Strengthening its global presence, HCLTech has secured a new $1.14 billion contract from a major European company to deliver an AI-powered digital transformation programme. The multi-year deal is one of the company’s largest wins in recent years and highlights the growing demand for AI-driven enterprise services.
The agreement is valued at $1.14 billion and will run for 5.5 years, with an option to extend it by another 5 years. HCLTech said the project will focus on building an AI-driven operating model to transform and manage the client’s global digital workplace and enterprise network infrastructure.
The company has not disclosed the identity of the European customer. However, it confirmed that this is entirely new business and not an extension or renewal of an existing contract.
Following the announcement, HCLTech shares climbed by as much as 6.3%, while the Nifty IT index gained 2.7%, reflecting positive investor sentiment around the deal.
This marks HCLTech’s biggest announced contract since it secured a $2.1 billion deal with Verizon in August 2023. The latest win also comes ahead of the company’s Q1 FY27 earnings announcement, scheduled for July 13.
Earlier, HCLTech projected annual revenue growth of 1% to 4% for the financial year. The new contract is expected to strengthen its order pipeline as enterprises continue investing in AI-powered digital transformation initiatives.
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