Indian IT firm Mphasis counts on banks to power revenue growth, CEO says

BENGALURU, Nov 6 (Reuters) – Blackstone-backed Indian IT services firm Mphasis expects its key financial segment to drive sales in the six months through March end, its CEO said, with revenue projected to grow at more than twice the industry’s pace.

Revenue growth for India’s $283-billion IT sector has been muted over the past two years as clients tightened budgets amid macroeconomic uncertainty and U.S. tariff and immigration policy headwinds. That is now starting to change, especially in financial services, where firms are warming up to AI-led projects to boost efficiency and cut costs.