TCS closes FY26 with Improving Sequential Growth Momentum and Strong Deal Wins.

• 4QFY26 Revenue $7,621 Mn, Growth +1.5% QoQ; +1.2% QoQ in CC
• FY 26 Revenue $30,017 Mn, Growth -0.5% YoY, -2.4% in CC
• Annualized AI Revenue crosses US$ 2.3 billion in Q4FY26
• FY26 Operating Margin* at 25%; up 70 basis points YoY – highest operating margin in last 4 years
• FY26 Net Margin* at 19.8%; up 80 basis points YoY – highest net margin in last 4 years
• Strong TCV performance at $40.7 billion for FY26 and at $12 billion for Q4, among the highest TCV ever; with 3 mega deals for the quarter and 5 mega deals for the year
• Healthy client addition across revenue bands:
  • $100M+ up by 2 YoY, number of clients increased to 66;
  • $50M+ up by 9 YoY, number of clients increased to 139;
  • $1M+ up by 65 YoY, number of clients increased to 1,397

MUMBAI, April 9, 2026: Tata Consultancy Services (BSE: 532540, NSE: TCS) reported its consolidated financial results according to Ind AS and IFRS, for the quarter and full year ending March 31, 2026.

*Excludes one-offs

K Krithivasan, Chief Executive Officer and Managing Director, said “We are pleased to report the third consecutive quarter of sequential growth, supported by three mega deals and a $12 billion TCV, underscoring the strength of our five pillar strategy and our AI led positioning across services. It is equally encouraging that this momentum was broad based across major markets and most industries. While the macro-economic headwinds continue, we see sustained customer conviction in technology investments, which positions us well for the opportunities ahead.”

Aarthi Subramanian, Executive Director – President and Chief Operating Officer, said “FY26 marked a pivotal year for enterprise AI adoption. In Q4, our annualized AI revenues surpassed $2.3 billion, driven by the accelerated deployment of AI solutions. We experienced strong deal momentum across new services in Enterprise Transformation, Digital Engineering, and Cloud Modernization. Our investment in HyperVault was a catalyst in forging strategic partnerships with OpenAI, AMD and ABB, further strengthening our positioning across Infrastructure-to-Intelligence.”

Samir Seksaria, Chief Financial Officer, said, “In FY26, we intensified investments through our Build–Partner–Acquire approach, by acquiring Coastal Cloud & List Engage and establishing HyperVault. Even as we scaled our investments in AI‑led growth opportunities, our margins expanded by 70 basis points, reflecting our strong operational rigor. Our solid cash flow and resilient balance sheet position us to advance strategic priorities, pursue timely investments, and maximize growth.”

Sudeep Kunnumal, Chief HR Officer, said “We are pleased to implement annual salary increases across all grades effective 1st April. In Q4, we continued to invest in a future‑ready workforce with strong additions across experienced talent and campus hires. Building an AI‑first culture and equipping our people with AI‑ready skills remained a key priority in FY26 and will continue into FY27, as we align closely with our customers’ evolving needs.”

