Mphasis to focus on large AI-led deals, says CEO
Artificial intelligence-led deals are increasing the addressable market for
IT companies
despite the ongoing macro uncertainties surrounding tariffs,
Mphasis
chief executive
Nitin Rakesh
said.
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With AI, the shape of large deals that were there two or three years ago have changed, Rakesh told ET on Friday, after declaring the company's financial results for the fourth quarter and fiscal 2025. 'AI is changing what we are selling, how we are selling, who we are selling to and what we are delivering…Industry will lose revenues in one place and gain revenue in another place,' he said.
For Mphasis, large
AI-led deals
will be the focus. 'I think that $100-250 million is a great sweet spot for us…We have some mega deals that I call more than $250 million in the pipeline, but those take longer to close,' he added.
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The company won deals worth $390 million in total contract value (TCV) including two large deals in the January-March period of fiscal year 2025, the highest in the last seven quarters. For the fiscal year, new TCV was $1.27 billion and 55% of this was AI-led.
Mphasis's results were in line with the ongoing IT industry trend of mid-tier companies outperforming their larger rivals.
Live Events
The quarter saw
Mphasis
report its highest sequential
revenue growth
in three years, on the back of robust deal wins and healthy business in banking, financial services & insurance (BFSI) and technology, media and telecom (TMT) segments.
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Revenue rose 8.7% from a year earlier and 4.2% sequentially to Rs 3,710 crore in the January-March quarter. Net profit grew 13.6% on-year and 4.4% from the previous quarter to Rs 446.5 crore.
Large-cap IT companies like
Tata Consultancy Services
,
Infosys
and
Wipro
have reported negative to low-single-digit revenue growth as clients went back to a cautionary approach amid confusion and uncertainties around tariffs and global trade, leading to inaction on deal closures.
According to Rakesh, there is AI-led deflation in revenue across the industry and not every company will grow. But AI is increasing the kind of businesses that software service providers can go after beyond existing clients.
This comes especially at a time when clients are focusing on
digital transformation
and cost-efficiency projects as they have tightened their spending on non-urgent or discretionary spending.
'I think it's foolhardy to wait for that to happen. Waiting for discretionary spend is an endless wait. Spends will get reprioritised,' Rakesh added.
'I have the opportunity to actually play in a larger addressable market…We are trying to expand the wallet share, not by playing the price game, but technology-led solution game,' he said.
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