Tech Mahindra Q1 Preview: Will the IT company surprise investors with its earnings?

Brokerages expect Tech Mahindra to report around 1 percent quarter-on-quarter constant currency revenue growth in Q1, led by telecom, with operating margins likely to expand by 30 to 50 basis points to roughly 14.3 percent. Net new deal wins are projected between 800 million and 1 billion US dollars, while investors will watch management commentary on AI strategy, BFSI recovery, and the FY27 EBIT margin target of about 15 percent.