Business Daily from THE HINDU group of publications
Tuesday, Apr 22, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Tuesday, Apr 22, 2008 ePaper | Mobile/PDA Version | Audio |
|
|
|
|
|
|
|
Info-Tech
-
New Business
Our Bureau Hyderabad, April 21 There has been no visible negative impact of the US slowdown on deal making as the company continues to work with enterprises in their effort to be more efficient. These are paving way for deeper transformation deals, according to the Chairman of Satyam Computer, Mr B. Ramalinga Raju. “In the Americas, other than the US, countries such as Canada, Brazil and some other markets continue to be buoyant and so is the case with continental Europe. The proportion of continental Europe is likely to go up as we explore more markets, just as most IT services companies are exploring,” Mr Ram Mynampati, Satyam President, said at a news conference. The company is in pursuit of about 15-20 large deals in the range of $50-100 million and above. Satyam has added 32 clients, including four Fortune 500 companies during the fourth quarter. The company now has two clients with $100 million and above revenue and 50 with $10 million and above. The company, which has over 51,000 associates, has had about 18,000 gross additions including business process outsourcing arm, and expects to recruit about 14,000 to 15,000 people depending upon the business needs, this may even go up, Mr V. Srinivas, Chief Financial Officer of Satyam, said. The focus on de-risking by slashing dependence on top 10 clients has helped the company add a much larger range of enterprise customers from different geographies. Likewise, the focus is on increasing business from non-US economies, particularly Europe and Asia-Pacific. Because of the cost structure and advantages that offshoring brings to clients, there is customer propensity to look to more things for offshore work, said Mr Mynampati, who is based in the US. The pricing, too, had improved year on year by 6 per cent and the utilisation was higher. In spite of the salary hikes and compensation packages, the operational margins continued to be robust, Mr Srinivas said. Significantly, attrition levels had come down to about 13 per cent, which is amongst the lowest in the industry, Mr Srinivas said. Asked about impact of Bears Sterns, he said, “This account is about $10 million. In any case, JP Morgan, with whom it is negotiating, is also our client.” More Stories on : New Business | Software | Satyam Computer Services Ltd
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
 |
|
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 © 2008, 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
|