Wipro Doubles Deal Wins to $2.7 Billion, Bets Big on AI Transformation

Wipro Doubles its Deal Wins to $2.7 Billion in Q1 FY26, Bets Big on Agentic AI | AIM

Wipro has developed over 200 AI agents for enterprises, and the CEO stated that the company is witnessing a clear shift towards AI investments. After muted growth of TCS and HCLTech, and a robust profit of Tech Mahindra, Wipro kicked off FY26 on a cautiously optimistic note. The IT major reported a 10.9% year-on-year rise in net income to ₹3,336.5 crore, even as revenues fell 2.3% in constant currency terms. Sequentially, profits declined 6.7% quarter-on-quarter, while revenue fell 1.6% for the same period. However, the company reported blockbuster $2.7 billion in large deal bookings, representing a whopping 131% year-over-year increase. During the earnings call, CEO Srini Pallia stated that Wipro secured a large deal in the quarter, which has the potential to become a mega deal. "We are seeing a clear shift towards AI investments," he added. Total bookings for the quarter stood at $5 billion, up 50.7% YoY and 24.1% QoQ in constant currency terms. Pallia said that "AI is no longer experimental, but it's central to our clients' strategies." He further added that the company closed 16 large deals this quarter, including two mega deals. "AI is no longer a niche. It's becoming essential to how businesses operate at scale," he added. Wipro reported that across sectors -- from banking to semiconductors to telecom -- AI is becoming central to transformation strategies. "We are building an AI-first, AI-everywhere enterprise focused on solving complex challenges, accelerating delivery and reimagining operations at scale," Pallia said. Operating margin came in at 17.3%, up 0.8% YoY, though it dipped 20 basis points compared to the previous quarter. Operating cash flow remained strong at 123.2% of net income. On 16 July, at Wipro's 79th Annual General Meeting, chairman Rishad Premji underscored the company's commitment to agentic and generative AI, sharing that Wipro has made more than 200 AI agents for enterprises. Premji noted that Wipro is moving from AI-augmented workflows to fully autonomous systems, marking a new phase in the company's digital evolution. "Agentic AI is also making a tangible impact across Wipro's internal operations," he said. In Q4 FY25, Wipro reported ₹3,588 crore in net profit and 17 large deal wins worth $1.8 billion, taking its total large deal tally for FY25 to $5.4 billion. The sharp jump in large deal bookings to $2.7 billion this quarter represents a 49.7% increase QoQ, largely driven by client demand for cost optimisation and vendor consolidation. In Q4, Wipro had already missed its constant currency guidance, and Q1's performance again failed to meet expectations. Guidance for Q2 FY26 remains muted, with the company expecting sequential growth of between -1% and +1% in constant currency terms. Despite these deals, Wipro's Q1 numbers trail both TCS and HCLTech in terms of revenue growth and profit momentum. TCS reported revenue of ₹63,437 crore, up just 1.3% YoY, but down 3.1% in constant currency, making it another poor quarter for the company. Meanwhile, net income rose 6% YoY to ₹12,760 crore. TCS also maintained stable profit margins despite increases in hiring and investments in GenAI. HCLTech, meanwhile, reported a net profit of ₹3,843 crore, down from ₹4,257 crore in the same quarter of the previous year, and the company announced a 25% YoY jump in bookings with revenue of ₹30,349 crore. Wipro continues to position AI at the heart of its enterprise strategy. Pallia reiterated that AI is central to all client engagements, and the company is delivering "impact at scale." While the firm previously revealed internal AI transformations like the LLaMB platform and AI agent rollouts, this quarter lacked detailed updates on execution metrics or GenAI-driven revenue streams. TCS, in contrast, said that GenAI had moved from pilots to production across several verticals. HCLTech is also investing heavily in AI centres and vertical-specific solutions, indicating faster go-to-market efforts. Meanwhile, the company reported operating cash flows of ₹4,110 crore, which is 123.2% of its net income. CFO Aparna Iyer said that over the past six months, the tech company returned more than $1.3 billion to shareholders. While attrition remained high at 15.1%, hiring remained conservative, in line with the broader industry slowdown in fresher onboarding. "We are very comfortable with this kind of a range of attrition," said Saurabh Govil, CHRO of Wipro, adding that the company has a good supply and bench. Alongside this shift, the IT major is nurturing an AI-first workforce. Most employees have completed foundational training in generative AI, and more than 87,000 have received advanced upskilling tailored to their roles, which includes teams in HR, sales, finance, and delivery, the company said. During the AGM, Pallia said, "In the fourth quarter of FY25, uncertainty deepened with new headwinds regarding the direction and quantum of tariffs." The company had also committed $200 million to Wipro Ventures, a strategic investment arm of Wipro Ltd., and announced major wins across BFSI, telecom, and energy sectors.

