Rishad Premji flags unchanged IT outlook, focuses on AI push

Time of India

2 days ago

Bengaluru: Wipro chairman
Rishad Premji
stated that the external environment is still volatile, highlighting macroeconomic pressures, tariff uncertainties, and evolving client priorities.
"While the environment hasn't worsened, it hasn't improved significantly either.
Clients are acclimatising to a world that is inherently more unpredictable," Premji said at the company's 79th annual general meeting (AGM) held virtually on Tuesday.
Despite a 2.3% year-on-year decline in the 2024-25 financial year's IT services revenue (in constant currency) to $10.5 billion, Wipro reported a 18.9% rise in net income to Rs 13,140 crore and a 90-basis point expansion in operating margins to 17.1%.
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"The year was marked by disciplined execution and bold investments," Premji added. Wipro CEO Srini Pallia said AI is becoming central to how Wipro delivers value. "Clients want AI-powered solutions that deliver velocity, efficiency, and measurable business outcomes. Every major deal now has AI at its core," he said. Wipro won 63 large deals worth $5.4 billion in 2024-25 financial year including two mega deals.
On the HR front, Wipro is doubling down on building future-ready talent.
Nearly 87,000 employees completed advanced training in generative AI, while the company partnered with 63 colleges to redesign curricula and boost industry readiness among graduates. "We are building an AI-first workforce, starting with me," Premji said.
Premji is betting big on the firm's AI-first strategy and deeper client engagement to navigate an uncertain global business environment. Attrition for the year stood at 15%, down from previous years, and the company's subcontractor workforce is steady at 9.5% of total headcount.
Leadership development has also taken centre stage.
"Through the Wipro Leadership Institute, we are identifying and fast-tracking high-potential talent into critical roles," Pallia said.
Diversity and inclusion remain integral to Wipro's HR strategy. Women now comprise 37% of the overall workforce and 33% of its independent board members. The company was recognised as a DEI Lighthouse by the World Economic Forum this year.
"We are creating a multi-generational, inclusive workplace. Flexibility, well-being, and tailored support have become core to our people's practices," Premji said. Wipro also designed a well-being framework addressing physical health, mental wellness, and work-life balance.