Tech Mahindra Sets FY25-FY27 Strategy with 'Project Helix' Roadmap

Tech Mahindra has set its sights on AI-driven growth and margin expansion with its new three-year strategy, "Project Helix," spanning FY25 to FY27. Announced at Analyst Day 2026, the plan aims to stabilize the business, boost profitability, and leverage artificial intelligence for proactive service delivery. The company reported significant momentum with $3.8 billion in large deal wins over the last 12 months (LTM) and an Earnings Before Interest and Taxes (EBIT) margin of 13.8% exiting FY26.

What Happened

Tech Mahindra detailed its strategic roadmap and future outlook on April 22, 2026, during its Analyst Day event. The core of the presentation was "Project Helix," a three-year plan for FY25-FY27 designed to drive stabilization, margin expansion, and AI-led growth. Key financial indicators highlighted included $3.8 billion in LTM large deal wins and $616 million in free cash flow, which represented 115% of profit after tax (PAT).

Why It Matters

This strategic shift signals an AI-first approach aimed at enhancing the company's capabilities and client relationships. Tech Mahindra is transitioning to a new 'AI-led stack' to enable proactive service delivery and improve overall user experience.

The Background

Tech Mahindra has a history of focusing on digital transformation and AI integration. In April 2024, the company launched 'Vision 2027,' a three-year plan targeting revenue growth above its peers by FY27, with FY25 designated as a turnaround year. Current performance suggests progress in improving margins and stabilizing operations after earlier challenges.

Key Changes

"Project Helix" will drive structured productivity and margin discipline. The company is transitioning to proactive service delivery through AI-driven operations and adopting a new 'AI-led stack' that includes AI experience and intelligence layers. Financial goals target stabilization in FY26, followed by accelerated revenue and margin growth by FY27. In terms of talent, 84% of client-facing staff are now AI-ready, and 76% of the overall workforce is AI certified.

Potential Risks

Tech Mahindra faces potential headwinds from macroeconomic volatility, which could impact client spending and project pipelines. Evolving cybersecurity threats also represent a risk in the current market landscape. Additionally, shifts in regulatory policies, such as H-1B visa rules, could affect market dynamics in FY27.

Peer Comparison

Tech Mahindra competes with major IT firms including TCS, Infosys, Wipro, and HCLTech. These competitors are also actively investing in AI and digital transformation initiatives.

Key Financial Metrics

At the FY26 exit, revenue showed year-over-year growth of 2.4% in constant currency. The EBIT margin was reported at 13.8%. Furthermore, approximately 95% of 'Turbocharge' clients have integrated GenAI or AI capabilities.

What to Watch Next

Investors will monitor the execution progress of "Project Helix" and its three-year roadmap (FY25-FY27). Key areas to watch include scaling within high-growth segments like Engineering, Cloud, Data & AI, and Consulting. The company's ability to deepen client relationships and expand wallet share will also be crucial. Continued momentum in large-deal wins and expansion in nearshore and GCC markets will be important indicators.