New Chairman outlines AI strategy at 35th AGM, FY26 TCV up 68% to USD 2.1B

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AI summary

New Chairman Girish Paranjpe addressed the 35th AGM. FY26 new TCV wins grew 68 percent to USD 2.1 billion, with 60 percent AI-led. AI-led pipeline at 69 percent. Platforms NeoIP and Mphasis Tria highlighted as key AI assets. Chairman noted enterprise hesitation on AI due to rapid tech change, plus macro headwinds from geopolitics and trade. He acknowledged pipeline to revenue conversion is underway but not yet complete and some deals are taking longer to close.

Likely market impact

Strong AI-led TCV growth and pipeline support outlook, but revenue conversion is still in progress amid macro and AI adoption uncertainty.