The order book of Tata Consultancy Services (TCS), the country’s largest IT services company, was excellent in the December 2024 quarter. The company’s order book during this quarter was the highest in the last 5 financial years. The total contract value (TCV) of the company during December 2024 stood at $ 10.2 billion.
The company has received this order at a time when this quarter is considered weak in core markets like North America. Total contract value in the December 2024 quarter stood at $8.1 billion, up 25.93% year-on-year, while it increased by 18.6% quarter-on-quarter. The deal that TCS won during the December 2024 quarter also includes a digital solutions deal with the Department of Social Protection of Ireland for a period of 15 years. Apart from this, the company also made deals with Bank of Bhutan and Air France-KLM.
The company appointed CEO and Managing Director K. Kritivasan said, ‘We are very pleased to announce a strong increase in total contract value in the third quarter.’
Talking about geography, the company saw good demand led by the Indian market. During this period, demand in the Indian market increased by 70.2%, while demand growth in Asia Pacific and Latin America was 5.8% and 7% respectively. BSNL deal worth Rs 15,000 crore played an important role in the growth of the Indian market. However, this is likely to slow down in the coming quarters as the project has passed the peak phase of revenue generation.