IT services sector focus: Strong deal wins in August hint towards FY25 recovery

While the fiscal first quarter earnings of India IT services sector witnessed broad-recovery across key verticals and geographies, hinting towards a better fiscal growth than the preceding year, BNP Paribas said that the industry continued to see strong deal signings in the month of August. “The 3M rolling sum of deal signings, which is a strong lead indicator of deal TCVs, remained strong in August after seeing a recovery in the recent months,” BNP Paribas said in a report. During the month of August, Accenture and Hewlett Packard Enterprise (HPE) reported the highest deal wins (3 each) and HCL Tech’s deal with Xerox and Tech Mahindra’s with Marshall Group were the highlights of the month.