The Hindu Business Line : Infosys keeps $3-b revenue forecast

UPBEAT: Mr Nandan Nilekani (left), Managing Director & CEO, Infosys Technologies, and Mr V. Balakrishnan, CFO, at a press conference in Mumbai on Monday. - Shashi Ashiwal

Mumbai , Dec. 11

Infosys Technologies, which is the first Indian company to join Nasdaq 100, aims to be one of the world's top four IT services providers, said Mr Nandan Nilekani, CEO and Managing Director. "Being one of the most liquid stocks in the US will improve our brand visibility and ensure trading by global funds," added Mr Nilekani.

"Our business model will be a mix of consulting services with offshore capabilities," said Mr V. Balakrishnan, Chief Financial Officer of Infosys.

Commenting on the future growth plans, Mr Nilekani, said: "I do not rule out acquisitions, as they will be required in verticals and geographies where organic growth alone won't ensure scalability," added Mr Nilekani. Infosys currently enjoys a 40-per cent growth rate in Europe.

The company has reiterated its October revenue forecast of around $3 billion for the current financial year, dismissing claims of a slowdown in IT spending. "Though the slowdown in IT spending is a dicey subject, we believe there are no indications of a perceptible slowdown, and the projections stay," said Mr Nilekani, at a news conference in Mumbai.

Revenues

The country's second largest software exporter had said in October that revenues for the year ending March 31 would be as much as $3.1 billion. The slowdown, if at all, will induce further cost cutting in the IT space and push outsourcing, said Mr Nilekani, adding that only an extreme recession would affect major players.

Commenting on Infosys billing rate, Mr V. Balakrishnan, "Our billing rates are quite stable, but with an upward trend."

The company's shares fell by 0.12 per cent to 2,194.7 at the BSE.