India’s sixth-largest technology services company, LTIMindtree, has reportedly won its largest deal ever. The company focuses on revolutionising smaller clients and grabbing a higher share of vendor consolidation deals with artificial intelligence (AI), the biggest transforming technology. Now, the company has established a strong presence in the market. 

“We are now embedding AI into each of our services, reimagining with AI…The bulk of our large deals that we announced this quarter came because of that differentiated AI offering. This is one of our largest deals in the history of the company, that we signed with a manufacturing client,” said Nachiket Deshpande, chief operating officer at LTIMindtree, in an interview. 

In the second quarter ending September FY2025, the company closed several multi-year projects, including a $200 million deal from a US-based manufacturer. The total order intake for the three months was flat year-on-year at $1.3 billion. 

LTIMindtree’s revenue grew by 3.2% quarter-on-quarter and 5.9%  year-on-year to Rs. 9,432.9 crore, making a profit of almost  Rs. 1,250 crore. The company is also seeing further profit. 

Because of the AI-centric approach, we were able to consolidate from four vendors to one, LTIMindtree. Deshpande added that the firm is cautiously working on some tail rationalisation in case there is no strategic improvement in client relationships.

LTIMindtree is the merger of L&T Infotech and Mindtree, which was formed in November 2022.

India’s sixth-largest technology services company, LTIMindtree, has reportedly won its largest deal ever. The company focuses on revolutionising smaller clients and grabbing a higher share of vendor consolidation deals with artificial intelligence (AI), the biggest transforming technology. Now, the company has established a strong presence in the market. 

“We are now embedding AI into each of our services, reimagining with AI…The bulk of our large deals that we announced this quarter came because of that differentiated AI offering. This is one of our largest deals in the history of the company, that we signed with a manufacturing client,” said Nachiket Deshpande, chief operating officer at LTIMindtree, in an interview. 

In the second quarter ending September FY2025, the company closed several multi-year projects, including a $200 million deal from a US-based manufacturer. The total order intake for the three months was flat year-on-year at $1.3 billion. 

LTIMindtree’s revenue grew by 3.2% quarter-on-quarter and 5.9%  year-on-year to Rs. 9,432.9 crore, making a profit of almost  Rs. 1,250 crore. The company is also seeing further profit. 

Because of the AI-centric approach, we were able to consolidate from four vendors to one, LTIMindtree. Deshpande added that the firm is cautiously working on some tail rationalisation in case there is no strategic improvement in client relationships.

LTIMindtree is the merger of L&T Infotech and Mindtree, which was formed in November 2022.

LTIMindtree, the sixth-largest technology services provider in India, is leveraging artificial intelligence (AI) to boost its business. The company is rationalizing smaller clients and positioning itself as a key player in vendor consolidation deals, aided by its advanced AI-driven services. According to Chief Operating Officer Nachiket Deshpande, AI is now embedded in each of their offerings, which has played a crucial role in securing several large deals this quarter.

“We are now embedding AI into each of our services, reimagining with AI…The bulk of our large deals that we announced this quarter came because of that differentiated AI offering. This is one of our largest deals in the history of the company, that we signed with a manufacturing client,” Deshpande told ET.

In the second quarter of FY25, ending September, LTIMindtree closed several multi-year projects, including a $200 million-plus agreement with a U.S.-based manufacturer. However, the total order intake was flat year-on-year at $1.3 billion, reflecting a 7% decline from the previous quarter, as per the report by ET.

Despite this, the company’s revenue grew by 3.2% quarter-on-quarter (QoQ) and 5.9% year-on-year (YoY) to Rs 9,432.9 crore. Net profit stood at Rs 1,251.6 crore, marking an increase of 10.3% QoQ and 7.7% YoY.

Consolidation and Tail Rationalization

LTIMindtree’s AI-focused strategy has allowed it to consolidate from four vendors to one. As per the report by ET, this vendor consolidation, coupled with cautious tail rationalization, aims to strengthen client relationships. “Because of the AI-centric approach, we were able to consolidate from four vendors to one, which is LTIMindtree,” said Deshpande. He also hinted at rationalization efforts for clients showing no strategic improvement.

Future Growth Prospects

The company’s large deal pipeline remains strong, standing at over $5 billion, with several agreements nearing finalization. Deshpande added that the majority of the deal growth is expected to come from the cost takeout space. “Basically, either where we are already an incumbent, there is a vendor consolidation, where we are increasing our market share with that customer,” he said to ET.

The Mumbai-headquartered firm, which was formed from the merger of L&T Infotech and Mindtree in November 2022, is also looking ahead to a potential leadership transition. According to the report by ET, Deshpande is considered a frontrunner to succeed the current CEO, Debashis Chatterjee, whose term ends in November next year.