IT cos win record large deals as demand for digital spikes

Top Indian IT services companies have clocked the highest-ever large deal wins during the fourth quarter ended March as demand for digital services continued to rise among enterprise clients. The large deals helped these firms post strong revenue growth in a seasonally weak quarter.

Digital transformation deals are a result of companies moving to a digital business model to stay competitive by adopting newer technologies. Such deals have seen a 30% jump since the beginning of the pandemic, according to a Nasscom-McKinsey report.

Tata Consultancy Services Ltd (TCS) reported its highest quarterly deal closure of $9.2 billion for Q4. For FY21, the order book stood at $31.6 billion, up 17% year-on-year.