TCS expects to double revenue from its Canada operations to $500 million by 2014, a senior official said. TCS Canada had posted revenue of $17 million in 2005 which grew to $250 million in 2010, the official said.
“We are witnessing very good demand and are sure that our revenues will double to $500 million by 2014,” the official said, on condition of anonymity.
TCS had established an office in Canada in 1999 and now operates as a wholly-owned subsidiary of the Indian software major, currently employing 3,200 consultants serving 90 clients.
When asked about revenues, TCS’ Country Manager for Canada, Mr Akhilesh Tripathi, refused to share numbers citing company policy according to which revenues are declared continent-wise.
He, however, said the Canada operations are profitable and have been recording a 50 per cent compound growth each year for the last five years, which is “much better” than the industry average.
TCS Canada has been projected to break into one of the top 10 IT firms in the country by consultancy firm IDC Canada, Mr Tripathi said.
In signs of the operations coming of age, the firm is also planning to hire from campuses in Canada this year, Mr Tripathi said, adding till now the Canadian recruitments were of experienced professionals.