Wipro Limited

Ladies and gentlemen, good day and welcome to Wipro Limited Q2 FY26 earnings conference call. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star and zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Abhishek Jain, Vice President, Corporate Treasurer and Head of Investor Relations. Thank you and over to you.

Thank you, Yashashree. Warm welcome to our Q2 FY26 earnings call. We will begin the call with the business highlights and overview by Srinivas Palia, our Chief Executive Officer and Managing Director, followed by updates on financial overview by our CFO, Aparna Iyer. We also have CHRO, Saurav Gobind, and our Chief Strategist and Technology Officer, Hari Shetty on this call. Afterwards, the operator will open the bridge for Q&A with our management team. Before Shini starts, let me draw your attention to the fact that during this call, we may make certain forward-looking statements within the meaning of Private Securities Litigation Reform Act 1995. These statements are based on management's current expectation and are associated with uncertainties and risk, which may cause the actual results to differ materially from those expected. The uncertainties and risk factors are explained in our detailed filings with the SEC. Wipro does not undertake any obligation to update the forward-looking statements to reflect events and circumstances after the date of filing. The conference call will be archived and a transcript will be available on our website. With that, I would like to turn over the call to Shini.

Shini, over to you. Thanks, Abhishek. Good evening, and thank you all for joining us today. In quarter two, our IT services revenue stood at $2.6 billion with sequential growth of 0.3% in constant currencies. Our adjusted operating margin for the quarter was 17.2%. This is within the narrow band we had previously indicated, and it's an improvement of 0.4% compared to the same period last year. Let me now walk you through some of the highlights and key moments for this quarter. Within our markets, three of the four SMUs reported sequential growth. Americas 1 delivered sequential and year-on-year growth driven by strong performance in healthcare, technology, and communication sectors. Americas 2 saw a decline this quarter. However, we remain confident about future growth in this region as some of the deals we won in the first half are now beginning to ramp up. Europe returned to sequential growth in Q2 after several quarters led by BFSI. The Phoenix deal is set to start generating revenue from Q3, providing further momentum. Apnea growth was filled by strong results in India Australia and Southeast Asia. Capco grew both sequentially and year on year with momentum coming from newer markets like LATAM and APMIA. Turning to our industry sectors now, we continue to see momentum in BFSI with clients prioritizing cost optimization vendor consolidation, legacy modernization, and scaled deployment of agentic AI. Tariff uncertainties continue to impact the consumer, energy, and manufacturing sectors, leading customers to re-evaluate their supply chains. In technology and communications, the focus is on accelerating AI adoption and developing industry-specific solutions with cost optimization remaining central. Healthcare, especially in the U.S., is undergoing structural changes. We are actively supporting clients through this transition, and the sector remains one of our strong performers. Coming to deal wins and pipelines, this quarter, we closed $4.7 billion in total contract value and signed 13 large deals. Much of this demand is driven by vendor consolidation, AI-powered transformations, and consulting-led programs, areas where our strategy is truly making an impact. Our order bookings this quarter also include two mega deals, one with a healthcare client and another in BFSI. While a significant portion of these two deals are renewals, they are important for deepening our presence and unlocking future growth in these accounts. We are seeing strong momentum in Europe and I want to highlight two examples that bring this to life. First, Wipro has formed a strategic multi-year partnership with a leading UK financial company to modernize the business. We are using our Vega AI platform and a new center of excellence to drive this change. We are helping improve customer experiences and streamlining back office operations. We are also bringing advanced AI to business and technology streams like HR, mortgages, financial crime prevention, and of course, IT. This will optimize workflows and support real-time decisions for our client. Above all, it will help become more resilient for the future. In my second example, we are partnering with the leading European distribution and logistics company on a multi-year transformation of their operations and IT. By leveraging our expertise in operating model design, process standardization, and technology modernization, we are helping them move to a unified digital core, making their operations more efficient and unlocking long-term growth with AI and digital tools. Now, I am excited. to introduce Wipro Intelligence, our unified suite of AI-powered platforms, solutions, and transformative offerings. With Wipro Intelligence, we are enabling our clients to scale with confidence and lead in an AI-first world. It strengthens our consulting-led approach, driving innovation and delivering measurable outcomes for our clients. In fact, Wipro Intelligence brings together advanced capabilities across delivery and industry platforms. Our delivery platforms are already accelerating work from software development, infrastructure and cloud to business process operations. And on the industry side, we have reimagined core business processes and developed more than 200 AI agents and platforms spanning multiple sectors. As AI continues to evolve, we are helping clients experiment, adapt, and scale rapidly by working closely with our partners, ventures, and leading research institutions. Wipro Intelligence is about proof, not just promise. We embed productivity, gain, assure business outcomes, and build in responsible AI guardrails. Let me share three examples of our solutions. One, AutoCortex for our automotive sector, Wealth AI for BFSI, and Payer AI for healthcare. Each of them is already making a tangible difference for our clients and also earned strong recommendations from industry analysts. This momentum gives us real confidence for the future. With that, let me move on to our forecast for the next quarter. In quarter three, we are projecting sequential IT services revenue growth of minus 0.5% to plus 1.5% in constant currency. Our priority remains converting our strong backlog into revenue while maintaining operational discipline to ensure profitable growth. And with that, I'll hand it over to Aparna, who will take you through the financials in more detail. Over to you, Aparna.