T. Desai

Name: BacktestIndia - Factor Investing Backtesting Platform
Author: BacktestIndia

BacktestIndia Platform Developer & Financial Educator

BacktestIndia.com · NSE Data Analysis & Education · Since 2006

T. Desai is the platform developer and financial educator behind BacktestIndia.com — one of India's most data-intensive factor investing educational platforms. Over the past decade, T. Desai has built a proprietary backtesting engine covering 18+ years of NSE data (December 2006 to June 2025), spanning 1,700+ stocks including delisted companies — eliminating the survivorship bias that plagues most Indian investment research.

The research covers five major factor strategies — Momentum, Low Volatility, Value-Quality, Quality Momentum, and Multi-Factor — with a focus on tax-aware, friction-adjusted returns that reflect what an Indian retail investor would actually receive after LTCG/STCG, brokerage, and STT costs.

T. Desai chooses to remain pseudonymous. The reason is simple: the data should be evaluated on its own merits. Every backtest published on BacktestIndia is fully described methodologically and reproducible using publicly available NSE data.

🎓 Formally Trained By

Mayank JoshipuraLinkedIn

Vice Dean – Research & PhD · Professor of Finance · School of Business Management, NMIMS University
Harvard Business School (GloCoLL) · Wharton Executive Programme · PhD, Finance
Top Skills: Smart Beta Investing · Low Volatility Investing · Quantitative Value Investing · Portfolio Management

T. Desai completed a formal programme in factor investing and quantitative finance taught by Prof. Joshipura. The course covered Smart Beta strategies, Low Volatility investing, and quantitative portfolio construction — which directly shaped the sequential filtering methodology and Z-score composite scoring used across all BacktestIndia studies. Prof. Joshipura has 25+ years in financial education, has taught at IIM Indore, IIM Lucknow, SPJIMR, and IIM Raipur, and is Editor-in-Chief of NMIMS Management Review (Web-of-Science indexed, SAGE).

Research Methodology

18+

Years of NSE data analyzed

1,700+

Stocks including delisted

Educational articles published

Factor strategies backtested

✓Survivorship-bias free: All 1,700+ NSE stocks from Dec 2006, including companies that were later delisted (housing finance firms, mid-sized private banks, real estate developers, etc.)
✓Tax-aware calculations: All returns adjusted for LTCG (12.5%), STCG (20%), STT, and realistic brokerage costs
✓Sequential filtering engine: Proprietary multi-factor selection using Z-score composite scoring and liquidity-adjusted momentum
✓Rolling returns analysis: Every strategy tested across 100+ different 10-year entry points — not just cherry-picked periods

Educational Research Only. All backtests and articles on BacktestIndia.com are for educational purposes. Past performance does not guarantee future results. This is not investment advice. For personalized recommendations, consult a SEBI-registered Investment Adviser.