Significant Partnership Deal
Wipro Infotech has secured a substantial ten-year project worth Rs. 1.3 billion from the Lodha Group. This collaboration will see Wipro providing comprehensive IT and business transformation services to the Lodha Group across India and the Middle East. As one of India's premier IT companies, Wipro Infotech brings a wealth of expertise to this venture.
Lodha Group’s Expansion
The Lodha Group, a prominent real estate player in Mumbai, boasts a land bank of 6,000 acres. The group is actively developing a diverse range of projects in and around Mumbai, focusing on offices, campuses, SEZs, and townships. They are also exploring expansion into the southern and western markets.
Announcement and Reactions
The partnership was officially announced by Abhishek Lodha, Director of Lodha Group, who expressed enthusiasm about collaborating with Wipro Infotech, one of India’s leading IT service providers. Anand Sankaran, Chief Executive of Wipro Infotech, shared hopes for the successful completion of the project, stating that the company is committed to delivering top-notch IT services to help the Lodha Group become a leader in the real estate business.
Market Impact
Following the announcement, shares of Wipro experienced a slight decline, dropping by Rs. 3.55, or 0.87%, as per data from the BSE.