New Delhi, July 3 -- HCL Technologies Ltd bagged a $1.14 billion, five-year contract from a European Fortune 50 company, ending a three-year mega-deal drought for the country's third-largest tech services firm. The deal assures HCLTech $228 million in annual revenue, translating to about 1.6% growth in FY27.

"HCLTech is pleased to announce the signing of a significant strategic partnership with a Europe-headquartered, Fortune Global 50 Firm to establish an AI-driven operating model to transform and manage their Global Digital Workplace and Enterprise Networks," the Noida-based company said in a press release dated 3 July.

The company is expected to manage IT procurement work including supplying the client's employees with hardware and t...