Though the value of the 7-year deal was not disclosed, sources said the size of the agreement is about $500 million.
When contacted, HCL Technologies said: "We are pleased to be working with PepsiCo. However, we are not able to discuss further details at this stage."
Comments from PepsiCo India could not be obtained immediately.
HCL Technologies' infrastructure services, which accounted for about 30 percent of its revenues in the January-March 2014 quarter, grew 31.5 percent year-on-year, driven by strong demand especially in the rebid market.
For the quarter, the Noida-headquartered firm saw net profit jumping 59 percent to Rs. 1,624 crores, helped by strong growth in infrastructure services as well as financial and manufacturing verticals.
Earlier this month, HCL partnered with professional networking site LinkedIn to develop Web-based applications aimed at encouraging users to go beyond the existing partnerships. The networking application which will be launched globally in English, German and French, will highlight the changing nature of business engagements as part of the first stage of a global campaign aimed at encouraging more employees and businesses to build a 'Relationship Beyond the Contract', HCL said.
In April, HCL posted strong Q3 earnings on increased demand of outsourcing services. It beat market expectations with a 59 percent rise in March-quarter profit. Revenue rose 30 percent year-on-year to Rs. 8,349 crores.
Written with agency inputs