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Hsbc Software Development (India)
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HSBC SOFTWARE DEVELOPMENT (INDIA) PRIVATE LIMITED

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Maharashtra ›

Computer Related Services ›

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Updated: 30 May 2026

HSBC Software Development (India) Private Limited is a leading technology company in the financial services industry that specializes in software development and IT solutions for banking and financial institutions. It offers a range of services including application development, data analytics, and cloud solutions, aimed at enhancing operational capabilities and facilitating digital transformation across the banking sector.

Hsbc Software Development (India) Private Limited, is an unlisted private company incorporated on 04 April, 2002. It is classified as a private limited company and is located in , Maharashtra. It's authorized share capital is INR 50.00 cr and the total paid-up capital is INR 32.70 cr.

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Industry and products

Computer Related Services

investment banking, insurance, software development, and audit services, private equity, data processing

Company size

Auth Capital

₹ 50.0 Cr

Paidup Capital

₹ 32.7 Cr

Revenue

₹ >5000 cr

Key Metrics

** All rupee values in INR crores. Based on March 2025 numbers.

Total Revenue

24.84%

₹ 11,761.1

EBITDA

26.78%

₹ 1,952.1

Net Profit

33.75%

₹ 1,263.4

Networth

29.55%

₹ 3,054.4

Borrowings

₹ -

Assets

20.62%

₹ 5,094.9

Gross Margin

100.0 %

Operating Margin

0.31

16.6 %

Net Profit Margin

0.71

10.7 %

Return on Equity

1.3

41.4 %

ROCE

-3.13

58.7 %

Debt to Equity

0.0

Sales

Mar 2025

Net worth

Mar 2025

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Locations

India (10)

State	Type	Address

Locations on Map

People

Designation	Name	DIN/PAN	Tenure
Whole-time Director	Vikram Waman Kulkarni	09680277	4 years
Director	Russell Jellicoe	10210725	3 years

Financial Highlights

** All numbers in INR crores

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	7,142.5	8,732.3	10,199.0	9,422.7	11,724.7
Operating profit	1,469.0	1,617.0	1,685.4	1,539.7	1,952.1
Net profit	729.3	1,036.6	1,183.7	944.6	1,263.4
Gross margin	100.0	100.0	100.0	100.0	100.0
Operating margin	20.6	18.5	16.5	16.3	16.6
Net margin	10.2	11.8	11.4	10.0	10.7
Networth	1,851.3	1,980.0	2,007.4	2,357.7	3,054.4
Borrowings	-	-	-	-	-
Assets	3,196.2	3,513.1	3,961.2	4,223.8	5,094.9
Debt to equity	0.0	0.0	0.0	0.0	0.0
Current ratio	2.5	2.1	2.0	2.2	2.5
ROE	39.4	52.4	59.0	40.1	41.4
Days payable	-	-	-	-	-
WC days	72.0	64.0	59.0	69.0	77.0

Margins

Gross margin

Operating margin

Net margin

Balance Sheet

Standalone

Consolidated

₹

** All numbers in INR crores

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	32.7	32.7	32.7	32.7	32.7
Reserves	1,818.6	1,947.3	1,974.7	2,325.0	3,021.7
Borrowings +	-	-	-	-	-
Long term borrowings	-	-	-	-	-
Short term borrowings	-	-	-	-	-
Trade payables +	623.1	917.3	1,170.4	936.2	992.5
Days payable	-	-	-	-	-
Other liabilities +	721.8	615.8	783.4	929.9	1,048.0
Other non-current liabilities	406.1	198.9	294.2	360.7	380.0
Other current liabilities	315.7	416.9	489.2	569.2	668.0
Total liabilities	3,196.2	3,513.1	3,961.2	4,223.8	5,094.9
Fixed Assets +	241.6	224.0	193.5	388.7	461.9
Tangible assets	237.9	223.0	188.2	340.0	447.4
CWIP	3.7	1.0	5.3	48.7	14.5
Intangible assets	-	-	-	-	-
LT loans and advances	82.5	-	-	-	-
Other non-current assets	517.5	417.3	447.1	544.5	489.3
Current assets +	2,354.6	2,871.8	3,320.6	3,290.6	4,143.7
Inventories	-	-	-	-	-
Trade receivables	556.7	831.4	798.3	983.3	1,105.7
Cash and cash equivalents	1,432.4	1,661.7	1,958.0	1,849.2	2,308.4
ST loans and advances	-	-	-	-	-
Other current assets	365.5	378.7	564.3	458.1	729.6
Total assets	3,196.2	3,513.1	3,961.2	4,223.8	5,094.9

