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Mphasis Sees Boost In Revenue As Artificial Intelligence Fuels Record Contract Wins
Mphasis, one of India’s leading IT services companies, has reported modest revenue growth for the first quarter of FY26, with a focus on strong adoption of AI services that has fueled record new contract wins. The company’s efforts to leverage artificial intelligence (AI) to drive business growth have paid off, with 68% of its recent deal wins being AI-led.
The company’s gross revenue grew to Rs 3,732 crore, a 0.4% quarter-on-quarter (QoQ) and 9.2% year-on-year (YoY), on a reported basis. When adjusted for constant currency, the gross revenue grew 1.0% QoQ and 6.5% YoY.
Direct revenue, a key segment for Mphasis, rose 1.1% QoQ and 10.9% YoY on a reported basis, and 1.6% QoQ and 8.1% YoY in constant currency terms. This growth is largely driven by the company’s efforts to expand its services in areas such as cloud, data analytics, and digital transformation.
A notable highlight from the quarter was Mphasis’s record quarterly total contract value (TCV) wins, which reached $760 million, the highest in the last eight quarters. This achievement is a testament to the company’s ability to attract large clients and deliver high-value projects that leverage AI and other emerging technologies.
According to CEO and MD Nitin Rakesh, 68% of this record TCV win is attributed to AI-led initiatives. Mphasis has been an early adopter and implementer of AI-based solutions for its clients, which has positioned the company well to help with their AI journey, create efficiencies, cost-savings, and minimize project risks.
Rakesh explained that by leveraging AI, Mphasis can help its clients accelerate their business while reducing costs. “We were early adopters and implementers of AI-based solutions for our clients, which has positioned us well to help with their AI journey,” he said. “Our focus on AI has enabled us to create efficiencies, cost-savings, and minimize project risks, all while accelerating our business.”
Among the company’s key deals during the quarter was a major win from a leading asset services firm that appointed Mphasis to transform its wealth & investment management engineering platform using AI. The goal of this transformation is to deliver savings-led transformation and improved efficiency.
Mphasis’s net profit declined slightly by 1.1% QoQ but improved 9.2% compared to the same quarter last year, reaching ₹441.7 crore. This growth in revenue has been driven largely by the company’s expansion into new services areas such as cloud and data analytics.
In comparison, the company secured deal wins worth $390 million during Q4 FY25, which was the highest in seven quarters. However, 59% of those wins were driven by AI-led initiatives, demonstrating the increasing importance of AI in driving business growth for Mphasis.
Mphasis’s efforts to leverage AI have been recognized globally, with the company being named as one of the top players in the Indian IT industry. The company has also been investing heavily in emerging technologies such as cloud, data analytics, and digital transformation to stay ahead of the competition.
The company’s focus on AI is not only driven by business needs but also by its commitment to innovation and customer satisfaction. Mphasis aims to deliver high-quality services that leverage AI and other emerging technologies to drive business growth for its clients.
As the IT industry continues to evolve and adopt emerging technologies, companies like Mphasis remain well-positioned to drive business growth for their clients. The company’s record quarterly TCV wins are a testament to its ability to attract large clients and deliver high-value projects that leverage AI and other emerging technologies. With its focus on innovation and customer satisfaction, Mphasis is poised to continue driving business growth in the coming quarters.
Mphasis’s commitment to leveraging AI will be crucial in driving business growth for the company as it navigates the evolving IT landscape. The company’s ability to deliver high-quality services that leverage AI and other emerging technologies positions it well to meet the changing needs of its clients.