What top IT firms' earnings signal about the future of IT

Companies are no longer spending on tech just to increase volume. Now, the focus is on real value

- By Jatinder Singh | [e-mail]

The latest quarterly results from TCS, Infosys, and HCLTech — three of India's top IT services companies— show more than just their performance.

They reveal how enterprise tech demand is shifting and what CIOs should prepare for. The key message? Companies are no longer spending on tech just to increase volume. Now, the focus is on real value, better efficiency, and accountability.

Enterprise spending is still happening, but companies are being more careful. Infosys increased its FY26 guidance to 3.0% to 3.5% and reported $4.8 billion in major deal wins, showing that decisions are being made but with more caution. TCS grew revenue by 4.87% year over year to Rs. 67,087 crore, highlighting that core IT remains a priority. HCLTech saw 13.3% year-over-year revenue growth to Rs 33,872 crore and $3,006 million in new deals, highlighting that budgets are being allocated to engineering changes, platforms, and longer, measurable commitments.

Demand remains steady, but the rules have changed