Percentage of assets	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	1.02	0.93	0.83	0.77	0.64
Reserves	56.9	55.43	49.85	55.05	59.31
Borrowings +	0.0	0.0	0.0	0.0	0.0
Long term borrowings	0.0	0.0	0.0	0.0	0.0
Short term borrowings	0.0	0.0	0.0	0.0	0.0
Trade payables	19.5	26.11	29.55	22.16	19.48
Other liabilities +	22.58	17.53	19.78	22.02	20.57
Other non-current liabilities	12.71	5.66	7.43	8.54	7.46
Other current liabilities	9.88	11.87	12.35	13.48	13.11
Total liabilities
Fixed Assets +	7.56	6.38	4.88	9.2	9.07
Tangible assets	7.44	6.35	4.75	8.05	8.78
CWIP	0.12	0.03	0.13	1.15	0.28
Intangible assets	0.0	0.0	0.0	0.0	0.0
LT loans and advances	2.58	0.0	0.0	0.0	0.0
Other non-current assets	16.19	11.88	11.29	12.89	9.6
Current assets +	73.67	81.75	83.83	77.91	81.33
Inventories	0.0	0.0	0.0	0.0	0.0
Trade receivables	17.42	23.67	20.15	23.28	21.7
Cash and cash equivalents	44.82	47.3	49.43	43.78	45.31
ST loans and advances	0.0	0.0	0.0	0.0	0.0
Other current assets	11.44	10.78	14.25	10.85	14.32
Total assets

	Mar 2015	Mar 2016	Mar 2017	Mar 2018
Equity Capital	32.7	32.7	32.7	32.7
Reserves	1,673.0	1,923.5	2,172.8	1,853.2
Borrowings +	3.6	1.7	1.1	-
Long term borrowings	3.6	1.7	1.1	-
Short term borrowings	-	-	-	-
Trade payables +	206.7	177.9	357.6	658.9
Days payable	-	-	-	-
Other liabilities +	269.0	166.7	253.4	275.3
Other non-current liabilities	41.1	83.2	112.3	126.9
Other current liabilities	227.9	83.5	141.1	148.4
Total liabilities	2,185.1	2,302.5	2,817.6	2,820.1
Fixed Assets +	84.9	225.1	334.5	307.9
Tangible assets	44.3	221.3	270.1	307.5
CWIP	40.6	3.8	64.4	0.4
Intangible assets	-	-	-	-
LT loans and advances	170.5	-	-	75.3
Other non-current assets	35.4	273.6	307.5	374.7
Current assets +	1,894.3	1,803.8	2,175.6	2,062.2
Inventories	-	-	-	-
Trade receivables	534.0	780.3	1,043.5	1,005.0
Cash and cash equivalents	793.4	420.1	443.9	661.8
ST loans and advances	151.4	-	-	-
Other current assets	415.5	603.4	688.2	395.4
Total assets	2,185.1	2,302.5	2,817.6	2,820.1

Percentage of assets	Mar 2015	Mar 2016	Mar 2017	Mar 2018
Equity Capital	1.5	1.42	1.16	1.16
Reserves	76.57	83.54	77.12	65.71
Borrowings +	0.17	0.07	0.04	0.0
Long term borrowings	0.17	0.07	0.04	0.0
Short term borrowings	0.0	0.0	0.0	0.0
Trade payables	9.46	7.73	12.69	23.36
Other liabilities +	12.31	7.24	8.99	9.76
Other non-current liabilities	1.88	3.61	3.99	4.5
Other current liabilities	10.43	3.63	5.01	5.26
Total liabilities
Fixed Assets +	3.89	9.78	11.87	10.92
Tangible assets	2.03	9.61	9.59	10.9
CWIP	1.86	0.17	2.29	0.01
Intangible assets	0.0	0.0	0.0	0.0
LT loans and advances	7.8	0.0	0.0	2.67
Other non-current assets	1.62	11.88	10.91	13.29
Current assets +	86.69	78.34	77.21	73.13
Inventories	0.0	0.0	0.0	0.0
Trade receivables	24.44	33.89	37.04	35.64
Cash and cash equivalents	36.31	18.25	15.75	23.47
ST loans and advances	6.93	0.0	0.0	0.0
Other current assets	19.01	26.21	24.43	14.02
Total assets

