Wipro Limited

Ladies and gentlemen, good day and welcome to Wipro Limited Q3 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 then zero on your touchtone phone. Please note that this conference is being recorded and the duration for today's call will be for 45 minutes. 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, sir.

Thank you, Yasashree. Warm welcome to our Q3 FI26 earnings call. We'll 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 our CHRO, Saurav Govil, 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 Srini 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 Security Litigation Reform Act 1995. These statements are based on management's current expectations and are associated with uncertainties and risks. 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.

Thank you, Abhishek. Good evening and thank you for joining us today. a very happy new year to you. Let me start with the broader environment before walking you through our quarterly performance and how we are positioning Wipro for an AI-first world. Across our client landscape, one thing is clear. Organizations are reshaping priorities as AI influences how they plan, invest and operate. In fact, AI is now a standing board-level mandate led by CEOs who recognize its ability to transform business models, unlock productivity, and create lasting competitive advantage. We are also seeing the same themes continue from past quarters in our deal pipeline. Cost optimization vendor consolidation, and a clear shift towards AI-led transformation. In quarter three, we also marked two important milestones for Wipro. In December, we completed 80 years as a company. And in October, we celebrated 25 years of being listed on the New York Stock Exchange. These milestones reflect a legacy of strong governance, values, and integrity, a foundation of trust that continues to differentiate us with our clients, partners, and investors. Turning to quarter three performance, our IT services sequential revenue at $2.64 billion grew 1.4%. on a constant currency basis. Excluding Harman DTS acquisition, revenue grew 0.6% in constant currency terms. Growth was broad-based with three of our four markets and four of our five sectors reporting sequential gains. America's one delivered sequential and a year-on-year growth driven by strong performance. in healthcare, consumer, and LATAM. America, too, saw a sequential decline. Europe grew sequentially in Q3, led by ramp-up of the earlier announced mega-deal. We are also seeing good traction in the UK and Western Europe. APMEA grew sequentially and year-on-year, led by India, Middle East, and Southeast Asia. BFSI continues to show strong traction with ramp-ups and new wins. Capco revenue was impacted by furloughs and remained flat year-on-year. Our operating margin at 17.6% expanded 0.4% for adjusted quarter-to-margin and 0.1% year on year. We closed $3.3 billion in total contract value and $871 million in large deal bookings. Last quarter, I introduced Wipro Intelligence. It's a unified approach to delivering AI-powered transformation across industries. This approach is anchored on three strategic pillars. First, industry platforms and solutions. We are building consulting-led AI solutions across sectors. For example, platforms like Pair AI in healthcare, Net Oxygen for lending, and AutoCortex for automotive. These solutions help streamline operations, improve customer outcomes, and open up new avenues for growth. Second, our delivery platforms accelerate AI adoption at scale. Wing, out of our repro intelligence, brings AI into the heart of operations, from application management to infrastructure support and business process operations. Vega adds AI-driven capabilities across the development lifecycle, from wipe coding to model tuning and data pipeline. Together, these platforms help our clients modernize faster and operate smarter. Third, the Wipro Innovation Network. This connects our labs with partners, startups, universities, and deep tech talent around the world. This ecosystem helps us explore new technologies and build solutions for the future. We launched innovation labs in three cities in the US, Australia, and the Middle East, expanding our network, growing our global footprint, and strengthening our role as a trusted innovation partner. We are also partnering with client GCCs to drive transformation and turn their cost centers into high-impact innovation apps. Let me now share two examples of large deal wins that we had leveraging Wipro Intelligence. First, a leading global education provider in the UK which is expanding rapidly across markets, has chosen us as its strategic partner for a multi-year transformation. The goal is to build a single, secure, intelligent operating model that can scale with their growth and improve stakeholder experience. Using Wings, we will standardize core processes, embed automation, and AI-driven insights and optimize costs through a global delivery model. Second, a leading US-based fitness technology company has selected Wipro for a multi-year transformation to accelerate its shift to a subscription-based wellness model and support global expansion. We will use both Wings and Vega to embed AI and automation across IT infrastructure and core functions, driving efficiency, productivity, growth, and better customer experiences. These engagements highlight a clear trend. Clients are bringing us in much earlier and recognizing the step change in the way we deliver and innovate. I would now like to update you on Harman DTS. First, a warm welcome to all Harman DTS employees joining us. With the acquisition now complete, we have added engineering and AI capabilities that truly complement what we do. This strengthens our engineering global business line and helps us accelerate AI-driven product innovation for clients. The integration also opens new regions and high-growth industries and allows us to take on larger, more complex transformation programs. As our teams come together, we look forward to entering new markets, building deeper client relationships and turning innovation into long-term value. Finally, guidance for quarter four. In quarter four, we are projecting sequential IT services revenue growth of 0% to 2.0% in constant currency. With that, I will hand it over to Aparna for the detailed financial. Thank you. Over to you, Aparna.