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puneet bhirani cms info systems: CMS Info Systems hires former Mphasis, Byju’s executive to head operations

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CMS Info Systems has appointed former Mphasis and Byju’s executive Puneet Bhirani as president of operations, a new role to consolidate service delivery and operations across business lines of the cash management solutions provider.

Prior to joining CMS Info Systems, Bhirani was the COO at edtech firm Byju’s where he spent over two years building and managing the hybrid learning business across 300+ new centres and driving their operational transformation strategy across sales, logistics and end-user experience.

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With over 26 years of leadership experience across India, the UK and the US markets, Bhirani has previously worked at mid-sized IT services firm Mphasis for over 18 years, following which he led its subsidiary Digital Risk in the US. Later, he also had a two-and-half-year stint with new-age mobility firm Ola.

“To enable our robust revenue growth of over 20% in the last three years, we have made significant investments in technology and automation… I am delighted to have Puneet join the CMS leadership team to help us continue growing our logistics and technology business platform,” Rajiv Kaul, executive vice chairman and CEO of CMS Info Systems, said in a statement.

A mechanical engineer, Bhirani pursued management at Mumbai’s SP Jain Institute of Management & Research followed by an advanced management programme from Wharton Business School.

Last month, Hong Kong-based private equity major Baring Private Equity Asia through its affiliate Sion Investment Holdings, fully exited its 26.7% stake in CMS Info Systems estimated to be worth Rs 1,503.8 crore.

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As part of the transaction, Kaul increased his stake in the firm to 6.20% from 2.62%.Some mutual funds and private investors including Abu Dhabi Investment Authority, Morgan Stanley Asia Singapore PTE, Mathew Cyriac of Florintree Advisors, Nomura Funds Ireland Public, Societe Generale and Hong Kong-based hedge fund WF Asian Reconnaissance Fund, among others, also bought shares from Barings.

Baring PE had acquired 100% stake in CMS Info Systems in August 2015 from US-based PE major Blackstone and other shareholders for Rs 2,000 crore.

Listed in December 2021, CMS Info Systems is reported to have delivered 34% earnings CAGR over the last two years.

It posted a 19% year-on-year rise in its revenue for the third quarter ended December at Rs 582 crore while net profit grew 15% to Rs 87 crore.

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