Wipro’s growth strategy: Growth in key markets, winning large deals, and strategic acquisitions.

Bengaluru-based Wipro, which has transformed after CEO Thierry Delaporte has taken over charge, has a growth strategy focused on winning large deals by expanding its market share of the 200 and 300 million USD accounts. 

Thierry Delaporte, Chief Executive Officer and MD of Wipro addressing the annual investors meeting, said, “New Wipro would outpace market growth by being more connected, agile proactive, and problem-solving for its clients.”

Wipro’s annual revenue rate had surpassed 10 billion USD, said Delaporte, and out of that run rate, it added 2.4 billion USD just last year.

Delaporte said the company’s recent growth was possible by prioritizing key markets and doubling down on investments. 

  • 4 out of 7 sectors in the US grew by five percent Compounded Quarterly Growth Rate across last four quarters.
  • Four out of eight European countries, such as Germany, Switzerland, and Benelux, have grown significantly faster and organically over the past four quarters. 
  • APAC, Middle-East, and Africa, which were underperforming markets for Wipro in the past, have started showing positive growth again.

Wipro’s growth strategy – 

Delaporte said that the company’s spurt of growth over the last year was possible as it focused on relationships with strategic clients, proactively winning more significant transformation deals, and continuing inorganic development with strategic acquisitions and mergers. 

The top 10 clients of Wipro grew at 33 percent year-on-year ahead of its growth. Additionally, Wipro added four more 100 million USD accounts, and 50 million USD accounts have increased from 39 to 54. Also, 80 percent of 30 million USD plus deals were in strategic accounts. 

Highlighting strategic partnerships, Wipro has with hyper-scalers like Amazon Web Service, Microsoft, Salesforce, SAP, Google, ServiceNow, Delaporte said the company was co-investing, co-innovating, and co-creating with them in areas like Cloud, AI, ML, industry-specific digital solutions, and cloud-native architecture.

Delaporte further added that the Total Contract Value (TCV) of large deals had grown by 80 percent in the last year. 

Talking about the M&A deals, he said the focus would be on the cloud, cybersecurity, engineering in priority sectors, and specific geographies.