The other two IT vendors have been identified as Cognizant Solutions and UST Global.
The deal will fetch the three vendors an earning of Rs 2.5 billion to Rs 3 billion rupees ($54 million-$65 million) each annually, with the larger share going to Infosys and Cognizant.
Application development and support will be handled by Infosys and Cognizant, while UST Global will test these applications.
Refusing to divulge further into the deal Wal-Mart's Media Relations Director, John Simley in an email said, "We have a large and growing business and productive relationship with many Indian companies."
Both Infosys and Cognizant refused to comment on the deal.