Tech Mahindra
Indian multinational technology company
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Tech Mahindra is an Indian multinational information technology services and consulting company. It was formed in 1986 as a joint venture between Mahindra & Mahindra and BT Group. Part of the Mahindra Group, the company is headquartered in Pune and has its registered office in Mumbai.[6]
- BSE: 532755
- NSE: TECHM
- BSE SENSEX constituent
- NSE NIFTY 50 constituent
 | |
| Formerly | Mahindra British Telecom (1986–2006) |
|---|---|
| Type | Public |
| |
| ISIN | INE669C01036 |
| Industry | Information technology Consulting Outsourcing |
| Founded | 24 October 1986 |
| Founder | Anand Mahindra |
| Headquarters | Pune, Maharashtra, India |
Area served | Worldwide |
Key people |
|
| Revenue |  ₹56,847 crore (US$5.9 billion) (2026) |
| ₹6,845 crore (US$710 million) (2026) | |
| ₹4,805 crore (US$500 million) (2026) | |
| Total assets | ₹49,369 crore (US$5.1 billion) (2026) |
| Total equity | ₹30,077 crore (US$3.1 billion) (2026) |
Number of employees | 148,731 (March 2025)[4] |
| Parent | Mahindra Group |
| Website | www |
| Footnotes Financials as of 31 March 2026[update].[5] | |
History
In 1986, Mahindra & Mahindra started a 60:40 joint venture technology services outsourcing firm with British Telecom named Mahindra British Telecom (MBT). In 2000, British Telecom committed business of at least £105 million over three years; as a consideration, British Telecom's stake in MBT increased to 43%.[7] MBT primarily served the telecommunications industry in its early years, with British Telecom as its largest client.[8]
In 2006, MBT was renamed as Tech Mahindra,[9] and it became a publicly-listed company via an initial public offering.[10] In December 2010, British Telecom sold 5.5% of its stake in Tech Mahindra to Mahindra & Mahindra for ₹451 crore.[11] In August 2012, British Telecom sold 14.1% of its stake to institutional investors for about ₹1,395 crore. In December 2012, British Telecom sold its remaining 9.1% stake to institutional investors for ₹1,011.4 crore. This sale marked the exit of British Telecom from Tech Mahindra.[12]
Acquisition and merger of Satyam
In the aftermath of the Satyam scandal, Tech Mahindra emerged as the top bidder for a 31% controlling stake in Satyam Computer Services, beating a bid from Larsen & Toubro, in April 2009.[13][14] After the completion of the acquisition, Satyam Computer Services was renamed Mahindra Satyam in June 2009.[15] Tech Mahindra's stake in Satyam increased to 42% through a preferential share allotment in July 2009.[16]
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In 2010, Mahindra Satyam and Morpho were awarded a contract by UIDAI to implement the biometric identification system for the Aadhaar programme.[17] Mahindra Satyam, along with Tech Mahindra, was the official IT services provider for the 2010 and 2014 FIFA World Cups.[18][19]
Tech Mahindra announced its merger with Mahindra Satyam on 21 March 2012, after getting approval of the two company boards.[20] The new organization would be led by Anand Mahindra as Chairman, Vineet Nayyar as Vice Chairman, and C. P. Gurnani as the CEO and Managing Director.[21][22] On 25 June 2013, Tech Mahindra completed the merger to become India's fifth largest software services company with a turnover of $2.7 billion.[23][24][25] The merger diversified Tech Mahindra's revenue mix, with the telecommunication vertical's share declining from over 90% in 2009[26] to 47% in 2013.[27][28]
Later years
In 2013, Mahindra Group company Mahindra Engineering Services (MES) merged with Tech Mahindra.[29]
In 2015, Tech Mahindra and Mahindra & Mahindra (M&M) jointly purchased a controlling stake in Pininfarina S.p.A., an Italian automotive and industrial design company.[30] By March 2016, Tech Mahindra's post-tax earnings had surpassed that of M&M.[31]
Tech Mahindra was ranked 5th among India's IT firms and overall 47th on the Fortune India 500 list for 2019.[32]
Since 2023, Tech Mahindra and FIDE have organized the Global Chess League, an over-the-board rapid chess league.[33][34]
In 2025, Tech Mahindra was one of the eight entities selected by the IndiaAI Mission to develop a sovereign foundation LLM.[35]
Acquisitions
Notable acquisitions by Tech Mahindra include:
| Year | Company | Country | Industry | Acquisition cost |
|---|---|---|---|---|
| 2005 | Axes Technologies[36] | United States | Telecom engineering | $54 million |
| 2007 | iPolicy Networks[37] | United States | Network security | Undisclosed |
| 2009-13 | Satyam Computer Services[38] | India | IT services | $600 million |
| 2012 | Hutchinson Global Services[39] | United States | Business process outsourcing | $87 million |
| 2012 | Comviva[40] | India | Telecom VAS | $48 million |
| 2014 | Lightbridge Communications Corporation (LCC)[41] | United States | Telecom network services | $240 million |
| 2015 | SOFGEN Holdings[42] | Switzerland | Banking technology consulting | Undisclosed |
| 2015 | Pininfarina[43] | Italy | Automotive design engineering | €168 million |
| 2016 | Target Group[44] | United Kingdom | Business process outsourcing | £120 million |
| 2016 | The Bio Agency[45] | United Kingdom | Digital consulting | £45 million |
| 2017 | HCI Group (CJS Solutions Group)[46] | United States | Healthcare technology | $89.5 million |
| 2019 | Mad*Pow [47] | United States | Design strategy agency | unknown |
| 2019 | BORN Group[48] | United States | Content agency | $90 million |
| 2020 | Zen3 Infosolutions[49] | United States | Enterprise software | $64 million |
| 2020 | Cerium Systems[50] | India | IC and embedded software | $32.1 million |
| 2020 | Tenzing Group[51] | New Zealand | Management consulting | $29.5 million |
| 2021 | Perigord[52] | Ireland | Digital services | €21 million |
| 2021 | DigitalOnUs[53] | United States | Cloud and DevOps services | $120 million |
| 2021 | Eventus Solutions Group[54] | United States | CX consulting | $44 million |
| 2021 | Brainscale[55] | United States | Cloud consulting | $28.8 million |
| 2021 | Lodestone (Infostar)[56] | United States | Product engineering | $105 million |
| 2021 | Activus Connect[57] | United States | CX technology | $62 million |
| 2021 | Allyis Group[58] | United States | IT consulting | $125 million |
| 2022 | Com Tec Co (CTC)[59] | Cyprus | IT consulting | €310 million |
| 2022 | Thirdware[60] | India | Enterprise software | $42 million |
Operations
For the year ended March 2025, the company derived 85.9% of its revenue from IT consulting, software application development and maintenance services, and the remaining 14.1% from business process services and outsourcing.[61]
Financials
| Year | Revenue (In crores) | Profits/Loss (In crores) | Ref. |
|---|---|---|---|
| 2021 | 37,885 | 4,351 | [62] |
| 2022 | 44,646 |
5,627 | |
| 2023 | 53,290 |
 4,886 | |
| 2024 | 51,995 |
2,386 | |
| 2025 | 52,988 |
4,244 |
