Salesforce India Achieves 40% Profit Growth to Rs 888 Crore in Fiscal Year 2024

Salesforce, a company focused on customer relationship management, reported a 40% increase in net profit for its Indian unit in FY24, reaching Rs 888.3 crore. The San Francisco-based firm also saw its revenue grow by 36% to Rs 9,116 crore, marking the first time its revenue surpassed USD 1 billion in a fiscal year.

Representative image

The company is expanding its presence in India by leasing a 12-storey building in Bengaluru. This move will make Bengaluru the tenth city globally to host a Salesforce Tower. Arundhati Bhattacharya, chairperson and CEO of Salesforce India, confirmed the revenue growth but did not disclose India's global ranking within the company.

Salesforce's Global and Local Growth Plans

For FY25, Salesforce aims for an 8-9% increase in global revenue, targeting USD 38 billion. The Indian unit's revenue includes both domestic sales and earnings from work done for global operations. Bhattacharya, who transitioned from banking to lead Salesforce India, noted that despite cautious hiring trends in IT, their workforce in India grew by 3,000 since January 2024, reaching 13,000 by November.

While Bhattacharya refrained from commenting on future revenue or hiring projections, she highlighted India's potential as both a market for services and a talent hub supporting global operations. She expects Indian sales to rise due to macroeconomic strengths, unmet demand areas, and technological advancements.

Opportunities and Expansion in India

Salesforce is eyeing the public sector as a significant opportunity in India and has registered on the Government E Marketplace. The company is actively participating by submitting proposals for various projects. Additionally, Salesforce aims to address digital transformation demands and expand beyond being seen solely as a CRM provider.

India has become crucial to Salesforce's supply chain due to its talent pool. The country is moving beyond traditional outsourcing models, with India serving as a base for both junior staff and leaders within the company. Currently, Salesforce operates in Mumbai, Delhi, Hyderabad, Pune, Jaipur, and Bengaluru.

Bengaluru's New Salesforce Tower

Construction of the new Salesforce Tower in Bengaluru is underway. The building will be located in Bagmane Tech Park in Mahadevpura and is expected to be completed by mid-2026. It will consolidate Salesforce's presence into one facility with a capacity for 3,800 employees across 6 lakh sq ft of office space.

Relina Bulchandani, executive vice president for real estate and workplace services at Salesforce, stated that this consolidation will streamline their operations in Bengaluru. Other cities with similar towers include San Francisco, New York, Chicago, London, Dublin, Sydney, Tokyo, Atlanta, and Indianapolis.

Salesforce continues to see India as a vital part of its strategy due to its growing market potential and talent availability. The company's investments reflect its commitment to strengthening its presence and capabilities within the country.