Narayana Murthy’s Infosys is currently one of the most valuable IT companies in the country with a market cap of Rs 695000 crore. Infosys is often in the news for its ethics, employee relations and business deals. The IT giant has once again made it the headlines as it has reportedly signed a Rs 2490 crore deal. As per a report by Live Mint citing industry executives, Infosys has signed a Rs 2490 crore contract with Singapore’s Pacific International Lines. The contract with the Singapore company will run till 2027. It is worth noting that although Infosys had disclosed the Pacific International deal to stock exchanges, it has not officially revealed the value and duration of the contract. The report further suggests that Narayana Murthy’s company will help wth IT infrastructure of the shipping company and also support its digital transformation.
Apart from this, Infosys also recently signed a seven-year agreement with Irish food retailer Musgrave. The company will be automating IT functions using AI and cloud solutions. With the two deals, Infosys is welcoming 2024 in a positive note after facing a major blow at the end of last year. For those who are unaware, Infosys announced the termination of around Rs 12450 crore AI deal with global customers in December.
Talking about the quarter that ended December, Infosys reported a total contract value of 3.2 billion dollars in Q3FY24, showing a decline from 7.7 billion dollars in the previous quarter. This also included a net new of 71%.
