BusinessLogrBusinessLogr
  • Home
  • Stocks
  • Finance
  • Business
  • Company
  • Economy
  • Industry
  • Investing
  • Car News
  • Contact Us!
Reading: Infosys says back on track for ‘industry leading growth’
Share
Aa
BusinessLogrBusinessLogr
Aa
  • Home
  • Stocks
  • Finance
  • Business
  • Company
  • Economy
  • Industry
  • Investing
  • Car News
  • Contact Us!
Follow US
© 2023 BusinessLogr News Network.
BusinessLogr > Company > Infosys says back on track for ‘industry leading growth’
Company

Infosys says back on track for ‘industry leading growth’

deep
Last updated: 2015/12/11 at 7:09 AM
deep Published December 11, 2015
Share
4 Min Read
SHARE

Infosys CEO Vishal Sikka (L) and CFO Rajeev Bansal

After showing consistency in performance in the last couple of quarters, Infosys, India’s second largest information technology services company, has said it was back on growth track.

The Bengaluru-based firm also said while the present growth was primarily driven by improving the operational efficiency, the growth would be more pronounced once the results of the new initiatives it had taken started kicking in.

Infosys says back on track for 'industry leading growth'

Speaking at the Barclays Global TMT conference in San Francisco on Wednesday, Vishal Sikka, chief executive officer and managing director of Infosys, said, “We expect to come back to industry leading growth path as we have said. When Mr Murthy came back to Infosys (in June 2013), we had put a three year time frame and we are on track to get there.”

According to him, his company was at a powerful position to make the world a software driven one. “We believe that the world around us is being transformed by software and we have around 140,000 people who can write software. So, we are in an incredibly powerful position to help that transition of the world towards a software-driven world,” he added.

Sikka said the measures the company had taken to improve operations were designed to make the company more competitive.

“For us, cost optimisation is not only about improving margins. It is about making us more competitive, with the ability to drive deals profitably,” said MD Ranganath, chief financial officer of Infosys, at the Barclays global TMT conference in San Francisco on Wednesday.

“We have always said we want (margins) to be 25 per cent plus or minus. There could be quarterly variation but by and large that is the trajectory,” he said.

After years of lagging behind peers, Infosys during the last couple of quarters delivered numbers well above expectations backed by big deal wins and improved efficiency. Industry analysts believe for Infosys to deliver industry leading growth, it must eat into shares of larger rivals like TCS and Cognizant.

Infosys says back on track for 'industry leading growth'

During an analyst call last week, Karen McLoughlin, Cognizant’s chief financial officer, said, “Some competitors that have struggled with revenue growth are looking at ways to grow their top line. Some competitors are making commitments to clients that may be aggressive.”

According to Infosys, the average contract value of its large deals has gone up to $800 million from $450-550 million two years ago. “The near-term results were largely driven by operational improvement. But as we go forward, this will be driven by the new things we do,” Vishal Sikka, Infosys’ chief executive officer, said at the Barclays conference.

Infosys is focusing on renewing existing business apart from new initiatives like artificial intelligence, robotics and automation. The company claims it manages to do the same work in the infrastructure services business with 1,000 fewer people.

“The formula we are adopting is to take the people-only projects and make those people-plus-software projects. As we transform we are going to see results,” Sikka added.

 

 


[“source-businesstoday”]

You Might Also Like

Create a Media Company Instead of a Blog

The Best Content Marketing Brands’ Top Ten Corporate Blogs

5 Reasons Why Your Company Should Run an Internal Blog

Another essential joint effort, McKinsey and C3 man-made intelligence speed up big business man-made intelligence changes

14 Business Blog Models and Why They Work

TAGGED: Infosys says back on track for 'industry leading growth'
deep December 11, 2015
Share this Article
Facebook Twitter Email Print
Share
Previous Article Havells divests majority stake in European arm
Next Article Honda to recall over 90,000 vehicles, including City

Most Viewed Posts

  • Environmental thematic investing set for strong growth in 2022
  • Second income center in banks
  • T-Mobile Adds Mexico, Canada to Simple Choice Plan
  • 20 Fitness Franchises: Planet Fitness and Beyond
  • 18 Tea Franchises to Challenge Teavana

Most Viewed Posts

  • Environmental thematic investing set for strong growth in 2022
  • Second income center in banks
  • T-Mobile Adds Mexico, Canada to Simple Choice Plan
  • 20 Fitness Franchises: Planet Fitness and Beyond
  • 18 Tea Franchises to Challenge Teavana

Recent Posts

  • Why a cutting-edge billing system is essential in 2025: Accelerate Your Telecom Growth
  • 5 things to know in life sciences: Week of April 21, 2025

© 2023 BusinessLogr News Network.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?