• Demand outlook: Client demand was stable from last quarter, with interest in AI adoption, cost optimization and vendor consolidation. Management described the pipeline as healthy and secular across markets.
• Deal bookings: Some Q2 deals missed booking because clients could not complete paperwork, but management expects them to book this quarter. The Q3 pipeline is strong, and management is optimistic about bookings.
• Growth guidance: Q3 guidance of -1.5% to +0.5% reflects furloughs and fewer working days. Management expects the second half to be better than the first, depending on stronger in-quarter execution and deal conversion.
• Healthcare pressure: Healthcare is under pressure in Europe and the Americas due to client-specific issues, policy and spending changes, and softer membership enrollment in the HPS affordable-care business. Management expects the impact to continue for the coming quarters but cited a good pipeline.
• Hiring and acquisitions: Wipro onboarded about 1,000-odd people in the first half and plans to hire a much bigger number in the second half; its target is 7,500 every fiscal, though this fiscal may be slightly lesser. Acquisitions remain part of the strategy if they support consulting-led, AI-powered growth and fit prioritized sectors and markets.