LTIMindtree bags $330 million contract from central tax department to upgrade tax analytics platform with AI

LTIMindtree Ltd was awarded a contract worth ₹By bagging Rs 3,000 crore ($332 million) from the Central Board of Direct Taxes (CBDT), this is the IT services company’s third largest order in the last 12 months.

The contract aims to create an AI-powered program for the modernization of India’s national tax analysis platform, LTIMindtree said in a stock exchange filing on Friday.

“Approximately valued ₹“This seven-year mandate of ₹3,000 crore strengthens LTIMindtree’s leadership in driving digital transformation by leveraging advanced digital architecture and data analytics to deliver real-time insights to policymakers,” he said.

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That works out to at least $47 million, or 1% incrementally, each year for the nation’s sixth-largest IT services company. LTIMindtree closed last fiscal year with revenue of $4.93 billion, up 4.8%.

This is LTIMindtree’s second interaction with the central tax body in less than a year. On August 7, CBDT issued an award. ₹LTIMindtree has been authorized 792 crore ($87 million) to transform India’s PAN (Permanent Account Number) infrastructure. Under the terms of the agreement, LTIMindtree will design, build and operate the tax agency’s backend IT, including infrastructure, security, automation and ongoing operations.

The deal comes as a blow to CEO Venu Lambu, who took over in June 2025, giving the company its second big-ticket deal in less than a year.

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On October 6, the company announced its largest deal: a $585 million IT modernization contract over a six-year period with New York-based media company Paramount Global. At least three-fifths of this deal, or about $350 million, is new business for the company and represents an incremental 1.3%.

The Paramount deal surpasses LTIMindtree’s seven-year, $450 million IT modernization contract with ADM announced May 12. This deal means 1.4% growth for the Mumbai-based company.

incremental growth

LTIMindtree, which does not share full-year or quarterly revenue guidance, is now expected to grow gradually up to 3.3% from just three deals.

The company’s shares increased by 4.89 percent ₹6,325 as of 14:35 on Friday.

According to executive information on the development, CEO Venu Lambu is likely to comment on this deal when the company reports its third-quarter earnings on January 19. LTIMindtree does not specifically share revenue from India, which is in the rest of the world category and accounts for just over a tenth of the business.

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This deal comes as Indian IT outsourcing providers are turning inward to generate more revenue. A week ago, HCLTech appointed Sandeep Saxena as chief growth officer to “sharpen its focus specifically on the India region”.

Tata Consultancy Services Ltd received a $1.83 billion 4G network deployment contract from state-run Bharat Sanchar Nigam Ltd in August 2023, making it one of the largest deals awarded to an IT outsourcing provider by an Indian government body.

For LTIMindtree, which was formed after parent company Larsen & Toubro merged L&T Infotech with Mindtree in 2019, the deal comes as demand recovery for IT services has slowed due to macroeconomic uncertainty, tax wars in top markets and the disruptive nature of artificial intelligence. Large deals could potentially offset the revenue decline caused by these three factors.