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Mid tier IT firms surge while Infosys Wipro stumble as cloud and AI work bypass giants
Economy
Published on 15 May 2026
Some giants saw declines while mid tiers grew 7 to 28%
Mid-tier IT services firms are outpacing larger rivals, posting 7–28% year-on-year revenue growth in constant currency in the March quarter. Coforge, Persistent Systems, Mphasis and LTM gained as they stayed focused on specific growth pockets like cloud engineering, AI-led modernization and BFSI. Meanwhile Infosys and HCLTech lagged, and TCS and Wipro reported declines. Analysts credit leaner structures, senior talent closer to clients, outcome-based pricing and greater flexibility—though some growth may come with short-term margin tradeoffs.
- Mid-tier IT firms delivered 7–28% March quarter revenue growth
- Infosys and HCLTech grew only 0.6% to 3.9% in constant currency
- TCS fell 2.4% and Wipro fell 1.6% in the same quarter
- Coforge grew over 50% YoY in travel despite West Asia conflict
- Persistent Systems’ BFSI revenue grew about 25% YoY
- Mid-tier headcount shifts included Coforge plus 436 and Persistent plus 791
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times