Happiest Minds Technologies Limited has informed the Exchange regarding a press release dated September 23, 2025, titled "Happiest Minds Technologies sees negligible business impact from H-1B Visa Fee Hike".
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Happiest Minds Technologies announced that the recent increase in US H-1B visa fees will have negligible impact on its business. The company stated that in CY 2024 and CY 2025 till date, only 4 and 2 employees respectively travelled to the US on H-1B visas. With 94% of its workforce based in India and nearly 95% of revenues generated outside US onsite operations, the company has built a strong offshore-centric delivery model. As of June 2025, Happiest Minds has annualized revenues exceeding $270 million, over 6,500 employees across 43 global offices, and serves 280+ customers. CEO Joseph Anantharaju termed this their 'H-1B Outlier Advantage', while MD Venkatraman Narayanan highlighted that future H-1B use will be guided by expertise needs and economics.
This is a positive positioning for Happiest Minds versus peers more reliant on H-1B visas, potentially making the stock more attractive to investors concerned about US visa policy risks. The company's low H-1B dependence insulates its margins from rising visa costs, reinforcing its cost-efficient offshore delivery model.