Wipro Deploys 200+ AI Agents Across Functions, Says Rishad Premji | AIM

Ahead of Q1 FY26 results at Wipro's 79th Annual General Meeting, chairman Rishad Premji underscored the company's commitment to agentic and generative AI, describing the technologies as central to Wipro's future. As the company nears its 80th anniversary, Premji said that AI is reshaping internal operations and client offerings alike. "AI, especially generative and agentic AI, is becoming a game-changer. It's helping us rethink how we work, uncover new growth opportunities and deliver great value to our clients," said Premji. Agentic AI is already being integrated into core business processes, with more than 200 intelligent agents developed in collaboration with cloud partners. These agents are independently handling tasks across departments such as HR, finance, and legal, driving scaled efficiencies and outcomes. Premji noted that Wipro is moving from AI-augmented workflows to fully autonomous systems, marking a new phase in the company's digital evolution. "Agentic AI is also making a tangible impact across Wipro's internal operations," he said. Alongside this shift, the IT major is nurturing an AI-first workforce. Most employees have completed foundational training in generative AI, and more than 87,000 have received advanced upskilling tailored to their roles, which includes teams in HR, sales, finance, and delivery. Reflecting on the challenges of FY25, CEO and MD Srini Pallia highlighted the volatile business environment and global uncertainties, particularly in the latter half of the fiscal year. "In the fourth quarter, uncertainty deepened with new headwinds regarding the direction and quantum of tariffs," Pallia said, noting how clients responded by reassessing their transformation initiatives. Despite the turbulence, Wipro closed 63 large deals worth $5.4 billion, including two mega deals. Pallia emphasised that AI now plays a central role in every engagement. During the Q4 FY25 earnings call, Pallia said that AI has been part of all deal conversations for a while. "But this year, it has actually become central to almost every opportunity, big or small," Pallia said. Read: 'AI is Part of All Deal Conversations': Wipro Secures 17 Big Wins Worth $1.8 Bn in Q4 When asked about the cannibalisation of deals because of generative AI, Pallia said that Wipro is now incorporating generative AI into all its solutions. "GenAI was not part of the earlier deals, but in the new deals, we're going to infuse GenAI." "Some of the clients would want to adopt GenAI, and some are worried about the guardrails in terms of how China is going to deploy [the AI models]," Pallia said. In 3-4 quarters, Wipro will have better clarity on that. "But we are going to infuse AI into a solution before we go to the client." Looking ahead to FY26, Pallia said Wipro's priorities include scaling its consulting-led, AI-powered transformation model.

