Inside the Mindtree makeover strategy
- Partly derailed by the pandemic, the L&T group company is thinking big to steer itself back on the growth track
- Many see a merger of L&T’s four tech firms in the future. Also, the pressure on CEO Chatterjee to deliver is telling; he not only has to better his peers but also compete with group companies.
NEW DELHI : Around 2005, IT firm Mindtree bagged Microsoft as a customer, for a one-off project worth not more than $250,000. Over the next one and a half decades, rainmakers at Mindtree mined the account to make it the company’s No.1 client. The Microsoft account generated nearly 29% of the company’s revenues in the quarter ending December 2020, up from about 20% two years ago. And now, there is growing unease, at least among equity analysts.