Wipro to Keep Buying AI and Consulting Capabilities With $4.6 Billion in Cash

Wipro Ltd. holds $4.6 billion, or Rs 43,580 crore, in gross cash and will keep pursuing acquisitions that strengthen its consulting-led, AI-powered strategy, CEO and Managing Director Srini Pallia said on the company's Q2FY27 earnings call on October 15. NDTV Profit reported the comments. Wipro is a publicly traded global IT services and consulting company with more than 230,000 employees and business partners across 65 countries.

Pallia's Criteria for Wipro's Next Deal

Pallia told analysts that Wipro looks for opportunities that enhance its strategy within its priority sectors and markets. "As far as inorganic play is concerned, we look for opportunities which can enhance our strategy, which is consulting-led and AI-powered within the sectors priority sectors and the markets that we go after," he said. He cited two past acquisitions as examples of that approach. The acquisition of Harman DTS added capabilities in design-to-manufacturing and connected services, while Mindsprint brought expertise in food and agriculture, supply chains and farm-to-fork processes. Harman's automotive unit has separately expanded its software reach, joining the SDVerse B2B software marketplace in September 2026 to offer products including Ready Link Marketplace and Ready CQuence Loop to automakers, Financial Post reported. Mindsprint was acquired in connection with Wipro's large deal with Olam, a food and agri-business group. CFO Aparna Iyer said the business was acquired in the context of that contract because its capabilities could also create value beyond the immediate engagement. Pallia said Wipro will continue looking for opportunities that enhance its value.

Wipro's AI Investments and Cash Position

Wipro's AI-native unit has more than 2,000 engineers, including forward-deployed engineers, and the company is expanding AI services across five areas: AI data centres, AI foundry services, physical AI, AI devices and design-to-manufacturing, according to akta.pro company records. The same records list Wipro's FY26 gross revenue at Rs 926.2 billion, or $9.9 billion, up 4.0% year on year, and IT services segment revenue at $10,478.1 million, a decrease of 0.3% year on year. Wipro has not disclosed a specific acquisition budget, target size or timeline for a major deal.

Wipro's Run-Up to the Q2 Call

Wipro's Q2 FY27 results arrived on October 15, part of a busy earnings day that also featured Tech Mahindra, Polycab and Nestlé India, CNBC TV18 reported. Ahead of the results, analysts expected Wipro's IT services revenue to decline sequentially, with most forecasts between 0.5% and 1.4% in constant currency, and margins to improve by 25-50 basis points, The Times of India reported on October 13. The same preview said Q3 guidance was expected to be weak due to seasonality and furloughs.

What Wipro Has Said Comes Next

Pallia reaffirmed that Wipro's growth strategy would remain both organic and inorganic. The company has not disclosed a specific acquisition budget, target size or timeline for a major deal.