TCS reports all-time high order book $13.2 billion in Q4

Among verticals, growth was led by manufacturing, which grew by 9.7 percent YoY in CC in Q4

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26 Aug, 2025 12:21

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India’s largest IT services company Tata Consultancy Services (TCS) on April 12 reported that its deal total contract value (TCV) for the fourth quarter ended March 31 came in at $13.2 billion, an all-time high. This was despite a challenging macroeconomic environment and an ongoing slowdown in discretionary spending.

On a full-year basis, the order book was up at $42.7 billion as compared to $34.1 billion recorded in FY23. This is historically the highest full-year order book for the IT services giant.

This was mainly led by growth in geographies including India which grew at over 37.9 percent YoY in constant currency (CC) terms and UK that grew by 6.2 percent in CC terms.

Among verticals, growth was led by manufacturing, which grew by 9.7 percent YoY in CC in Q4. BFSI, which accounts for nearly 35-40 percent of the company's revenue, continued to see a slowdown, degrowing 3.2 percent YoY in Q4 in CC terms. Even technology & services, communication and media, and consumer business has seen a negative growth.

Core market North America also continues to see pressure, as growth declined by 2.3 percent CC YoY. Continental Europe declined by 2 percent YoY in CC.

TCS won several multi-year multi-million dollar deals in Q4, from Aviva, Ramboll and the Central Bank in the US, to name a few.

While TCS didn’t disclose the deal size yet, according to a report by Mint, the 15-year Aviva deal could be worth $2.5 billion.

N Ganapathy Subramaniam, Chief Operating Officer and Executive Director, said, “Our Q4 performance is robust, with broad based deal wins across industries and geographies. Our products and platforms business sparkled with the mega deal win at Aviva and emerging markets had another stellar growth quarter demonstrating the power of TCS’ diversified portfolio.”

Mega deals for TCS refers to deal sizes of over $500 million.

K Krithivasan, Chief Executive Officer and Managing Director, added, “In an environment of global macro uncertainty, we are staying close to our customers and helping them execute on their core priorities with TCS’ portfolio of offerings, innovation capabilities and thought leadership.”

The company is also benefitting from the revenue coming in from the $1.8-billion BSNL deal, which is getting reflected in the India growth.

TCS reported its earnings for the fourth quarter on April 12. Net profit grew by 9 percent YoY at Rs 12,434 crore. Revenue for the quarter rose 3.5 percent to Rs 61,237 crore in the three months ended March 31.

For the full year of FY24, revenue grew by by 6.8 percent YoY to Rs 240,893 crore. Net profit for the year was at Rs 46,585 crore, growing 10.5 percent YoY. Operating margin for the year was 24.6 percent.