Tech Mahindra CEO Mohit Joshi Marks Three Years With Growth Push and a 2027 Acquisition Window

Mohit Joshi will complete three years, or 12 quarters, as chief executive of Tech Mahindra in December, and he is shifting the company's emphasis from margin gains to growth. Tech Mahindra nearly tripled profitability over roughly nine quarters of expansion in that period, TradingView reported in an interview with Joshi.

Joshi's Growth Plan at Tech Mahindra

Joshi told Mint that margin expansion is expected to continue beyond the next fiscal year, but that driving immediate growth is the company's chief priority. He said the focus will be on growth gaps, and that most of Tech Mahindra's growth has been organic, with perhaps 10 or 20 basis points coming from inorganic sources.

"We really don't want to acquire just to pick up revenue, because that is a disaster," Joshi said. He said the company will keep to organic growth with some small tap-in acquisitions for now, and that beyond March 2027 it expects to look much more keenly at larger acquisitions. Any change to capital allocation policy, including keeping more for inorganic growth, would come when the next phase of the plan is announced, anytime after April 2027, he said.

Joshi said financial services growth has been slower than he expected, while a couple of fairly large logos have been opened. On AI, he said Tech Mahindra must keep building differentiated AI for each service line, a work in progress. He said Indus began as a research and development effort to prove an Indian system integrator could build a large language model from scratch, and that selling Indus as software has been very small and not a material source of revenue.

Tech Mahindra's Workforce and AI Investment

According to akta.pro company records, Tech Mahindra has more than 149,000 professionals across more than 90 countries and serves more than 1,100 global enterprise clients. The same records list Mohit Joshi as Chief Executive Officer and Managing Director, Anand Mahindra as Chairman and Rohit Anand as Chief Financial Officer.

Joshi said the link between revenue growth and headcount will weaken rather than disappear. He said deploying a pool of forward-deployed engineers in a region could accelerate revenue without significant headcount addition, and that higher value-added services bring higher margins.

Deals Preceding the Growth Push

Tech Mahindra acquired Finastra's Cash Management product suite, including Fusion Cash Management, Fusion Virtual Accounts and Fusion Liquidity Management, Business Standard reported in October 2026. In the same month, Telecompaper reported that Orange trade union CFE-CGC warned over the transfer of 3,000 employees from Orange Business to Tech Mahindra under Projet Bartok.

BusinessLine reported in October 2026 that Tech Mahindra added 5,446 net employees in the September-ending quarter, ahead of TCS at 4,258 and behind HCL Technologies at 6,440.

Tech Mahindra's Next Planning Phase

Joshi said the next phase of the plan, including any change to capital allocation policy, would be announced anytime after April 2027. He said larger acquisitions would be considered beyond March 2027.