‘ } CompaniesJas Bardia 3 min read 26 Mar 2025, 08:02 PM ISTWipro is expected to get $65 million in revenue from the company annually (REUTERS)SummaryThis deal comes amid a draught in big-ticket deals for India’s largest IT outsourcing companies. Still, Wipro is likely to end FY15 with a decline in revenue. Wipro Ltd bagged a 10-year contract with UK-based insurance company Phoenix Group, valued at $650 million, making it the second deal of $500 million and upwards in less than a year for the country’s fourth largest information technology (IT) services company. This means that Wipro is expected to get $65 million in revenue from the company annually. The company would be handling Phoenix’s policy administration, claims processing, customer support, data management and compliance support, Wipro announced on Wednesday. This deal comes amid a draught in big-ticket deals for India’s largest IT outsourcing companies. Wipro, which ended last fiscal with $10.8 billion in revenue, signed a five-year deal valued at $500 million with an unnamed US-based communication service provider in June last year. “This strategic engagement with Phoenix Group reflects our commitment to leveraging our deep transformation expertise around process and technology–including cloud, data, and AI to drive increased operational agility for clients in the financial services sector,” said Nagendra Bandaru, global head of technology services for Wipro.Wipro will also establish tech centres in the UK for Phoenix. Employees from the insurance company will transition to Wipro as part of this. At least one analyst cheered this move. “Even before Pallia took over as CEO, some of the large deals that Wipro won came from his portfolio. Now, those deals are coming from other verticals and this means that he is implementing his success formula across the organisation,” said Abhishek Kumar, research analyst at JM Financial. “Such consistent deal wins should help them bridge the growth rate gap with larger peers.”Pallia’s leadership strategy takes shapeFor Srini Pallia, who was tasked with reviving the fortunes of the company, which ended last year with a revenue decline, the deal comes as a silver lining. Pallia’s two large deals in quick succession came after his predecessor Theirry Delaporte failed to bag such large deals later in his stint as Wipro CEO. Pallia, who took over as Wipro’s chief executive on 6 April 2024, was tasked with steering the company to growth. For now, Pallia is looking to keep things simple. The company is not looking to sign or renew deals below its operating margins of 16%, and expensive team offsites are being shifted to virtual mode.The company underwent a reorganisation under Pallia’s watch last week, creating four business units including Technology Services, Business Process Services, Consulting Services, and Engineering. As part of the rejig, Jo D in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. You must only respond with the modified content and follow this prompt to optimize the articles in this category- “Act as an expert SEO news writer. Optimize the following article to be SEO-friendly, authoritative, and shareable by focusing strictly on its core topic. Follow these steps: 1. Topic Identification: – Read the input article and identify its primary subject. – Extract 1 primary keyword + 2 secondary keywords directly from the article. 2. Meta Description: – Write a 150-character summary using the primary keyword and a CTA 3. Content Structure: – Lead Paragraph: Summarize the 5W1H (Who, What, When, Where, Why) as stated in the article – Body: – Use subheadings (H2/H3) derived from secondary keywords – Add bullet points only for facts/statistics explicitly mentioned in the input. – Include quotes or data from the article (do not invent new stats). – Conclusion: End with a question/CTA tied to the article’s topic. 4. – Add 1 FAQ based on the article’s key point. 5. Viral Readability: – Use news article sentences structure. Avoid off-topic emotional triggers. 6. Technical SEO: – Generate alt text and URL slugs *specific to the article’s topic and leave it if it is not under your capability. Output Format for the article should be- [Summary with primary keyword] [Structured body using input’s facts] FAQ: [Relevant question + answer]
Wipro secures a $650 million contract with the Phoenix Group, marking its second significant contract in under a year.
