LTIMindtree Lands $100 Million US Deal as Big Ticket Wins Pile Up
India's sixth largest IT firm has signed a multi year deal worth over $100 million with a US chemicals and polymers maker and is leaning on AI and automation to lock in efficiency gains.
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[Image source: Chetan Jha/MITSMR India]
IT services and consulting firm LTIMindtree said it has signed a multi-year deal worth more than $100 million with a US-based chemical and polymer manufacturer, extending the company’s run of large wins this year and underscoring how Indian IT vendors are leaning on AI and automation to defend pricing.
India’s sixth-largest IT services firm shared details of the deal in a regulatory filing on Monday, but did not name the client.
Under the agreement, LTIMindtree will manage core business applications, infrastructure operations, end-user support, software asset governance and project execution for the US industrial client.
The company said the work is designed to “drive intelligent efficiencies” using AI and automation, cut costs through vendor consolidation and keep a steady pipeline of incremental improvements rather than one-off transformation projects.
“This win reinforces LTIMindtree’s position as a trusted transformation partner focused on AI-centric growth in the chemicals and energy sector,” said Venu Lambu, chief executive officer and managing director, LTIMindtree.
Ramesh Kannan, chief business officer for energy and utilities at LTIMindtree, said the partnership is aimed at “building a future-ready IT ecosystem powered by innovation, efficiency, and excellence.”
The new deal adds to a string of marquee contracts the L&T group firm has landed this year.
Earlier this month, LTIMindtree signed one of its biggest deals with a leading global media and entertainment firm (reportedly Paramount) to streamline operations and modernize delivery using automation and vendor consolidation.
In May, it announced a $450 million, seven-year agreement with a leading global agribusiness that people familiar with the matter identified as Archer-Daniels-Midland.
The company has also pushed deeper into government digital infrastructure work at home. In August, it was awarded a ₹792 crore ($90 million) mandate by India’s Central Board of Direct Taxes to transform the Permanent Account Number (PAN) system that will migrate legacy tax ID data, link it more tightly to Aadhaar.
Deal flow has started to show up in earnings data. LTIMindtree reported a net profit of ₹1,381 crore (about $157 million) on a revenue of ₹10,394 crore (about $1.18 billion) for the quarter to September, up a little over 10% year-on-year on both profit and revenue, with banking and manufacturing leading growth.
Total contract value signed in the quarter was $1.59 billion, compared with $1.63 billion in the previous quarter and $1.3 billion a year earlier, marking a fourth straight quarter near the $1.6 billion range. North America accounted for about three-quarters of revenue.
