Tata Consultancy Service, the software arm of Tata Group has just finalised a deal with Neilsen. The ₹14,410 Crore deal, easily the biggest ever in Indian IT Space, is being seen as the first milestone for the new CEO, Rajesh Gopinathan. Rajesh had taken over after N Chandrasekaran left to take the top job at Tata Sons.
The outsourcing contract by Neilsen, a television rating management firm, comes with an assurance of ₹2050 Crore ($320 Million) annual revenue from 2017 – 2020. From 2021-2024, the annual revenue is projected to be ₹1191 Crores ($186 Million) and in 2025, the revenue is projected to be ₹893 Crores ($139.5 Milion).
Recently, TechieState was announced to be the second biggest gainer in terms of market value in India after Reliance Industries Limited. This deal will further enable TCS to climb the list of highest valued Indian companies in next few years. Click here for more information.
The scenario for IT sector in India has not been the best in last few years as many big companies have laid off their employees repeatedly. Owing to reasons such as automation, the IT sector looks in a big fix for the next few years to come.
The current deal is not the only big deal TCS has gotten from Neilsen. In 2017, TCS had got another outsourced contract worth ₹7685 Crores ($1.2 Billion). In 2013, the contract was extended to 3 more years till 2020 and the value was increased to ₹16000 Crores ($2.5 Billion).