LTIMindtree logo.
Credit: X/@LTIMindtreeOFCL
IT services firm LTIMindtree has won a $100 million multi-year deal with a US-based global manufacturer of chemicals and polymers. The company did not disclose its name.
Under this agreement, LTIMindtree will deliver comprehensive IT services, encompassing core Business Applications, Infrastructure Operations, End User Support, Software Asset governance, and Project execution.
"The engagement is designed to drive intelligent efficiencies leveraging AI, automation, and streamlined processes, while enabling cost optimisation, vendor consolidation, and continuous innovation to enhance service delivery and achieve strategic outcomes," the company said in a BSE filing.
“This win reinforces LTIMindtree’s position as a trusted transformation partner focused on AI-centric growth in the chemicals and energy sector. We’re committed to delivering measurable outcomes through technology, agility, and deep domain expertise,” said Venu Lambu, Chief Executive Officer and Managing Director, LTIMindtree.
With a workforce of over 86,000 employees across more than 40 countries, LTIMindtree, a Larsen & Toubro Group company, reported a 12% increase in its consolidated net profit to Rs 1,401 crore in the second quarter ended September. Its revenue from operations in the second quarter stood at Rs 10,394.3 crore, a 10% increase compared to Rs 9,433 crore in the year-ago period.
Meanwhile, mid-tier IT services firm Mphasis on Monday announced the launch of Mphasis NeoIP, an Artificial Intelligence (AI) platform, integrating multiple Mphasis.ai innovative solutions, designed for continuous enterprise transformation and differentiating competitive advantage.
The platform perpetually rewires core systems, turning enterprise knowledge across legacy systems, data and operations, driving intelligent engineering, the company said.
"Traditional enterprise transformation often fails to deliver value and requires ongoing reinvestment to keep pace with AI's rapid evolution. NeoIP redefines the model. NeoIP brings together Mphasis-built AI solutions, partner technologies, and client assets into a single platform that supports multiple data sources, large and small language models, and computing environments. It represents the future of enterprise tech, which is intelligent by design, secure by default, and scalable by nature," said Nitin Rakesh, Chief Executive Officer and Managing Director, Mphasis.