Wipro Ltd. EXPECTS QUATER 3 DEAL BOOKINGS

Wipro’s large deal bookings fell to a 19-quarter low in the September quarter, while its total contract value dropped to a 15-quarter low. However, the IT services major expects bookings to recover in the December quarter, Chief Executive Officer and Managing Director Srinivas Pallia said several deals expected to be signed during the July–September quarter had been awarded to Wipro, but the documentation was not completed within the quarter. The company expects these contracts to be finalised in Q3. The company said its Q2 bookings included both new business wins and expansions of existing client engagements. It also highlighted a consulting-led, AI-powered transformation deal with a global financial institution, reflecting its focus on securing larger, technology-driven projects. Wipro is also pursuing opportunities in the mid-market segment. The company is increasingly leveraging its consulting expertise and artificial intelligence capabilities to win large transformation contracts. As clients look to reduce costs, modernise legacy systems and integrate AI into business operations, Wipro aims to position itself as a partner for broader business and technology transformation. Despite the subdued bookings in Q2, Wipro expects deal momentum to strengthen in the second half of the fiscal year. Chief Financial Officer Aparna Iyer said the company would continue to focus on improving operating margins while investing in initiatives that support future growth.