HCLTech has won a strategic contract worth $1.14 billion from a Europe-headquartered Fortune Global 50 company to modernise the client’s digital workplace and enterprise network operations, the Indian IT services company said on Friday. The agreement is one of the largest deals announced by an Indian IT services company this year.
The company said the contract will involve establishing an artificial intelligence-driven operating model to transform and manage the customer’s global digital workplace and enterprise networks. HCLTech did not identify the client.
According to the company’s stock exchange filing, the initial term of the agreement will run from July 2026 until December 2031. The contract includes an option to extend it by a further five years. HCLTech also said the deal represents entirely new business for the company.
The announcement lifted HCLTech shares by nearly 6%. Investors welcomed the multi-year contract at a time when demand for large outsourcing deals remains closely watched across the technology sector.
The company did not disclose financial terms beyond the estimated contract value or provide details of the services to be delivered in individual markets.
The deal adds a major contract to HCLTech’s order book ahead of its quarterly earnings and comes as technology companies continue to invest in artificial intelligence to improve workplace services and network management. The agreement reflects continued demand for AI-based IT operations among large global businesses, although HCLTech has not disclosed when revenue from the contract will begin to be recognised or provided further implementation details.
In the first quarter, HCLTech expanded its artificial intelligence strategy through a series of partnerships, an acquisition and an investment. It signed a long-term IT services agreement with Neste, partnered with Nokia, Circles and GreySkies on AI-led telecom solutions, acquired business intelligence platform Jaspersoft from Cloud Software Group, and invested in sovereign AI startup Sarvam AI as part of its $234 million Series B funding round.
