Happiest Minds Technologies sees negligible business impact from H-1B Visa Fee Hike

Happiest Minds Technologies Limited (NSE, BSE: HAPPSTMNDS), an AI-led customer-first digital engineering and Mindful IT company, today announced that the recent increase in H-1B visa fees will have a negligible business impact on its operations and business outlook.

Joseph Anantharaju, Co-Chairman & CEO, Happiest Minds, said, "In CY 2024 and CY 2025 till date, we had just 4 and 2 Happiest Minds, respectively, travel to the U.S. on H-1B visas.This is in line with our strategy to have a larger offshore footprint while reducing our visa dependencies. I would like to call this our 'H-1B Outlier Advantage', which sets us apart in the industry. We also expect other Indian IT service providers with higher H-1B dependence to adapt."

Venkatraman Narayanan, Managing Director, Happiest Minds said, "Over the past 14 years, we have built a robust offshore-centric delivery model, with 94% of our people based in India and nearly 95% of our revenues generated outside of U.S. onsite operations. This strategic focus not only drives cost efficiencies but also enables us to consistently deliver high-quality digital solutions to our clients worldwide. Our offshore centricity is a key differentiator. We expect the proposed visa fee increase to have a negligible impact on our business. Our future utilization of H-1B visas will be guided purely based on the need for expertise and economics."

Happiest Minds remains committed to its vision of "Happiest People . Happiest Customers." and will continue to drive innovation, foster excellence and deliver exceptional value to its global customers.

Shares of Happiest Minds Technologies Limited was last trading in BSE at Rs. 563.90 as compared to the previous close of Rs. 580.50. The total number of shares traded during the day was 21788 in over 1324 trades.

The stock hit an intraday high of Rs. 575.05 and intraday low of 563.00. The net turnover during the day was Rs. 12346062.00.

Source : Equity Bulls

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HappiestMindsTechnologies INE419U01012 Impact H1BVisaFeeHike