Why is Persistent System enjoying such a high P/E multiple compared to its peers?

1. They aren't a mass recruiter. 2. They pay, say 20% more than a mass recruiter would, but in an inexpensive city - Nagpur. 3. They only take up projects which require specialised skillsets like Salesforce and that pay higher.

With all due respect, how do these affect their stock market position? I think they are ridiculously over valued compared to their peers and slated for a correction in their stock price