsourcing keep widening the market for Indian technology firms.

Cloud projects. Enterprises move platforms to the cloud.
Product engineering. Clients outsource software platform work.
Experience services. Retail and finance firms upgrade customer journeys.

Why Mastek Features Among These Cloud, Platform and Product Engineering Stocks

Among the cloud, platform and product engineering stocks 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.

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.

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.

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 Persistent Systems Features Among These Cloud, Platform and Product Engineering Stocks

Among the public sector software and product engineering shares on this list, Persistent Systems is a Pune-based technology services and digital engineering company that builds software products and platforms for clients in banking, healthcare, software and hi-tech industries worldwide.

Revenue rose from Rs 5,855 crore in FY22 to Rs 14,929 crore in FY26, a compound annual growth rate of 26.4%. Net profit grew from Rs 690 crore in FY22 to Rs 1,865 crore in FY26, which works out to a compound annual growth rate of 28.2%.

The company has a return on equity of 21.0%, a debt to equity ratio of 0.07 and a market capitalisation of Rs 90,857 crore. The stock trades at a P/E of 50.4, above the industry P/E of 17.9.

Roadmap: The company is deepening its work in cloud, data and artificial intelligence, where enterprises are raising spending. A strong base of long-term clients helps it win larger engineering programmes.

What to watch: Track large deal wins, client additions and the share of artificial intelligence work in revenue.

Why Zensar Technologies Features Among These Cloud, Platform and Product Engineering Stocks

Among the three companies on this list, Zensar Technologies, an RPG group company, offers digital engineering, cloud and experience services to clients across financial services, retail and manufacturing.

In the June 2026 quarter, revenue grew 8.6% year on year to Rs 1,566 crore, while net profit rose 1.0% to Rs 184 crore. Revenue rose from Rs 4,382 crore in FY22 to Rs 5,921 crore in FY26, a compound annual growth rate of 7.8%.

Net profit grew from Rs 422 crore in FY22 to Rs 775 crore in FY26, which works out to a compound annual growth rate of 16.4%. The company has a return on equity of 16.4%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 11,686 crore. The stock trades at a P/E of 15.1, below the industry P/E of 17.5.

Roadmap: Strong deal wins in cloud and data work, a focus on fewer, larger clients and the use of artificial intelligence in delivery support its path. Cost discipline has allowed margins to improve over the years.

What to watch: Follow client concentration and growth in large accounts.

Mastek vs Persistent Systems vs Zensar Technologies on Key Financials

The table below sets the three cloud, platform and product engineering 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
Mastek	2,220	3,769	14.2%	404	10.7%
Persistent Systems	5,855	14,929	26.4%	1,865	12.5%
Zensar Technologies	4,382	5,921	7.8%	775	13.1%

Persistent Systems posts the highest return on equity in this group at 21.0%. Persistent Systems combines the largest FY26 revenue at Rs 14,929 crore with the fastest revenue growth, a 26.4% compound annual rate. A useful habit with cloud, platform and product engineering stocks is to check each new quarterly result against the capacity plans the company described earlier.

Key Risks to Check Before Investing in Cloud, Platform and Product Engineering Stocks

Every theme carries risks that deserve a check before any decision. For these cloud, platform and product engineering stocks, the main points are:

Deal timing. Large contracts can shift between periods.
Client budgets. Spending can vary with global conditions.
Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.

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

Final Thoughts on Cloud, Platform and Product Engineering Stocks

Cloud, platform and product engineering stocks reward patient research into demand, execution and financial strength. Mastek, Persistent Systems and Zensar Technologies each have a clear plan to grow. Based on the 26 October 2026 close, Mastek trades at Rs 1,634.2, Persistent Systems at Rs 5,850 and Zensar Technologies at Rs 505.3.

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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 cloud, platform and product engineering stocks?

Ans. Cloud, platform and product engineering stocks are listed technology companies that build software platforms, cloud solutions and digital experiences for clients in banking, healthcare and retail. Their earnings depend on client budgets, deal wins, utilisation and currency. This list looks at three of them, Mastek, Persistent Systems and Zensar Technologies, using reported FY22 to FY26 financials and the 26 October 2026 closing prices.

Which cloud, platform and product engineering stocks are covered in this list?

Ans. This list covers Mastek, Persistent Systems and Zensar Technologies. Based on the 26 October 2026 close, Mastek traded at Rs 1,634.2, Persistent Systems at Rs 5,850 and Zensar Technologies at Rs 505.3. Their return on equity ranges from 13.5% to 21.0%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.8% to 26.4%.

Why do cloud, platform and product engineering stocks have a strong future roadmap in India?

Ans. Cloud, platform and product engineering stocks have a strong roadmap in India because digital spending, cloud migration and product engineering outsourcing keep widening the market for Indian technology firms. The main drivers are as follows. Cloud projects. Enterprises move platforms to the cloud. Product engineering. Clients outsource software platform work. Experience services. Retail and finance firms upgrade customer journeys. Together these factors give the companies on this list a visible path for growth over the coming years.

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 Persistent Systems performed financially?

Ans. Revenue rose from Rs 5,855 crore in FY22 to Rs 14,929 crore in FY26, a compound annual growth rate of 26.4%. Net profit grew from Rs 690 crore in FY22 to Rs 1,865 crore in FY26, which works out to a compound annual growth rate of 28.2%. The company has a return on equity of 21.0%, a debt to equity ratio of 0.07 and a market capitalisation of Rs 90,857 crore. The stock trades at a P/E of 50.4, above the industry P/E of 17.9. Looking ahead, the company is deepening its work in cloud, data and artificial intelligence, where enterprises are raising spending. A strong base of long-term clients helps it win larger engineering programmes.

How has Zensar Technologies performed financially?

Ans. Revenue rose from Rs 4,382 crore in FY22 to Rs 5,921 crore in FY26, a compound annual growth rate of 7.8%. Net profit grew from Rs 422 crore in FY22 to Rs 775 crore in FY26, which works out to a compound annual growth rate of 16.4%. In the June 2026 quarter, revenue grew 8.6% year on year to Rs 1,566 crore, while net profit rose 1.0% to Rs 184 crore. The company has a return on equity of 16.4%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 11,686 crore. The stock trades at a P/E of 15.1, below the industry P/E of 17.5. Looking ahead, strong deal wins in cloud and data work, a focus on fewer, larger clients and the use of artificial intelligence in delivery support its path. Cost discipline has allowed margins to improve over the years.

What risks should investors check before buying cloud, platform and product engineering stocks?

Ans. Investors should check a few risks before buying cloud, platform and product engineering stocks. Deal timing. Large contracts can shift between periods. Client budgets. Spending can vary with global conditions. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. 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 cloud, platform and product engineering stocks investment advice?

Ans. No. This article is educational and uses publicly available data as of the 26 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.