All the new deals signed by Tech Mahindra in the last three months

All the new deals signed by Tech Mahindra in the last three months

  • The coronavirus pandemic has slowed the uptake on new deals for Tech Mahindra, according to the company’s chief financial officer Manoj Bhat.
  • All major operators have confirmed their commitment to keeping 5G on the table.
  • Here’s a full list of the big deals that Tech Mahindra has bagged in the last quarter.
Tech Mahindra booked new deals worth $3.7 billion in the last year. According to the company’s CEO CP Gurnani, things were on track until March when the Coronavirus pandemic hit. “Till February, we booked $500 million of these contracts. In March, we continued to book businesses,” he said during the earnings call.

However, the Covid-19 is making things move along “slower than usual”. Chief Financial Officer Manoj Bhat expects the net impact on volume to be around 1%.

Telecom accounts for over 40% of Tech Mahindra’s revenue and the big question is how the 5G deals — especially the massive $1 billion multi-year contract with US telecom provider AT&T — will bear the impact of the Coronavirus pandemic.

According to Bhat, there’s definitely a temporary setback due to the lockdown situation in different countries. However, in the long term, all the major operators have confirmed their commitment to keeping 5G on the table and the shift in optics will be evident in the coming quarters. “These commitments to continue to invest in strengthening and expanding the network — including 5G — nobody has said they would be diluting the focus,” he said.

For the time being, a lot of the discussions with telecom operators are around how work from home fits into the new product mix.

Here is the list of new deals that Tech Mahindra has bagged in the last quarter, according to the company:

  • Tech Mahindra has been selected by a global leader in sustainable and innovative fiber solutions as a managed services partner to modernize its technology stack accelerating future growth strategy.
  • Engaged by a leading Australian Telco to transform their business operations and drive automation to enhance the end customers experience.
  • Tech Mahindra has been engaged by a leading UK telco for enriching its user experience by leveraging the company’s unique transformation approach and automation capabilities.
  • Selected by one of the world’s leading innovators in material science as a managed services partner for innovation-led transformation leveraging end-user computing techniques.
  • Selected by a top life insurance company in Australia as a Technology partner for Infrastructure, Security and Digital Workplace Services to enhance operational efficiency through technology transformation.
  • Chosen by a South African government agency for the provision of SAP digital transformation, end-to-end solution and managed support services leveraging Tech Mahindra’s digital offerings.
  • Engaged by a premier central government authority as a system integrator for the design, development, implementation and maintenance of the ERP Solutions for its internal users.
  • Selected by one of the largest Australian building and construction materials company to accelerate their business transformation through the implementation of ERP systems across their multiple lines of business.
  • A Swiss multinational pharma selected Tech Mahindra as an agile development partner for transformation projects in Pharma Development Informatics.
  • Tech Mahindra won a deal with UK’s leading telecom service provider to provide end-to-end managed services for IT Solution Design and Architecture function.
  • Engaged by one of the largest insurance companies in India as a transformation partner for modernisation of centralized IT application systems.
  • Selected by an Indian engineering and construction organization for implementation of SAP HANA as part of its digital transformation agenda.
See also:

Tech Mahindra shares are rising ahead of earnings because every two out of five rupees in revenue come from telecom⁠

HUL fourth-quarter volume growth down 7%, profit falls 1%, India sales slide 9% ⁠— as COVID-19 strikes India’s largest consumer firm