Three of India's largest IT services companies have taken over global capability centres (GCCs), the in-house technology units that multinationals run in India, this year. TCS took on Best Buy's India centre for about Rs 2,000 crore, Wipro bought Mindsprint…
Finance angle The finance angle is revenue that is bought and locked in. Wipro's Mindsprint deal is put at about USD 1 billion (Rs 9,625 crore) of revenue over eight years; TCS paid about Rs 2,000 crore for Best Buy's centre. These takeovers come with service contracts of five to eight years, at a time when AI is pushing down…
HCLTech reported first-quarter FY27 revenue of $3.65 billion, up 3% from a year earlier and 2.6% in constant currency, with what it called its highest-ever first-quarter net new bookings of $2.4 billion. Advanced AI revenue was $171 million, up 10.6% on the…
Finance angle Advanced AI at $171 million is under 5% of HCLTech's $3.65 billion quarterly revenue but is growing 62.1% a year against 2.6% for the company overall. The planned outlay of up to Rs 3,500 crore on AI data centres, scalable to 50MW, moves an Indian IT services firm into owning compute capacity, a capital cost that…
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