Total assets

Profit & Loss

Standalone

Consolidated

₹

** All numbers in INR crores

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales +	7,142.5	8,732.3	10,199.0	9,422.7	11,724.7
Sales growth %	12.43	22.26	16.8	-7.61	24.43
Expenses +	5,953.5	7,373.0	8,740.8	8,112.2	10,033.1
Cost of goods	-	-	-	-	-
Employee cost	2,353.3	2,440.3	2,716.7	3,190.6	3,561.3
Other costs	3,320.2	4,675.0	5,796.9	4,692.4	6,211.3
Operating profit +	1,469.0	1,617.0	1,685.4	1,539.7	1,952.1
Operating margin %	20.6	18.5	16.5	16.3	16.6
Other income	-25.7	59.2	156.2	-2.0	36.4
Interest	56.8	32.7	24.9	32.8	36.0
Depreciation	223.2	225.0	202.3	196.4	224.5
Exceptional items	-	-	-	-	-
Profit before tax	1,163.3	1,418.5	1,614.4	1,308.5	1,728.0
Tax	434.0	381.9	430.7	363.9	464.6
Profit - disc. ops	-	-	-	-	-
Net profit	729.3	1,036.6	1,183.7	944.6	1,263.4
Net margin %	10.2	11.8	11.4	10.0	10.7

Precentage of total income	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Sales	100.36	99.33	98.49	100.02	99.69
Expenses +	83.65	83.87	84.41	86.11	85.31
Cost of goods	0.0	0.0	0.0	0.0	0.0
Employee cost	33.07	27.76	26.24	33.87	30.28
Other costs	46.65	53.18	55.98	49.81	52.81
Operating profit	20.64	18.39	16.28	16.34	16.6
Other income	-0.36	0.67	1.51	-0.02	0.31
Interest	0.8	0.37	0.24	0.35	0.31
Depreciation	3.14	2.56	1.95	2.08	1.91
Exceptional items	0.0	0.0	0.0	0.0	0.0
Profit before tax	16.35	16.13	15.59	13.89	14.69
Tax	6.1	4.34	4.16	3.86	3.95
Profit - disc. ops	0.0	0.0	0.0	0.0	0.0
Net profit	10.25	11.79	11.43	10.03	10.74

	Mar 2015	Mar 2016	Mar 2017	Mar 2018
Sales +	2,056.4	2,480.1	3,661.9	4,165.1
Sales growth %	None	20.6	47.65	13.74
Expenses +	1,812.0	2,156.8	3,137.5	3,557.0
Cost of goods	-	-	-	-
Employee cost	807.6	905.0	1,204.4	1,357.6
Other costs	971.3	1,179.2	1,864.8	2,110.2
Operating profit +	277.6	395.9	592.7	697.3
Operating margin %	13.5	16.0	16.2	16.7
Other income	119.4	95.1	83.8	92.7
Interest	4.0	34.8	4.5	5.4
Depreciation	29.1	37.8	63.8	83.8
Exceptional items	-	-	-	-
Profit before tax	363.8	418.4	608.2	700.8
Tax	114.5	168.4	215.5	242.9
Profit - disc. ops	-	-	-	-
Net profit	249.3	250.0	392.7	457.9
Net margin %	11.5	9.7	10.5	10.8

Precentage of total income	Mar 2015	Mar 2016	Mar 2017	Mar 2018
Sales	94.51	96.31	97.76	97.82
Expenses +	83.28	83.75	83.76	83.54
Cost of goods	0.0	0.0	0.0	0.0
Employee cost	37.12	35.14	32.15	31.89
Other costs	44.64	45.79	49.79	49.56
Operating profit	12.76	15.37	15.82	16.38
Other income	5.49	3.69	2.24	2.18
Interest	0.19	1.35	0.12	0.13
Depreciation	1.34	1.47	1.7	1.97
Exceptional items	0.0	0.0	0.0	0.0
Profit before tax	16.72	16.25	16.24	16.46
Tax	5.26	6.54	5.75	5.7
Profit - disc. ops	0.0	0.0	0.0	0.0
Net profit	11.46	9.71	10.48	10.75

Revenue from operations

Ratios

Standalone

Consolidated

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Solvency +
Total Debt/Equity	0.0	0.0	0.0	0.0	0.0
Net Debt/Equity	0.0	0.0	0.0	0.0	0.0
Total Debt/Assets	0.0	0.0	0.0	0.0	0.0
Total Assets/Equity	1.7	1.8	2.0	1.8	1.7
Liquidity +
Current Ratio	2.5	2.1	2.0	2.2	2.5
Quick Ratio	2.5	2.1	2.0	2.2	2.5
Interest Coverage	25.9	49.5	67.7	46.9	54.2
Performance
Gross Margin	100.0	100.0	100.0	100.0	100.0
Operating Margin	20.6	18.5	16.5	16.3	16.6
Net Margin	10.2	11.8	11.4	10.0	10.7
Return +
Return on Equity	39.4	52.4	59.0	40.1	41.4
Pre-tax ROCE	75.2	79.0	80.0	61.8	58.7
Return on Assets	22.8	29.5	29.9	22.4	24.8
Pre-tax ROIC	67.3	70.3	73.9	57.0	56.6
Efficiency +
Days Payable	-	-	-	-	-
Days Inventory	-	-	-	-	-
Days Receivable	28.0	35.0	29.0	38.0	34.0
Fixed Asset Turnover	29.6	39.0	52.7	24.2	25.4
Total Asset Turnover	2.2	2.5	2.6	2.2	2.3
Working Capital
Cash Conversion Cycle	28.0	35.0	29.0	38.0	34.0
Working Capital Days	72.0	64.0	59.0	69.0	77.0

