Business Daily from THE HINDU group of publications
Wednesday, Nov 18, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Wednesday, Nov 18, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
|
|
|
|
|
Info-Tech
-
Software Web Extras - Outlook
Adith Charlie Mumbai, Nov. 17 Tata Consultancy Services has recovered all its dues from American carmakers - General Motors and Chrysler, a top company official said. The two companies had a rough time during the slowdown which eventually saw the US Government bailing out GM, while Fiat of Italy took charge of Chrysler. “We were on the list of preferred vendors for both companies thanks to which we were able to get all the dues,” Mr Regu Ayyaswamy, Vice-President, Engineering and Industrial Services of TCS, told Business Line on the sidelines of the Nasscom Engineering Summit here on Tuesday. The company, which provides IT services and offshore engineering solutions to automobile makers, had an average monthly billing of over a million dollars from both automakers. “In this business, we always run a delay of two-three months in getting payments,” he said. Interestingly, the quantum of business that TCS does with GM and Chrysler has not come down despite the fact that both had filed for bankruptcy. “After filing for Chapter 11, both companies have displayed exceptional stability as a result of which our business with them has not been impacted,” he said. Despite the slowdown in demand for IT services from the global engineering sector, TCS expects to almost double revenues from its engineering services in the next two years.
By 2011, it expects engineering services to account for 10 per cent of overall revenues from the present level of six per cent as TCS is seeing growth returning to this practice. “Despite the crisis that the auto industry is in, the pipeline is showing signs of growth. Some customers are opening up their product development budget which is a good sign,” said Mr Ayyaswamy. The engineering unit of TCS employs 6,500 people. Helping Chrysler TCS deal with Chrysler strengthens auto portfolio More Stories on : Software | Cars | Outlook | Tata Consultancy Services Ltd
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2009, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|