From TCS to Tech Mahindra, record deals cheer IT firms in Sept quarter

TCS, the largest, attributed differentiated capabilities for its $4.9-bn deal TCV, of which $1.5 bn came from banking, financial services and insurance (BFSI) and $0.7 bn from retail

The September quarter’s financial results of information technology (IT) majors have delivered festive cheer, at least on the deals front. 

Most of the majors saw impressive order booking, reporting deals with a record amount in total contract value (TCV). Tech Mahindra, for example, reported an all-time high in net new deal wins, with a TCV of $550 million. Infosys recorded its best ever large deal wins in a quarter, with a TCV of $2 billion (the previous highest was $1.2 billion), almost 63 per cent of which were new deals. Tata Consultancy Services (TCS) reported quarterly large-deals (new deals and