Indian IT's AI Talks Get Louder as Revenues Go Mute | AIM

As Wipro, TCS, and HCLTech continue championing their GenAI ambitions, the gap between grand narratives and actual numbers is only widening. Another quarter, another AI sermon from Indian IT. Yet, as Wipro, TCS, and HCLTech continue championing their GenAI ambitions, with Infosys set to announce the same next week, the gap between grand narratives and actual numbers is only widening. The big question is now whether Indian IT can ever catch up to AI before it's too late. It has been two years of stagnant -- in some cases sharply declining -- revenues. Wipro, to its credit, has shown signs of movement. The company doubled its large deal bookings to $2.7 billion in Q1 FY26, a 131% YoY jump. CEO Srini Pallia said the company is seeing a "clear shift towards AI investments", claiming that AI is now central to client strategies. "AI is no longer just a niche," he said during the earnings call. Moreover, it helps that Wipro has built more than 200 enterprise AI agents, and the executive chairman, Rishad Premji, confirmed during the annual general meeting that the company is now transitioning from AI-augmented workflows to fully autonomous systems. However, even this AI-heavy quarter couldn't shield Wipro from weak topline performance. Revenues fell 2.3% YoY in constant currency. Sequentially, revenue declined 1.6% and net profit dropped by nearly 7%. The company's Q2 guidance is equally soft, with sequential growth between -1% and +1%. TCS, meanwhile, had a forgettable quarter. Revenues grew just 1.3% YoY, and fell 3.1% in constant currency. The total contract value (TCV) dropped from $12.2 billion to $9.4 billion. There was no sign of AI-led wins -- only vague assurances about "scaling AI" and launching branded platforms like 'DigiBOLT'. Four quarters ago, TCS claimed a $1.5 billion GenAI pipeline. Now, that number has disappeared. COO Aarthi Subramanian insisted that "AI revenues have grown" and that agentic AI comes up in every discussion. Yet, there's still no number to back it up. What's more concerning is the sharp drop in software and equipment expenses -- from ₹2,748 crore last quarter to just ₹726 crore in Q1. That points to either aggressive internal AI automation or, more worryingly, a freeze on budget. While HCLTech remains the most credible of the lot, it is still struggling to maintain its position. It was also the loudest voice on generative AI this quarter, announcing a new partnership with OpenAI, nine exclusive GenAI deals, integration with NVIDIA and agentic AI collaborations with Google Cloud and UiPath. It also claims to have trained 1,27,000 employees on AI. Yet, profits fell nearly 10% YoY. Revenue barely moved. And its GenAI deal count actually declined from 12 to nine. CEO C Vijayakumar said the company is seeing strong resonance from clients, adding that GenAI is reshaping delivery models. "We're seeing new business models emerging -- what we're calling service-as-a-software," Kalyan Kumar, CPO at HCLSoftware, said. However, even HCLTech hasn't been immune to the margin pressures and an increasing bench. Several large deals expected in Q1 have slipped into Q2. In short, the AI story may be compelling, but the P&L remains unmoved. Just like the last quarter, Tech Mahindra had the best quarter among the majors. Net profit jumped nearly 34% YoY. The company reported $809 million in new deals and deployed over 200 industrial-grade AI agents. CEO Mohit Joshi said that the future of IT services lies in hybrid systems, where AI and human agents work together for scale and precision. Yet, even here, the revenue story remained subdued. The company's internal transformation effort, Project Fortius, seems to be helping margins, but AI has yet to shift the growth curve meaningfully. Moreover, there's Accenture -- once again reminding Indian IT of what real AI adoption looks like -- $1.5 billion in GenAI bookings this quarter, $4.1 billion over the last three. While Indian firms are running PoCs and training programs, Accenture is overhauling its business structure. "Companies need resilience and results," Accenture CEO Julie Sweet said. "We are laser-focused on delivering measurable value." This is what Indian IT is up against. Not the company next door, but a global rival already restructuring around AI while the local giants still debate slide decks. Everyone says AI is "part of every deal", but no one is ready to put a dollar figure on it. Wipro closed 17 large deals last quarter that involved AI. Yet, revenue declined. TCS spoke of AI in every client conversation, but the TCV dropped regardless. HCLTech has the most promising AI stack. Still, profits are sliding. All we have is another quarter, another promise, and the same old question. Meanwhile, Indian IT jobs, which involve maintenance, testing, and providing services, are already going through tough times.

Wipro looking to become consulting-led, AI-powered company, says Rishad Premji - The Economic Times

