Mphasis Revenue grew 4.5% QoQ and 17.4% YoY in Q2 FY27

• EPS grew 6% QoQ and 19.2% YoY to ₹ 29.4

Mumbai, 06 November 2026: Mphasis Limited (BSE: 526299; NSE: MPHASIS), a global AI-led, platform-driven technology solutions provider, today announced its financial results for the quarter ended 30^th September 2026.

Quarter ended 30^th September 2026

• Revenue grew 2% QoQ and 9.2% YoY in Q2 FY27 in USD terms and grew 3.3% QoQ and 9.7% YoY in constant currency
• Revenue grew 5% QoQ and 17.4% YoY on a reported basis
• Direct Revenue grew by 4% QoQ and 10.7% YoY in Q2 FY27 in USD terms and grew 3.5% QoQ and 11.3% YoY in constant currency
• New TCV wins of USD 466 Million in Q2 FY27 of which 66% is AI led
• Gross margin for the quarter was 1%, grew 20 bps QoQ and declined 100 bps YoY
• Operating margin for the quarter was 8%, flat QoQ and declined 50 bps YoY
• Net margin for the quarter grew 100 bps QoQ and 20 bps YoY to 2%
• EPS grew 6% QoQ and 19.2% YoY to ₹ 29.4 in Q2 FY27.

“We are building a platform-first thesis, that makes AI adoption at scale real for large enterprises. Our Mphasis Tria^TM led business modernization and business reimagine are emerging as big themes that continue to drive pipeline and wins, unlocking budgets beyond the technology functions, as it widens the set of challenges we can solve for clients. Total pipeline reached a new high, growing 4.4% sequentially and 23% YoY,” said Nitin Rakesh, Chief Executive Officer and Managing Director, Mphasis.

Deal wins:

• A large broker dealer has selected Mphasis as a strategic partner for scaling its advisor administration business, including high touch services to its advisor in the front and middle office The engagement has a recurring, revenue-sharing model with significant potential for expansion across a large advisor ecosystem.
• A leading Tech company has selected Mphasis for a multi-year engagement to deliver specialized enterprise technology services across SAP, Oracle, Azure Monitoring, and Testing & Automation, supporting the client’s modernization journey and ongoing technology operations.
• A large telecommunication major has selected Mphasis for a multi-year managed services engagement to support the modernization and scaling of its digital commerce platform. The engagement leverages AI-enabled engineering and delivery capabilities to improve platform efficiency, accelerate development, and support ongoing innovation.
• A global managed healthcare and health services organization has selected Mphasis for a multi-phase engagement, expanding our role across enrollment & billing, contact center, and back-office The engagement leverages platform-led transformation, agentic AI orchestration, and cloud-based contact center capabilities to establish a differentiated, outcome-based operating model, with potential for further expansion across the client relationship.

Awards and Analyst Positioning:

• Featured in Forrester’s The Forrester Wave™: Infrastructure Outsourcing Services, Q3 2026
• Featured in HFS POV report The headcount era is fading as the pivot to Services-as-Software™ continues
• Featured in HFS POV report AI has made modernization sexy
• Recognised as a Major Contender in Everest Group’s Application Management Services PEAK Matrix® Assessment 2026
• Recognised as a Major Contender in Everest Group’s Microsoft Azure Services PEAK Matrix® Assessment 2026
• Mentioned in Gartner’s Market Overview for Mainframe and Midrange Migration and Modernization Tools
• Mentioned in Gartner’s Tool: Vendor Identification for Cloud ERP, CRM, and HCM Implementation and AMS
• Mentioned in Gartner’s Market Insights — Global Life Insurance Policy Administration Systems
• Recognised as a Major Contender in Everest Group’s Cybersecurity Services PEAK Matrix® Assessment 2026 – Global
• Recognised as a Major Contender in Everest Group’s Quality Engineering (QE) Services for AI Applications and Systems PEAK Matrix® Assessment 2026