TCS receives $1.83 billion BSNL contract for 4G services

By ReutersA consortium led by India’s Tata Consultancy Services (TCS) received an order of more than 150 billion rupees ($1.83 billion) from state-run Bharat Sanchar Nigam Ltd (BSNL) to deploy a 4G network across the country, the company said on Monday.

The order comes as India’s IT services companies grapple with demand uncertainty.

TCS, India’s top IT services provider, has been contending with pressure in its “large deals” segment, comprising projects of $1 billion or more, as clients in major markets of the U.S. and Europe delayed decision-making in the face of a slowing macroeconomic environment.

The company, which had reported weaker-than-expected fourth-quarter results, had said its order book stood at $10 billion.

It also flagged that deal wins could contract to $7 billion to $9 billion for the current quarter.

Its contract for running the country’s Passport Seva Programme was renewed last year in a deal worth 80 billion rupees.