LTIMindtree Beats TCS, Infosys & Wipro to Bag Record $580 Million Deal With Global Media Giant

Indian IT services company LTIMindtree has made headlines by winning its largest-ever deal, valued at around $580 million, according to two people familiar with the matter. The company announced the news on Monday, calling it a major partnership with a leading global media and entertainment company. However, LTIMindtree did not reveal the name of the client or confirm the exact deal value officially.

A Major Milestone for LTIMindtree

LTIMindtree, India’s sixth-largest software services exporter, said in a statement that this partnership will help the client “streamline operations and modernize delivery models, incorporating automation, process optimization, and vendor consolidation.”

The company added that it will play a key role in transforming the client’s technology operations and making them more efficient through automation and process improvement. This marks a significant milestone for LTIMindtree, which continues to grow its presence among global technology service providers.

While the company has not commented on the deal’s size or the client’s identity, two people aware of the discussions confirmed that the value stands at around $580 million, making it LTIMindtree’s biggest contract to date.

Comes Amid a Challenging IT Climate

The deal arrives at a time when India’s $283-billion IT sector is facing multiple challenges. Global economic uncertainty, tariff-related risks, and changes in U.S. immigration policy have created a tough environment for growth.

India’s top IT companies, including TCS, Infosys, and Wipro, are set to report their financial results for the September quarter starting Thursday. Analysts have already predicted muted results for most companies, with many struggling to secure big deals or show consistent revenue growth.

However, LTIMindtree’s latest win could offer a much-needed boost of confidence to the IT industry, showing that Indian firms are still landing high-value, global contracts despite market challenges.

Second Big Win in 2024

This isn’t the first major deal LTIMindtree has signed this year. In May 2024, the company announced a $450 million contract, which was then its biggest deal. Sources later revealed that the client was U.S. agribusiness giant Archer-Daniels-Midland (ADM).

Now, with the new $580 million contract, that record has been broken. LTIMindtree’s strong deal momentum highlights its growing strength in managing large-scale, global technology projects.

Following the announcement, LTIMindtree’s shares jumped 3% on Monday, October 6, marking their biggest daily rise in nearly five months. Investors appeared optimistic about the company’s ability to continue attracting major clients and expanding its footprint in the competitive IT space.

About LTIMindtree

LTIMindtree Limited is an Indian multinational IT services and consulting company based in Mumbai. A subsidiary of Larsen & Toubro, it was founded in 1996 and currently employs more than 81,000 people across the world.