Ravi Pandit, a man from a modest Marathi family in Pune, has built an extraordinary career that defies the expectations of many. Today, he heads a global company valued at ₹49,500 crore, but his journey to the top wasn’t easy. His story is one of resilience, vision, and determination. He chose an unconventional path by stepping away from the comforts of his father’s Chartered Accountancy (CA) firm to create a global IT consulting firm. Here’s how his story unfolded and how he built KPIT Technologies into a leading global player in the automotive and manufacturing software sector.
Early Life and Education
Ravi Pandit hailed from a traditional middle-class family in Pune. After completing his CA, he secured a once-in-a-lifetime opportunity to pursue a master’s degree at the prestigious MIT Sloan School of Management in the United States. While this was an incredible achievement, the financial challenges of pursuing such an education were significant. The Pandit family’s annual income was just ₹15,000, but Ravi had to repay an educational loan amounting to ₹1 lakh annually. This gap in finances didn’t discourage him.
Instead, Ravi took the financial responsibility upon himself and began working at Grant Thornton in Chicago, USA, to cover his educational expenses. After a year of hard work, he managed to repay his loan entirely, a testament to his financial acumen and work ethic. Upon clearing his dues, he returned to India, carrying not just an education but a vision that would later revolutionize the IT consulting industry in India.
Founding KPIT Infosystems
Back in India, Ravi joined his father’s decade-old CA firm, Kirtane and Pandit Chartered Accountants, but his ambitions went beyond traditional accounting services. Having experienced the financial and IT boom in the U.S., Ravi knew that the future lay in combining accounting services with IT solutions, just as many U.S.-based firms were doing at the time. He realized that India’s rapidly expanding IT sector was a gold mine of opportunities and decided to leverage it.
In 1990, with two colleagues, Ravi co-founded KPIT Infosystems, an IT-based consulting firm. While other major IT firms like TCS, Wipro, and Infosys were focusing on offshore centers and large-scale outsourcing models, KPIT Infosystems adopted a different strategy. The company focused on on-site software development services, catering to the specific needs of its clients at their own locations. This on-the-ground approach set them apart from their competitors and proved successful in the burgeoning IT industry.
Going Public and Surviving the Dotcom Bust
KPIT’s early success culminated in a major breakthrough in 1999. The company went public with an Initial Public Offering (IPO), during a year when the tech industry was booming, with over 565 tech firms launching IPOs globally. KPIT’s IPO was a resounding success, getting oversubscribed 50 times, reflecting the growing confidence in the company. This success helped the company reach a valuation of ₹43 crore. However, the high didn’t last long.
By March 2000, the dotcom bubble burst, and tech stocks plummeted worldwide. The crash could have spelled disaster for KPIT, but Ravi Pandit’s leadership skills came to the fore during this crisis. Instead of succumbing to market pressures, Ravi strategized and sought out opportunities. He knew that innovation and partnerships could stabilize the business and drive it forward.
Partnership with Cummins and Global Growth
In 2002, KPIT Infosystems entered into a strategic partnership with Cummins Infotech, the IT arm of engine giant Cummins India. KPIT acquired an 80% stake in the partnership, which allowed it to focus on the automotive and manufacturing sectors—industries that had huge potential for growth. This partnership helped Ravi Pandit position KPIT as a leader in embedded software and digital transformation for industrial clients.
By 2006, KPIT expanded its capabilities further by acquiring CG Smith, an automotive electronics company. This move helped strengthen KPIT’s engineering and software development capabilities, especially in the automotive sector. KPIT continued its upward trajectory, clocking ₹870 crore in revenue by 2009, and crossing the $100 million mark in revenue.
The company expanded globally, establishing operations in over 10 countries. However, despite its broad presence, KPIT’s revenue was still largely dependent on Cummins, which contributed about 40% of the firm’s total revenues. At this point, Cummins decided to refocus on its core business of engines and generators, prompting a significant change for KPIT.
Breaking Away from Cummins
Ravi Pandit knew that KPIT had to diversify its client base and reduce its dependence on Cummins. In 2013, KPIT demerged from Cummins and rebranded itself as KPIT Technologies. This shift allowed KPIT to focus entirely on its core expertise: automotive software solutions and mobility software products. KPIT developed cutting-edge mobility software products like REVOLO, which provided hybrid electric vehicle technology, and Maximus Pro, which focused on two-wheelers.
By 2018, KPIT’s revenues had reached ₹1,399 crore. But Ravi Pandit saw another major opportunity in the form of a merger with CK Birla’s IT firm, Birlasoft.
Merging with Birlasoft and New Beginnings
On January 29, 2018, KPIT Technologies merged with Birlasoft to form a combined entity worth ₹4,500 crore. This merger allowed both companies to leverage their strengths. However, shortly after, the two companies demerged and split into two publicly traded entities. KPIT focused on its automotive sector expertise, while Birlasoft became an IT services company. After the split, KPIT was valued at ₹3,200 crore, and Birlasoft at ₹1,300 crore.
KPIT Technologies Today
Today, KPIT Technologies is a global leader in automotive and mobility software solutions. The company works with some of the world’s largest automotive manufacturers, including BMW, Honda, Ford, Renault, and General Motors. With a presence in 25 countries, KPIT now has over 13,000 employees and generates revenues of ₹4,871 crore.
Under Ravi Pandit’s leadership, KPIT has built a reputation for innovation and engineering excellence. The company continues to be at the forefront of digital transformation in the automotive industry, with a strong focus on software for electric and autonomous vehicles. The company’s valuation has skyrocketed to ₹49,500 crore, a remarkable achievement for a firm that started as a modest IT consulting company.
The Man Behind the Success
Despite his incredible success, Ravi Pandit remains grounded and dedicated to his work. He continues to work from 9 am to 9:30 pm, training new employees and staying actively involved in the day-to-day operations of the company. His journey from a young man with financial challenges to the head of a global IT firm is truly inspirational. Ravi Pandit’s story demonstrates the power of resilience, innovation, and staying true to one’s vision in the face of adversity.