	Mar 2015	Mar 2016	Mar 2017	Mar 2018
Solvency +
Total Debt/Equity	0.0	0.0	0.0	0.0
Net Debt/Equity	0.0	0.0	0.0	0.0
Total Debt/Assets	0.0	0.0	0.0	0.0
Total Assets/Equity	1.3	1.2	1.3	1.5
Liquidity +
Current Ratio	4.4	6.9	4.4	2.5
Quick Ratio	4.4	6.9	4.4	2.5
Interest Coverage	68.8	11.4	131.7	129.1
Performance
Gross Margin	100.0	100.0	100.0	100.0
Operating Margin	13.5	16.0	16.2	16.7
Net Margin	11.5	9.7	10.5	10.8
Return +
Return on Equity	14.6	12.8	17.8	24.3
Pre-tax ROCE	16.1	20.3	26.3	39.3
Return on Assets	11.4	10.9	13.9	16.2
Pre-tax ROIC	14.6	18.3	24.0	32.5
Efficiency +
Days Payable	-	-	-	-
Days Inventory	-	-	-	-
Days Receivable	95.0	115.0	104.0	88.0
Fixed Asset Turnover	24.2	11.0	10.9	13.5
Total Asset Turnover	0.9	1.1	1.3	1.5
Working Capital
Cash Conversion Cycle	95.0	115.0	104.0	88.0
Working Capital Days	259.0	227.0	167.0	110.0

Ratios

Current ratio

Debt/equity ratio

Charges on assets

Bank wise

Charges

Tata Capital Limited

No. of Loans: 2

Total Amount : 6.0 cr

Charge Holder	Amount	Date of creation/modification
Tata Capital Limited	3.0 cr	03 Oct, 2011
Tata Capital Limited	3.0 cr	14 Feb, 2011

Charges

Tata Capital Limited

Company Network

Companies connected through Directors

Name	Status	Paid up Capital	Common Directors	Address

Subsidiary Companies

Name	State / Country	Incorporation Year	Paidup Capital
HSBC SOFTWARE DEVELOPMENT (CANADA) INC	Canada	-	-

Tofler Score

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Risk

Severe Risk

No risks identified

Moderate Risk

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ROCE DETERIORATING

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CIN

U72200PN2002PTC016894

PAN

AABCH0517M

Incorporation

2002, 24.3 years

Company Email

venkata.s.tumuluri@hsbc.co.in

Paid up Capital

₹ 32.7 Cr

Authorised Capital

₹ 50.0 Cr

AGM

Sep 2024

Type

Private

Others

FAQ - HSBC SOFTWARE DEVELOPMENT (INDIA) PRIVATE LIMITED

What is the incorporation date of HSBC SOFTWARE DEVELOPMENT (INDIA) PRIVATE LIMITED?

The incorporation date of HSBC SOFTWARE DEVELOPMENT (INDIA) PRIVATE LIMITED is 04 April, 2002

What is the authorized share capital of HSBC SOFTWARE DEVELOPMENT (INDIA) PRIVATE LIMITED?

The authorized share capital of HSBC SOFTWARE DEVELOPMENT (INDIA) PRIVATE LIMITED is INR ₹ 50.0 Cr.

What is the paid-up capital of HSBC SOFTWARE DEVELOPMENT (INDIA) PRIVATE LIMITED?

The paid-up capital of HSBC SOFTWARE DEVELOPMENT (INDIA) PRIVATE LIMITED is INR ₹ 32.7 Cr.

What is the registered address of HSBC SOFTWARE DEVELOPMENT (INDIA) PRIVATE LIMITED?

The registered address of HSBC SOFTWARE DEVELOPMENT (INDIA) PRIVATE LIMITED is Business Bay, Wing 2, Tower B, Survey no 103, Hissa no. 2, Airport road, Yerwada, Pune, Pune, Maharashtra, India, 411006 - 411006

What is the CIN number of HSBC SOFTWARE DEVELOPMENT (INDIA) PRIVATE LIMITED?

The CIN number of HSBC SOFTWARE DEVELOPMENT (INDIA) PRIVATE LIMITED is U72200PN2002PTC016894.

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