The Hindu Business Line : `Service offerings to drive growth'

THE Chairman of Satyam Computer Services, Mr B. Ramalinga Raju, said, "the increase in the number of service offerings, is making us more relevant and applicable to a broader cross-section of customer organisations, thereby enhancing our growth potential."

"While the global delivery of services has been clearly recognised as a mature and acceptable model today by large organisations, we believe that it is the demonstration of the ability to create business value much more innovatively that will determine our future growth."

During the quarter, the company added 25 new customers, of which three were Fortune 500 companies. The number of customers with a revenue rate of $1 million per annum had increased by 50 per cent to 96. This broad-based growth across an increased customer base has significantly de-risked the revenue model, resulting in the top 10 customers contributing 42.62 per cent of revenue in the first quarter as against 51.29 per cent in the corresponding quarter of fiscal 2004.

Under the US GAAP, the consolidated revenue for the fiscal 2005 is expected to be between $733 million and $743 million, implying a growth rate of 29.5 per cent to 31.1 per cent over fiscal 2004. Consolidated earnings per ADS for fiscal is expected to be between $0.95 and $0.96, a growth rate of 31.9 per cent to 33.3 per cent over fiscal 2004.