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PricewaterhouseCoopers (PwC), a global professional services firm, is eyeing 30 per cent compounded annual growth rate (CAGR) in revenue terms for its ‘advisory’ business in India over the next five years, a top official said.
“The market for advisory is growing by leaps and bounds in India. Opportunities are one too many and we are already growing at 25 per cent CAGR”, Deepankar Sanwalka, India Advisory Leader told BusinessLine in an interview.
For PwC in India, the ‘advisory’ business accounts for 45 per cent of the firm’s overall revenues, higher than the contributions of both audit and taxation verticals.
A few days ago, PwC’s ‘advisory’ vertical crossed the 5,000 employee count. “We are now eyeing 20 per cent CAGR over next five years in employee headcount for the ‘advisory’ business”, Sanwalka said. As on date, PwC has 113 partners and executive directors for its advisory business alone.
Sanwalka sees insolvency and cyber security as key growth areas for the ‘advisory’ business. “We started cyber practice three-to-four years back. Today we have 10 partners and 500 people in cyber. The aim is to grow five times in next three years. It is tough, but doable”, he said.
For its ‘cyber’ practice, PwC is focused on mid-market corporates and looking to offer ‘cyber security as a managed service’ to this segment.
“We see cyber security as an opportunity. Lot of mid-market corporates are willing to pay for such services. For us, mid-market is turnover between ₹500-1,000 crore”, he said.
Sanwalka also said that PwC aspires to become the “go to” firm for advisory services in India. “We are focused on helping clients become future ready”, he said.
The other domain areas where PwC’a advisory business is focused on includes data analytics, digital, transformation agenda, risk & response and intellectual property.
PwC is already working at the back-end on several government-promoted initiatives, such as Make in India and Digital India. This professional services firm is also associated with the government’s recent ‘Operation Clean Money’ portal, sources said. PwC is helping the government on the analytics side. It has 650 people for data analytics alone.
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