Salesforce India’s FY24 profit up 40% to Rs. 888 crores

Customer relationship management-focused Salesforce on Tuesday said its Indian unit reported a FY24 net profit of Rs. 888.3 crore has registered a jump of 40 percent. The San Francisco, US-headquartered company said its revenue in FY24 grew 36 percent to Rs. 9,116 crore, which is the first financial year where the topline has crossed USD 1 billion.

The company also announced that it is leasing a 12-storey building in Bengaluru as part of its investment in India, making the Karnataka capital the 10th city globally to have a ‘Salesforce Tower’.

Salesforce India chairperson and chief executive Arundhati Bhattacharya said revenue grew 36 percent, but declined to share India’s position in the global pecking order. In FY25, Salesforce targets 8-9 percent growth in global topline to $38 billion.

The topline for Salesforce India includes both sales in India and receipts from work done for global operations outside the country, she said.

Bhattacharya, a career banker who now heads the tech major’s India operations, said that at a time when IT companies were skeptical about hiring, its overall workforce in India grew by 3,000 from January 2024 to 13,000 people by November.

Bhattacharya declined to comment on any outlook for revenue or hiring, but said the company sees many opportunities in India both as a market for its services and as a talent hub to support global operations.

Sales in India will grow based on macroeconomic strength, pent-up demand and ‘whitespace’ representing technology evolution, she said.

The company is looking at the public sector as a big opportunity in India, and has also registered itself on the Government eMarketplace, she said, adding that Salesforce is also participating in such opportunities by submitting ‘requests for proposals’.

The company is also keen to meet the demand for digital transformation opportunities in the country, and does not want to be seen as just a customer relationship management (CRM) player, she said.

At the same time, based on the talent it has, the country has become an integral part of the supply chain and has moved beyond the business process outsourcing or knowledge process outsourcing model, Bhattacharya said. There is also support for leaders.

Currently, the company has presence in Mumbai, Delhi, Hyderabad, Pune and Jaipur besides operations in Bengaluru.

The ‘Salesforce Tower’ is under construction in Bengaluru and the company will occupy a 6 lakh sq ft office space with a seating capacity of 3,800 people by mid-2026, said Relina Bulchandani, its executive vice-president for real estate and workplace services.

Bulchandani said the company will consolidate its presence in Bengaluru into a single facility with the tower located at Bagman Tech Park in Mahadevpura.

Other cities with such towers include San Francisco, New York, Chicago, London, Dublin, Sydney, Tokyo, Atlanta and Indianapolis.