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Tech Mahindra Adds 5500 Employees in Q2 Marking Highest Growth in Two Years
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CNBC TV18•15-10-2026, 22:22
Tech Mahindra Adds 5500 Employees in Q2 Marking Highest Growth in Two Years
- •Tech Mahindra added nearly 5,500 employees in the September quarter, reaching a total headcount of 1.52 lakh and beating Bloomberg consensus estimates.
- •The increase marks the IT services firm's first quarterly headcount addition in four quarters and its highest in two years, partly driven by employee transfers linked to the Orange deal.
- •Attrition at the company continued to ease, with the last-twelve-month attrition rate dropping to 11.7% in Q2.
- •The company reported net revenue of $1,693 million and an 8.2% sequential rise in net profit to ₹1,586 crore, both exceeding market estimates.
- •Broader IT sector hiring shows signs of recovery as TCS and HCL Technologies also reported workforce expansions alongside Tech Mahindra.
Key Questions Answered
Tech Mahindra added nearly 5,500 employees during the September quarter, marking its first headcount addition in four quarters and the highest increase in two years. Specifically, the workforce stood at 152,206 with a net addition of 5,446 employees.
The management attributed part of the headcount increase to employee transfers in certain geographies linked to the large Orange deal. Furthermore, consolidated revenue grew 15.6 percent year-on-year to Rs. 16,180 crores, supported by net new deal wins of $1.02 billion.
Tech Mahindra's last-twelve-month attrition rate dropped to 11.7% in Q2 FY27, down from 12.8% a year earlier. Meanwhile, net profit rose 32 percent year-on-year to Rs 1,586 crore for the quarter ended September 30, 2026.
