India’s HCLTech has won ‌a $1.14 billion deal with a ​major European firm, ⁠the software services exporter said on Friday. The announcement pushed HCLTech’s shares up ‌by as much as 6.3%, boosting gains on the ‌Nifty IT index, which ‌was ⁠up 2.7%.

The deal will help HCLTech establish an AI-driven operating model to transform ​and manage ‌the client’s global digital workplace and enterprise networks, the company said.

The deal will last ‌for five-and-a-half years and is extendable ​by another five years, it added, without ⁠providing further details about the European firm.

This is entirely new ‌business for the company, HCLTech said, and not from an existing client or a deal renewal.

This is the largest deal HCLTech has ‌announced since winning a $2.1 billion deal with ​Verizon in August 2023.

HCLTech, which will report ⁠its results for the first quarter of ⁠fiscal 2027 on July 13, has forecast revenue ‌growth of 1%-4% for the year.