Mindtree gains on bagging five-year deal from Nordex Group

Mindtree rose 2.45% to Rs 1389 after the company announced a five-year deal with a leading wind turbine manufacturer, The Nordex Group.

"The Nordex Group chose Mindtree as its business transformation partner to simplify, modernize, and transform its entire IT landscape globally, while providing scalability to support the company's growth plans, the IT firm said in a BSE filing made during market hours today.

The Nordex Group is one of the leading integrated, global manufacturers of innovative onshore wind turbine systems. Founded in 1985, the products of the company regularly shape the technological development of the wind energy industry. The Group has installed wind power capacity of more than 30 GW in over 40 markets, significantly contributing to carbon-free power generation.

Venu Lambu, executive director and president, global markets, Mindtree, said: "The scope includes the standardisation and roll out of new projects and operational processes, the consolidation of existing IT services, and the development of a future-ready cloud platform which maintains a robust cybersecurity posture. We are delighted that the Nordex Group has chosen us for its transformational journey. Mindtree will bring its digital expertise and world-class, industry-acknowledged platforms and capabilities through the use of cloud and IoT technologies."

MindTree is an international information technology consulting and implementation company that delivers business solutions through global software development.

The IT firm's consolidated net profit jumped 88% to Rs 253.7 crore on a 0.61% rise in revenue to Rs 1926 crore in Q2 September 2020 over Q2 September 2019.

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