IT cos win record big deals as a request for digital spikes

Leading Indian IT services companies had the biggest wins in large companies during the fourth quarter, which ended in March, as customer demand for digital services continued to grow. Large companies helped these companies achieve strong sales growth in a seasonally weak quarter.

The digital transformation businesses are the result of companies moving to a digital business model to remain competitive and adopt new technologies. According to a Nasscom-McKinsey report, these transactions have increased by 30% since the start of the pandemic.

Tata Consultancy Services Ltd (TCS) closed its biggest quarterly deal in the fourth quarter for $ 9.2 billion. For FY21, the order book stands at the US $ 31.6 billion, an increase of 17% over the previous year. Strong operating profit and a solid pipeline will provide double-digit revenue growth in FY22, management said after the results.

The total contract value (TCV) for HCL Technologies Ltd’s new net businesses reached a record $ 3.1 billion in the fourth quarter. It has won 19 major new businesses in vertical industries, including financial services, life sciences, and health, consumer goods, and manufacturing. In FY21, he signed 58 major deals and the new TCV agreement totals $ 7.3 billion, an increase of 18% over the previous year.

“Reservation and pipeline are a balanced mix of service lines, geographies, and sectors,” said C. Vijayakumar, President, and CEO of HCL Technologies.

Infosys Ltd’s main TCV business was $ 2.1 billion in the fourth quarter, while FY21’s TCV peaked at $ 14.1 billion, with 66% new equity. Major deals closed during FY21 included a $ 3 billion deal with German automotive giant Daimler AG and a $ 1.5 billion deal with US investment management company Vanguard.

Wipro Ltd won 12 major deals with a new net TCV of $ 1.4 billion in the March quarter and $ 7.1 billion in 2HFY21. Wipro creates a large corporate dashboard for the entire organization to take advantage of opportunities in new and existing accounts and take them to the next level.

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