Indian IT exporter LTIMindtree bags $450 million deal, its largest ever
FILE PHOTO: Figurines with computers and smartphones are seen in front of LTIMindtree logo in this illustration taken, February 19, 2024. REUTERS/Dado Ruvic/Illustration/File Photo
Indian software services exporter LTIMindtree bagged a $450 million multi-year deal, its largest ever, the company said on Monday.
Its shares rose as much as 7.7 per cent. They were trading about 6 per cent higher before the news, tracking a broader IT sector rally on easing global recession worries.
LTIMindtree said the customer was a global agribusiness company, without disclosing the name.
The deal comes at a time when larger peers are struggling to secure mega deals as macroeconomic uncertainties and tariff risks weighed on India's $283 billion IT sector.
Large deals are key revenue drivers for IT services companies.
Last month, the company reported fourth quarter revenue that marginally missed estimates.
