Tech Mahindra Beats TCS, HCLTech Blues with 34% Profit Surge in Q1 FY26

Tech Mahindra has kicked off FY26 on a strong note with a 33.95% rise in net profit, touching ₹1,140.6 crore in Q1—defying analyst expectations despite revenue headwinds. CFO Rohit Anand credited the performance to disciplined execution under Project Fortius, stating, “We have delivered seven consecutive quarters of margin expansion.”

On the AI front, CEO Mohit Joshi emphasized that Tech Mahindra is moving beyond experimentation to operationalising AI at scale, deploying over 200 industrial-grade AI agents. He reinforced the company’s commitment to reinventing IT services through a hybrid human-agent model, noting, “The goal is to use AI not just to reduce costs but to unlock new revenue streams.”

The company’s recent partnership with Agentic AI startup KogoAI marks a strategic move to deliver next-gen enterprise solutions around Private AI. Internally, the company has trained 77,000+ employees in AI and GenAI, strengthening its talent bench with hires like Amol Phadke as Chief Transformation Officer.

With deal wins hitting $809 million, a capable AI-trained workforce, and a no-hype strategy Joshi describes as “AI delivered right,” Tech Mahindra is charting a confident path forward amid a mixed macroeconomic environment.

Source: GWFM Research & Study