Tech Mahindra bags $250 mln contract from US firm
MUMBAI (Reuters) - Telecom services firm Tech Mahindra Ltd has bagged a $250 million, 7-year contract from a North Amercian telecom services firm, a senior official said on Tuesday.
It has also won a smaller, 3-year deal from a Kuwait-based telecom firm for under $10 million, head of marketing, Rajesh Chandiramani, told Reuters, adding it will be providing system integration support.
Revenues from both contracts will start flowing in from the last quarter of the current financial year, he said.
The North American deal, signed during the current quarter, envisages system consolidation with up to 700 people engaged in the contract, Chandiramani said.
"As an organisation we are committed to signing large deals. The strategy is to engage in contracts of longer periods," he added.
In July the company had announced a 5-year, $700 million deal from BT Group Plc while it has an ongoing engagement for a $1 billion contract with BT Global Services and a third $350 million deal from BT for application support.
Tech Mahindra is a joint venture between India's automobile company Mahindra & Mahindra Ltd and the BT Group.
Shares in Tech Mahindra were trading up 3.6 percent at 802 rupees in the Mumbai market.
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