With the recession-hit telecom and government sectors dragging down its performance, Wipro Infotech now plans to focus more on oil & gas and BFSI sectors.
The India-focused arm of Wipro saw a slowdown in the last quarter, which had an impact on Wipro's total revenues. To counter this, Wipro Infotech is planning to increase its partner ecosystem in West Asia and India markets. “We are looking to tie up with more partners since we see continued opportunities in verticals like oil and gas, BFSI, government and education,” Mr Anand Sankaran, senior vice-president.
He added that in financial services, governments in these regions are looking at Anti Money Laundering (AML) solutions.
According to company officials, the company is eying multi-million dollar projects such as the educational institutes run by King Abdullah of Saudi Arabia.
West Asian market
According to analyst estimates, West Asian market which comprises Saudi Arabia, UAE, Oman, Qatar, Kuwait and Bahrain is estimated to be $10 billion, out of which $3.5 billion is services. Wipro Infotech has revenues in excess of billion dollars and as of the January-March quarter, it clocked revenues of $300 million.
“We aim to grow 50 per cent more than our competitors in the Middle East,” said Mr Sankaran. One of the reasons for Wipro's bullishness is the demand that the company is seeing amongst corporates in the Middle East market.
In the second phase of IT deployments, companies are talking to us about technologies such as analytics, mobility, cloud and social media. Gartner which estimates that West Asia and Africa enterprise IT spending across all industry markets will reach $93.87 billion in 2012, a 6.3 per cent increase from 2011, corroborates this.