Q4 and Full Year Segment Highlights

Growth by Domain

Growth by Markets

Key Highlights for the quarter

• Entered a strategic collaboration with AMD, a leader in high‑performance and AI computing, on the co‑development of industry‑specific AI and GenAI solutions by combining TCS’ deep domain expertise, systems integration capabilities and global innovation ecosystem with AMD’s high‑performance computing and AI product portfolio. Together, the companies will help enterprises modernize hybrid cloud and edge environments, deploy AI‑powered workplace solutions, and accelerate innovation across cloud‑to‑edge workloads.
  Expanding the collaboration, TCS HyperVault and AMD will co‑develop a rack‑scale AI infrastructure design based on the AMD “Helios” platform and both companies will offer an AI‑ready data center blueprint supporting up to 200 MW of capacity and will work with hyperscalers and AI companies to accelerate data center build‑outs in India to support sovereign AI initiatives.
• Announced a multi-dimensional strategic partnership with OpenAI, that spans multiple high-impact areas, including powering AI-led innovation across Tata Group companies, joint efforts to drive AI transformation across industries globally, setting up AI infrastructure and social impact.
  TCS’ HyperVault and OpenAI have agreed to a multi-year partnership to develop AI infrastructure in India, with 100MW capacity in the initial phase, and an option to scale to 1 GW. This infrastructure will power next-generation AI workloads and position India as a global AI hub.
• Signed a Memorandum of Understanding (MoU) with ABB to strengthen the two companies’ strategic collaboration across IT infrastructure and applications, digital and industrial AI initiatives, data centres, and other emerging technologies.
• TCS and Honeywell announced a strategic partnership to help building operators move from traditional automation to enterprise-wide autonomy. By combining TCS’ IT modernization, cloud, and consulting capabilities with Honeywell’s expertise in operational technology and AI-driven analytics, the collaboration aims to deliver real-time intelligence and improved operational efficiency.
• Signed a multi-year partnership with ServiceNow for developing trusted, AI‑powered solutions on the ServiceNow platform to reimagine back‑office functions such as HR, finance, supply chain, procurement, and employee services. These solutions will enhance workflow efficiency, governance, and insight‑driven decision‑making, and will be delivered through TCS’ AI‑led global business solutions portfolio.
• Introduced Rapid Outcome AI platform built on NVIDIA to help organizations accelerate their journey from AI experimentation to scalable, real-world business outcomes. By leveraging predictive analytics, generative AI, computer vision, and agentic and Physical AI blueprints tailored for industry-specific processes, TCS and NVIDIA will help enterprises achieve higher levels of autonomy across their enterprise workflows.
• Entered into a strategic alliance with Cisco to launch a Center of Excellence (CoE) in Hyderabad for Autonomous Enterprise Operations, to help enterprises move from rule‑based automation to intelligent, self‑governing operations that understand the context in real‑time and take actions on their own. By enabling Zero‑touch operations, the CoE will help organisations reduce complexities in operation and deliver exponential business outcomes by eliminating friction in their existing IT environment.
• Established a collaboration with GitLab Inc., the intelligent orchestration platform for DevSecOps, to combine TCS’ expertise in AI-led enterprise transformation capabilities with GitLab’s pre-built AI agents and intelligent orchestration for software development. Together, TCS and GitLab will enable customers to accelerate software delivery, enhance security, and orchestrate AI agents across the entire software development lifecycle (SDLC) within their organization’s full context, standards, and guardrails.
• Announced the launch of TCS Workspace Experience Studio engineered with Zscaler Digital Experience^TM (ZDX^TM), which will help TCS to redefine enterprise digital workspaces for customers by integrating Zero Trust security, observability, and AI-powered experience analytics, delivering a truly seamless, resilient, and proactive digital environment for their workforce.
• Launched seventh Gemini Experience Center (GEC) at TCS Innovation Hub in Troy, Michigan, in partnership with Google Cloud, to enable global manufacturers to co-innovate and scale AI-led solutions for smarter, resilient operations.
• TCS has announced a significant expansion of its long-standing partnership with leading UK based telecom operator. This five-year contract will see TCS lead the operator’s comprehensive IT transformation journey for its consumer business, leveraging advanced AI, Cloud, and Digital Engineering capabilities. The expansion, built on years of trusted partnership and demonstrated delivery, will see TCS take end-to-end responsibility for running the entire IT systems of the operator’s consumer base and become its strategic technology partner, consolidating entire landscape previously spread across multiple service providers.
• TCS & Marks & Spencer (M&S) have renewed their multi‑year strategic partnership. This continuing engagement builds on the more than a decade-long trusted partnership between the two organisations and will see TCS continue to serve as M&S’s strategic technology partner as the retailer embeds its technology transformation. As part of this continuing partnership, TCS will support M&S as it transforms to become an omnichannel, data‑driven retailer supported by globally best-in-class modern technologies. TCS will utilise AI in its transformation approach—supported by its extensive domain expertise and one of the world’s largest AI talent pools. This will support future-readiness, provide the right base for long‑term growth, and create superior customer experience.
• TCS has entered into a five‑year, multi‑million‑dollar strategic partnership with a leading U.S.-based retail and pharmacy chain to drive large‑scale, enterprise‑wide transformation. The engagement focuses on modernizing core technology platforms, strengthening retail and pharmacy business, improve operational resilience, and advancing digital, data, and AI‑led capabilities. The partnership also establishes Global Capability Centers as a strategic foundation to enable long‑term transformation, intellectual property creation, and sustained value realization for the customer.
• A leading UK Financial Services organisation has renewed its strategic partnership with TCS for an additional five years, extending a relationship of more than 15 years. The renewed engagement aligns with the organisation’s focus on operational resilience, seamless integration, and the responsible adoption of AI and digital capabilities while continuing to provide industry-leading service to its customers. As a strategic partner, TCS will continue to support transformation across the client’s Retail and SME Banking businesses, leveraging AI‑enabled automation, analytics, and digital engineering to deliver a secure, resilient, and scalable technology environment. The renewal reinforces TCS’ role as a trusted long‑term transformation partner with deep BFSI expertise.
• A Selected by a leading bank in Philippines as a strategic partner for a large‑scale IT infrastructure and operations transformation. As part of this multiyear engagement, TCS will deliver end‑to-end infrastructure managed services spanning Service Integration and Management (SIAM), cloud enablement and operations, data center and network services, end user computing, platform services (mainframe and open systems), service resiliency, and security operations. The engagement will bring together TCS’ deep BFSI domain expertise, SIAM led operating model, cloud-first architecture, and AI-driven resilience and security capabilities to run mission critical banking platforms at scale.
• Partnered with Flight Centre Travel Group (FCTG) to support its global digital transformation journey, and future proof their cloud and network services, strengthen resilience, and modernise services platforms across its operations.
• Extended and expanded its decade‑long partnership with Swissport International, a global leader in aviation services, by five years. The renewed agreement brings a fresh focus on digital innovation, enhancing operational excellence and driving technological transformation across Swissport’s global operations. TCS will help drive the continued modernisation of Swissport’s technology landscape and scale AI enabled services, data platforms, and hybrid cloud operations. The partnership will help the company adapt and stay ahead in a fast-changing aviation landscape. TCS will harness the power of AI to strengthen IT service operations, enhance operational resilience, ensure consistent delivery of services, and elevate employee experience across mission-critical ground operations.