With global macro-economic headwinds hurting the business of IT companies and clients paring some discretionary spends, Wipro intends to focus on areas such as AI and cloud. Jatin Dalal, CFO, Wipro, told FE that Wipro will remain focussed on accelerating its transformation, and is investing significantly in people and technology to build a more agile and efficient organisation.

“Yes, we do see tech spends normalising after sharp acceleration in the recent years but there are other growth areas like AI and cloud transformation and our focus will be to maximize wins in these areas.”

Dalal pointed out that Wipro has seen its business from Europe grow from $2 billion to over $3 billion in the last three years. “Europe is a great example of the success of our transformation and how our business model has evolved to enable us win large transformation deals, benefit from the consolidation in the marketplace, and expand our relationships with existing clients.”

The Bengaluru based IT giant , has, in the last three years, acquired two companies in Europe – Capco for$1.45 billion and 4C, one of the largest Salesforce partners in the UK, Europe, and the Middle East. Both the acquisitions were seen as Wipro’s strategy to expand in Europe, say analysts.

Wipro is reaping the dividends from its European business.Europe was Wipro’s fastest growing region in Q4 of FY23 and FY 23; revenues were up 9.5% Y-o-Y in constant currency terms for Q4 and 12.3% Y-o-Y in FY23. In Q1 of FY24, Europe has grown 4.1% YoY.

The Bengaluru based IT giant , has, in the last three years, acquired two companies in Europe – Capco for$1.45 billion and 4C, one of the largest Salesforce partners in the UK, Europe, and the Middle East. Both the acquisitions were seen as Wipro’s strategy to expand in Europe, say analysts.

Wipro is reaping the dividends from its European business.Europe was Wipro’s fastest growing region in Q4 of FY23 and FY 23; revenues were up 9.5% Y-o-Y in constant currency terms for Q4 and 12.3% Y-o-Y in FY23. In Q1 of FY24, Europe has grown 4.1% YoY.

On the question of improving employee productivity, he explained, “Wipro’s focus is to improve the uptime and productivity of our entire workforce. Our approach is based on sustained high performance, and we recognize the importance of rewarding those who consistently excel in their roles. This is aided further by increased use of automation.”

Speaking of large deals, Dalal said Wipro has been seeing a healthy growth of signing large deals. “In FY’22, we have booked large deal total contract value (TCV) of $2.3 billion. In FY23, we have signed 55 large deals with a TCV of $3.9 billion, a growth of 66.5% YoY. Further, in Q1 of FY24 we have signed 10 large deals with total TCV of $1.2 billion.”