The Hindu Business Line : Infosys pursuing 15 global deals worth $100 m each

New Delhi, Oct. 30 India’s second largest software exporter Infosys Technologies on Tuesday said it is pursuing at least 15 global deals each worth over $100 million, even as it aims to grow domestic market business to five per cent of the company’s overall revenues in the next five years.

“Globally, Infosys is in the reckoning for at least 15 opportunities, all are $100 million-plus each. These are all overseas deals and typically take 8-10 months for closure. They are across various areas including hi-tech, retail, manufacturing, and Banking, Financial Services and Insurance (BFSI), ” Mr Kris Gopalakrishnan, CEO & MD, Infosys Technologies Ltd, said at a conference here.

Domestic contracts

Infosys — which last week announced a separate unit to focus on the Indian market — is eyeing domestic contracts in areas such as financial services, telecom, manufacturing and retail space.

“A few years back, the Indian market assumed that IT services came free with software and hardware. That perception has changed, as the environment has matured. We have been exploring India in the last few years and felt the need to bring renewed focus through the independent business unit. In the next five years, India will become a significant part of our overall revenue profile…By significant we typically mean over five per cent at some point,” he said.

Infosys, which like other Indian IT services companies is facing the rising rupee, however admitted that while it plans to take advantage of the fast-growing domestic market (as global clients continued to enter India), the Indian IT spends still remained relatively small.

“In India, we are going for integrated solutions, data centre outsourcing, we are helping banks implement full core banking solution. It is difficult to quantify how big the Indian market deals will be… It may be multi-million dollar contracts over a duration but may be purchased in smaller chunks and grow as incremental projects. In fact, multi-million dollar contracts are possible,” Mr Gopalakrishnan said.

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