HCLTech has signed a $1.14 billion contract with a major European company, the Indian IT services group said Thursday, in what is its largest single deal since a $2.1 billion agreement with Verizon in August 2023.
The client is described only as a Fortune Global 50 firm, and neither side has named it publicly.
The deal covers what HCLTech calls an AI-driven operating model for the client’s global digital workplace and enterprise networks, spanning five and a half years from July 2026 to December 2031, with an option to extend by another five.
HCLTech has said the business is entirely net-new, not an expansion or renewal of an existing account, which matters for a company whose deal wins are watched closely as a proxy for enterprise IT spending.
Shares in HCLTech jumped as much as 6.3% on the news, dragging the wider Nifty IT index up around 2.7%, though the exact size of the move varied depending on when during the trading session it was measured.
