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Wipro Ltd opened a new hub at GIFT City, Gandhinagar, to boost AI solutions for BFSI clients, focusing on digital banking and capital markets. It starts with 150 seats, expandable to 500. Shares of the company ended 2.79% lower at ₹188.87 ahead of the announcement on Thursday, March 19. The stock has fallen 26% over the last six months.
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Wipro Ltd on Thursday, March 19, launched a new hub at Gujarat Finance Tec-City (GIFT City) in Gandhinagar, aimed at strengthening its capabilities in delivering AI-led solutions for global banking, financial services and insurance (BFSI) clients.
In a press release, the company said the facility will focus on building next-generation, consulting-led and AI-first financial services capabilities, aligned with its Wipro Intelligence platform.
The hub will support solutions across areas such as digital banking, capital markets, regulatory technology, risk and compliance, and core platform modernisation, the company said.
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Wipro added that the new centre will enable it to co-innovate with clients, embed AI into financial workflows and scale secure, domain-led platforms to meet rising global demand for AI-driven BFSI transformation.
Sanjeev Jain, Chief Operating Officer at Wipro, said, “Wipro’s presence at GIFT City is a strategic investment to scale the impact of Wipro Intelligence for the global BFSI industry.”
He added that the expansion would help deepen client engagement and support long-term value creation, while also reinforcing collaboration with the government of Gujarat.
The hub will initially offer 150 seats, with the capacity to scale up to 500 seats based on client demand.
Wipro said the expansion also reflects its commitment to developing local talent in Gujarat, leveraging the region’s growing technology ecosystem and talent pool.
For the December quarter, the IT services company posted 1.2% sequential growth in its revenue, which stood at $2,635.4 million on a constant currency basis. In rupee terms, the revenue stood at ₹23,378 crore, lower than the CNBC-TV18 poll of ₹23,549 crore, and higher by 3.3% on a sequential basis.
Margins for Q3 expanded nearly 100 basis points to 17.6% from 16.7% quarter-on-quarter, and surpassed the CNBC-TV18 poll of 16.5%.
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Shares of the company ended 2.79% lower at ₹188.87 ahead of the announcement on Thursday, March 19. The stock has fallen 26% over the last six months.
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(Edited by : Shoma Bhattacharjee)
