- Wipro will start executing the Phoenix deal in Q3 of fiscal 2025-26, says CEO Srini Pallia
- Wipro’s recent deal wins include two in banking and financial services and one in technology sector
- Transmission deals will progress once tariff clarity improves, after some projects were paused
Wipro Ltd. will start executing the Phoenix deal in the third quarter of fiscal 2025-26, according to CEO Srini Pallia. "Some of the deals that Wipro has won may take us a quarter to ramp up and reach the execution phase," he told NDTV Profit.
"While we are set to begin in the fourth quarter, execution will start in the third quarter, as there is a lot of planning that needs to happen," he added.
Pallia emphasised that Wipro's deep understanding of clients' businesses is what sets it apart. "If you look at the mega deals we have signed, two were in the banking and financial services sector, and one was in the technology and communications services sector," the CEO said.
"We brought in consulting expertise, domain knowledge, and tailored the solution to how the client envisioned implementation going forward. These factors, along with our long-term partnerships, significantly contributed to our success," he noted.
Commenting on transmission deals, Pallia stated that they will kick in once there is clarity on tariffs. "There were some major changes last quarter where a client put a project on hold due to their tariff situation. Once the situation improves, we expect those transmission deals to move forward," he said.
Pallia also mentioned that the current focus is on executing deals already won. "Our deal wins are a combination of cost optimisation and vendor consolidation,” he added.
Cash Flow Generation Remains Strong: CFO
Wipro CFO Aparna Iyer said, "We began the fiscal year with $6.2 billion in gross cash, which has already improved in the first three months. We have consistently generated 120% and above in terms of net income." She added that cash flow generation remains strong and is expected to continue to be robust going forward.
Highlighting the company's strong financial foundation, Iyer said, "We are starting off with a very solid base of cash from the balance sheet, which gave us the confidence to increase capital allocation."
"Even while increasing capital allocation, we ensured that we retained enough of a war chest to pursue both organic and inorganic investments. We are confident in our ability to support this increased allocation," Iyer said.
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