Indian IT services major LTIMindtree is expanding globally. The company on Wednesday announced the incorporation of a subsidiary in Brazil with an initial investment of $1 million and has inaugurated its regional headquarters in Riyadh along with offices in Canada and China.

“We are committed to expanding our global footprint and being the preferred global partner for our clients. We recently inaugurated our regional headquarters in Saudi Arabia’s capital Riyadh as part of our expansion in the Kingdom of Saudi Arabia and West Asia.

“This follows the recent announcement of a joint venture with Aramco to create an IT services company in the Kingdom. This will enable LTI Mindtree to support, manage and direct its strategic business initiatives in this region,” said Debashis Chatterjee, MD and CEO, LTI Mindtree, at the quarterly earnings call.

“We have also opened offices in Calgary (Canada) and Shanghai (China) and look forward to expanding our presence in Brazil. We now have a delivery presence across all key global locations,” Chatterjee said.

With the expansion, the company’s global footprint includes a presence in the Americas, Asia Pacific, West Asia, Europe and Africa. The company on Thursday also announced that it has extended its 17-year collaboration African financial services group Absa Bank.

LTI Mindtree scrips were up 3.46 per cent on Monday at ₹5,754.05 over the previous close at the Bombay Stock Exchange with the analysts bullish on the company’s growth prospects even as margins remain a concern.

“LTIM’s commentary was particularly encouraging among companies that have reported earnings so far. Clients are finally resuming the ‘high priority transformation’ projects, primarily focusing on areas such as data engineering, data estate modernisation and ERP modernisation. Following a prolonged period of subdued client activity, this development sets a positive stage for pre-Gen AI investments, with promising implications for FY26,” Motilal Oswal said in an update.

“Richer revenue visibility gives us confidence in its business growth moving forward. However, rising concerns over prospects of large economies along with prevailing supply side constraints pose uncertainties over the company’s short-term growth rate,” said analysts at Axis Securities.