Wipro wins multi-million dollar deal from Standard Chartered

livemint.com:

Mint could not independently verify the value of the contract. “The deal would include Wipro handling Standard Chartered’s data transformation work and IT infrastructure. There will be a digital aspect to it as well," said one of the two people, seeking anonymity.

However, it couldn't be immediately ascertained whether this contract between Wipro and Standard Chartered is a new deal, or part of an existing agreement. “Wipro already had a certain number of people working with Standard Chartered. Now, that number may have gone up," said the second executive privy to the development, also seeking anonymity.

If India’s fourth largest IT services company were to get at least $50 million annually from the Standard Chartered account, it would translate into revenues of $150 million by 2027, the second person added. Emailed queries to a Wipro spokesperson remained unanswered till press time. In an emailed reply to Mint’s queries, a Standard Chartered spokesperson said: “We would like to state that as an international bank, we work with several partners who support us in our transformation journey.

With regards to the information cited in your mail, we would like to categorically state that the information mentioned is inaccurate." According to a stock exchange filing on 6 June, Wipro won a five-year deal from an American communications service provider, valued at $500 million, or $100 million annually, until 2029. This deal would contribute to 0.9% growth for Wipro. However, the IT services firm did not disclose the name of the client.