In December, Wipro’s chief growth officer and head of large deals Stephanie Trautman had also quit after the Bengaluru-based IT services firm failed to bag any major mega deal since it formed a growth office three years ago. The growth office, formed to strategise Wipro’s approach to large deals, was disbanded and formed into strategic market units (SMUs) to be overlooked by the then CEO Delaporte.
Large or mega deals or contracts are typically valued at more than $500 million and are key revenue drivers for most IT services firms.
More than a month ago, without giving an exact size, Wipro had announced a multi-billion dollar deal with Nokia to overhaul its employee service desk and offer real-time IT support to its global network of employees.
For FY24, Wipro announced $4.6 billion worth of large deals. However, the individual deal sizes were not shared.
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Last fiscal, communications constituted the least to the revenue at around 4.2% of its total $10.8 billion revenue, behind manufacturing’s 6.9% share, technology at 11.7% and energy, natural resources & utlities at 11.8%. Like most top tier firms, banking, financial services and insurance (BFSI) accounts for the highest market share with Wipro’s exposure at one-third of the business at 33.4%.Before the announcement on Thursday, Wipro’s shares closed at Rs 461 apiece, up 2.06% from its previous close as BSE-Sensex ended 0.93% higher.
