Wipro’s large deal bookings fell to a 19-quarter low in the September quarter, while total contract value (TCV) dropped to a 15-quarter low. The IT services company expects deal bookings to rebound in Q3, with contracts awarded to it but not signed during the July-September quarter expected to close in the current quarter.
Wipro closed $700 million in large deals in Q2 FY27, down nearly 59 percent sequentially in constant currency terms. Overall TCV fell nearly 23 percent sequentially to $2.6 billion.
Chief Executive Officer and Managing Director Srinivas Pallia said a few deals expected to be signed in Q2 had been awarded to Wipro, but the paperwork was not completed in time. These deals are expected to flow into Q3, bolstering bookings in the current quarter.
“These will flow into quarter three and be very, very bullish about our quarter three bookings performance,” Pallia said during the company’s post-results press conference.
Wipro did not disclose the value of the deals that slipped into Q3.