Tech Mahindra CEO targets another profitability boost

Nudges senior leaders to close in on 15% margin goal by March, renew deals at higher rates

- Jas Bardia

Tech Mahindra's chief executive officer Mohit Joshi.

Tech Mahindra Ltd’s chief executive Mohit Joshi seeks to close in on the profitability goal this fiscal, accelerating the turnaround at India’s fifth-largest software services provider to shore up revenue.

Addressing at least 300 company executives in a virtual townhall in the last week of December, Joshi nudged the senior leaders to get closer to the 15% operating margin by March this year, according to two people privy to the development.

London-based Joshi, who took over the top job two years ago, is also pushing teams to accelerate AI training for employees, win more deals at higher rates, and reduce the time staff spend away from projects, said the people quoted earlier-they asked not to be identified as details are not public.

Tech Mahindra CEO’s push to win more revenue comes as the company lags its large information technology (IT) services peers in growth. The Pune-based company is nearing the final phase of Project Fortius, a three-year turnaround roadmap unveiled in April 2024. It aimed at increasing its operating margin to 15% by March 2027, outpacing the country’s six largest IT services companies, and focusing on organic growth.