IT Results Preview - Growth Tailwinds To Sustain In FY22: Prabhudas Lilladher
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Prabhudas Lilladher Report
We estimate Q1FY22 revenue growth between 1.4%-9.4% QoQ on a constant currency basis (average: 4.1%) for Tier-1 and 3.6%-10.9% QoQ CC (average: 4.2%) for Tier-2.
We believe Tata Consultancy Services Ltd., Infosys Ltd. and Wipro Ltd. will lead growth among Tier 1 and Coforge Ltd., Mindtree Ltd. and Mphasis Ltd. among Tier 2.
We have upgraded Mphasis' earnings multiple to 26x (earlier 24x).
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