Addressing the Bengaluru-based company's 79th annual general meeting through videoconferencing on Wednesday, the son of billionaire promoter Azim Premji said 2024-25 was a year of significant change for Wipro as well as the world.IT firm Wipro aims to sharpen its focus on becoming a consulting-led, artificial intelligence (AI)-powered organisation, its executive chairman Rishad Premji told shareholders. Addressing the Bengaluru-based company's 79th annual general meeting through videoconferencing on Wednesday, the son of billionaire promoter Azim Premji said 2024-25 was a year of significant change for Wipro as well as the world. "We know the external environment may stay uncertain. But resilient businesses are built during times like these... The macro landscape kept shifting, and technologies like AI were scaling rapidly," said Premji. "We're sharpening our focus on becoming a consulting-led, AI-powered organization." He highlighted that Wipro's acquisition of Capco in 2021 gave the company a strong start in financial services consulting and helped in expansion across other industries. The comments came a day ahead of Wipro's first-quarter earnings scheduled to be announced on Thursday. On Wednesday, Wipro's shares closed 2% higher at Rs 262.70 per share on the BSE. Since last week, larger rivals Tata Consultancy Services (TCS) and HCLTech have reported subdued quarterly revenue and profit numbers, respectively, as US tariffs-related uncertainty continued to drive cautious spending by clients of the software service providers. Wipro, the fourth largest software services provider in the country, reported revenue of $10.5 billion for 2024-25. "Starting from FY26, we expect to return to shareholders at least 70% of the net income cumulatively over a three-year period," Premji said. Chief executive Srinivas Pallia, who completed one year at Wipro's helm in April, said as the uncertainty deepened in the fourth quarter of 2024-25 with new headwinds led by tariffs, Wipro is helping its clients define roadmaps, identify AI opportunities and align with their business goals from the start. "We also invested heavily in talent and leadership development through the Wipro Leadership Institute, we are developing high potential talent, moving top performers into critical roles, and we launched a sponsorship programme to help in their growth journey with AI first and AI everything as a guiding approach," Pallia said. Wipro has built more than 200 agents in partnership with its hyperscalers, he said, adding that Agentic AI is making a tangible impact across the company's internal operations including human resources, finance and legal.

Wipro CEO: 'AI Is No Longer A Niche'

'We are, in fact, building an AI-first, AI-everywhere, enterprise focused on solving complex challenges, accelerating delivery and re-imagining operations at scale,' says Wipro CEO and Managing Director Srini Pallia. Wipro CEO and Managing Director Srini Pallia said AI "is no longer a niche" and is "a force reshaping industries and amplifying human potential." Pallia (pictured above) made the comments Thursday to members of the press after the global IT services provider released its latest quarterly earnings. AI, he said, is "becoming essential to how businesses operate at scale. At Wipro, we see AI as a force reshaping industries and amplifying human potential. We are, in fact, building an AI-first, AI-everywhere, enterprise focused on solving complex challenges, accelerating delivery and re-imagining operations at scale. By embracing autonomous and agentic AI, we are transforming business models and how organizations work." The company, which reported a slight year-over-year increase in total revenue for the quarter, also reported that large deal bookings more than doubled in the same period. Wipro, with dual headquarters in East Brunswick, N.J. and Bangalore, India, is ranked No. 17 on CRN's 2025 Solution Provider 500. [Related: Wipro Guides Current Quarter IT Services Revenue Down In Face Of Tariffs, Macroeconomic 'Uncertainties'] Pallia said during his prepared remarks that Wipro started the quarter facing significant macroeconomic uncertainty, which kept overall demand muted. "In fact, our clients prioritized initiatives with immediate impact, focusing on cost optimization and vendor consolidation, and at the same time, they accelerated their AI data and modernization programs," Pallia said. "We saw a clear trend of many AI projects moving to scale and production. So we quickly aligned with these priorities, deepened our partnerships, and, of course, secured key deals, the large deals we closed this quarter, and of course, the last quarter, along with a strong pipeline, put us in a good position for the second half of the year." Those priorities and shifts in client focus were evident in the strategic deals Wipro won during the quarter, including bookings worth $5 billion in total contract value, which was up 51 percent year-over-year, Pallia said. Large deal bookings reached $2.7 billion, up 131 percent, he said. That included 16 large deals in the quarter, including two "mega deals," he said. "Several of these wins were driven by vendor consolidation, where we continue to build strong momentum," he said. "These deals reflect a good balance of extension of work and securing new business. They also highlight our capabilities, our domain expertise, and the progress we have made in AI." He cited as examples a global banking leader that selected Wipro as the strategic partner to help its digital ecosystem, modernize its cloud and data platforms, and improve cyber resilience while embedding AI across its software development life cycle; a leading global semiconductor company who signed a multi-year agreement to modernize its entire product life cycle; and a leading North American bank to transform its technology across core banking, wealth management, and retail using Wipro's AI-powered global delivery framework. "These examples highlight a clear trend: AI is no longer a niche," he said. Wipro's AI capabilities are integrated into "both industry and cross-industry solutions," Pallia added. "By combining domain expertise with AI, we are able to deliver value through solutions such as hyper personalized wealth management for our BFS (banking and financial services) clients [and] predictive industrial insights for our manufacturing clients," he said. "So far, we have deployed over 200 AI-powered agents using advanced technologies from our leading hyperscalers, who are big partners. Just to give an example, these agents enable smarter lending, intelligent claims processing, and autonomous network management." When asked about the macroeconomic environment, Pallia said there certainly is uncertainty. "So the whole aspect of geopolitics continues," he said. "The aspect of tariff continues. And each of the industries and each of the countries have a different situation. But broadly from a sector perspective ... retail, CPG (consumer product goods), and manufacturing are the three industries specifically impacted by that. But if you look at BFSI (banking, financial services, and insurance), the pipeline is very strong, and also deal momentum and wins are also strong for us. The clients are very focused on cost optimization and vendor consolidation. I think that's where we are winning." For its first fiscal quarter 2026, which ended June 30, Wipro reported total revenue of $2.58 billion, up 0.8 percent over its first fiscal quarter 2025 revenue. Net income for the quarter was reported at $388.4 million or 4 cents per share, up 10.9 percent over last year. Investors responded positively to Wipro's financials, sending the company's shares up 3.38 percent to $3.06 per share by the close of the trading day.

