1. FY26 TCV - $38-39 billion full-year order book Delivered - At the Q3 FY26 call, CEO Krithivasan said the order book for the first three quarters was \~US$28-29 billion and "if this trend continues, we will be somewhere closer to about US$38-39 billion" for the year. FY26 TCV came in at $40.7 billion including 5 mega deals, exceeding the $38-39 billion projection.
2. FY27 margin - exit at 25%+ operating margin Pending - At the Q1 FY27 call, CFO Samir Seksaria said TCS wants to exit the year at 25%+ operating margin and "strive to achieve it sooner rather than later," with margins inching up through the quarters after the Q1 wage-hike headwind. Q1 FY27 operating margin was 24.0%, down 130 bps sequentially due to wage hikes; no subsequent quarters are reported yet.
3. Enterprise Agile - by 2020 Delivered - The company had committed to become Enterprise Agile by 2020. By FY20 it had trained over 417,000 employees on Agile, created a 417,000-strong Agile-ready workforce and 1000+ Agile Delivery Centres, substantially meeting the commitment by the deadline.
4. Capital return - 80-100% of net profit or free cash flow Delivered - At the Q3 FY23 call, management reiterated the capital-return benchmark of 80% to 100% of net profit or free cash flow trajectory, reiterated at Q2 FY26, Q3 FY26 and Q1 FY27. FY26 shareholder payout was ₹39,799 crore, 80.9% of profits, following FY24's ₹47,445 crore, the largest to date, keeping payouts within or above the range.
5. Workforce restructuring - mid/senior-level release of \~2% Delivered - At the Q2 FY26 call, management estimated the mid/senior-level workforce release at approximately 2%, then at 1% and not chasing a target; by Q3 FY26 the exercise was to continue till end of the year. 1% was released in Q2 FY26 with ₹1,135 crore severance provided, and Krithivasan confirmed the restructuring program was completed by Q4 FY26.
6. Pan-India footprint expansion - 50,000 seats in 2-3 years Pending - At the Q2 FY26 call, CFO Samir Seksaria committed to expanding the pan-India footprint in Tier-1 and Tier-2 cities by about 50,000 seats in the next 2 to 3 years. No seat-addition figure has been disclosed through Q1 FY27; headcount moved from 593,314 in Q2 FY26 to 593,798 in Q1 FY27.
7. Sovereign AI datacenter - 1 GW capacity in 5-7 years On track - At the Q2 FY26 call, the Board approved a TCS subsidiary to build a Sovereign AI datacenter with capacity up to 1 Giga Watt over five to seven years in phases, roughly $1 billion capex per 150 MW, with first revenue in about 18 to 24 months. By Q4 FY26, HyperVault had made significant progress toward 1 GW including customer commitments, land finalizations and partnering agreements; no revenue yet.
8. BSNL 4G/5G rollout - 100,000 sites in \~18 months Delivered - At the Q2 FY24 call, management said the BSNL 4G/5G rollout covering 100,000 telecom sites would be completed in stages over the next 18 months. Progress reached \~10,000 towers by Q4 FY24, the halfway mark by Q2 FY25 and 70% by Q3 FY25, with management confirming successful completion of the program in Q4 FY25.
9. Gen AI workforce - 100,000 trained associates Delivered - At the Q1 FY24 call, CEO Krithivasan committed to train over 100,000 associates in Gen AI. Over 100,000 Gen AI-ready employees were reported by Q2 FY24, and the base grew to 217,000+ by Q3 FY26 and over 270,000 with advanced AI/ML proficiencies by Q4 FY26.
10. Attrition normalization - back to normal range in H2 FY24 Delivered - At the Q1 FY24 call, CHRO Milind Lakkad said LTM attrition would be back in the normal longer-term range in the second half of the year, echoed by CEO Krithivasan. LTM attrition fell from 17.8% in Q1 FY24 to 14.9% in Q2 FY24, 13.3% in Q3 FY24 and 12.5% in Q4 FY24, within the stated 11-13% comfort range.
11. Fresher hiring - \~40,000 target for FY23 Delivered - At the Q4 FY22 call, COO N.G. Subramaniam said TCS planned to start with about 40,000 freshers as the FY23 hiring target, reaffirmed at Q1 FY23. 35,000 freshers were onboarded in H1 FY23, 42,000 by Q3 FY23 and over 44,000 during FY23, exceeding the target.
12. Operating margin - 26-28% aspirational band, long-term Partial - At the Q4 FY22 call, CFO Samir Seksaria reiterated the 26% to 28% operating margin band as the "guiding base", later a "guiding beacon" at Q3 FY24, Q2 FY25, Q2 FY26 and in the FY24 annual report. Full-year margins ran 25.3% in FY22, 24.1% in FY23, 24.6% in FY24, 24.3% in FY25 and 25.0% in FY26, the highest in four years; Q4 FY24 quarterly margin hit 26.0%.