Bengaluru, July 24 -- For a while now, IT services companies have talked about AI as a future opportunity more than a present one. This quarter feels like it's starting to cross that line, at least for one company whose newest AI platform is already showing up in deal wins just weeks after launch.With a market capitalization of Rs. 43,031 crore, the shares of Mphasis Limited were trading at Rs. 2,338 per share; the stock went up by 6 percent from the day's low after the announcement, and they are trading at a P/E of approximately 22x.

A Steady Start to FY27

Q1FY27 gross revenue came in at $471 million, up from $463 million in the previous quarter, a sequential rise of 2.1%. On a direct basis, revenue grew 2.2% QoQ and 9.9% YoY in consta...