KPIT Technologies is looking at growth and expansion in the coming years and expects its headcount to grow by 20-25 percent in fiscal year 2023-2024 while several of its peer global tech firms are laying off employees or have implemented hiring freezes.

In an exclusive interaction with CNBC-TV18 on April 27 after Q4 earnings, Sachin Tikekar, Joint MD of KPIT Technologies, said, this growth, however, will likely be driven more by strategic considerations rather than by the company's overall revenue growth.

Tikekar said, “Our headcount doesn't necessarily grow linearly with the topline growth. However, we do expect the headcount to grow 20-25 percent during the year… We will take those calls as we figure out the mix of revenues that are likely to come our way, but it's a fair estimate to say that the headcount will also grow in the early mid-20s.”

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"Topline" refers to a company's total revenue, whereas "headcount" refers to the number of employees.

Tikekar implied that as a company grows its revenue, it doesn't necessarily need to hire more employees at the same rate.

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KPIT Technologies Joint MD also said that the company is always scanning and screening for strategic acquisitions that could help it expand its offerings or improve its capabilities. However, he also made it clear that there are no acquisitions on the anvil right now.

Tikekar expects FY24 growth to be evenly distributed over the year as vehicle sales are likely to be softer in the second half of the fiscal, he said.

He noted that KPIT Technologies’ business depends on vehicle programmes spread over three to five years and since the quality of work is improving, it is helping the firm improve margin. The aim is to take margin above 20 percent in FY25-26 and beyond.

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