Wipro Q1FY26: 10.9% Profit Surge, AI Drives Deal Wins

Wipro Limited released its earnings call on July 17, 2025, for Q1FY26, which ended on June 30 this year. The earnings call provided insights into the company's ability to navigate a period marked by macroeconomic uncertainties. It highlighted deal wins and the growing prominence of AI in its client engagements. Despite a challenging demand environment, Wipro reported a profit surge, driven by large deal bookings and a focus on operational efficiency. The company's leadership, especially Chief Executive Officer (CEO) Srini Pallia, underscored AI's pivotal role. He stated, "AI is no longer experimental -- it's central to our clients' strategies, and we are delivering real impact at scale." This highlighted a shift towards production-level AI implementations for clients. He also mentioned that clients are accelerating their AI, data, and modernization programs despite macroeconomic uncertainty. A key feature in the CEO's remarks during the Q1FY26 earnings call was the impact of AI on deal bookings. His statement in the press release read, "In a quarter shaped by macroeconomic uncertainty, clients prioritized efficiency and cost optimization." He followed this by explaining how Wipro aligned with these client needs, asserting, "We partnered closely with them to address these needs, resulting in 16 large deals, including two mega deals." Wipro's AI capabilities were a crucial element in winning these significant contracts, particularly those focused on cost reduction and vendor consolidation, according to the CEO. Wipro's last six earnings calls up to Q4FY24 show a clear consolidation towards AI implementation, both internally and in client services. Initially, the focus was on upskilling a massive workforce in AI fundamentals and launching foundational platforms. This later evolved into showcasing measurable, AI-driven outcomes, including cost reductions and improved operational accuracy, across client engagements. Wipro now positions AI as a core part of client strategies, asserting it has moved beyond experimental use cases to become a key driver of large deal wins and scaled deployments. The shift from pilot projects to scaled AI solutions reflects a matured market demand that Wipro is capitalizing on. Pallia detailed how Wipro integrates AI into its offerings, stating, "Our AI capabilities are integrated into both industry and cross-industry solutions. By combining domain expertise with AI, we are able to deliver value through solutions such as hyper-personalized wealth management for our BFS [banking and financial services] clients and predictive industrial insights for our manufacturing clients." Wipro reported a 131% YoY increase in large deal bookings to Rs 22,860 crore, attributing the growth partly to its AI-led offerings. These contracts involved both new clients and expanded scopes with existing ones. The company highlighted how AI-enabled solutions, including intelligent claims processing, autonomous network management, and smarter lending, aligned with client priorities such as cost optimization and operational efficiency, amid broader economic volatility. Wipro's Q1FY26 earnings call signals critical shifts in the Indian IT services landscape and the broader tech industry. Despite facing a challenging macroeconomic environment that saw only marginal revenue growth and a slight sequential decline in IT services, Wipro achieved a notable 11% YoY increase in net profit. The company was able to secure significant contracts even when overall demand remains subdued. The emphasis on AI's role in securing large deals, especially those focused on efficiency and cost optimization, highlights how generative AI and specialized AI solutions are becoming key differentiators in competitive IT services pitches. For the industry, this suggests that the promise of AI-led transformation is now materializing into tangible business outcomes and deal flows. This sets a precedent for how other IT majors might navigate the current economic climate by doubling down on AI-powered value propositions.