Info-tech

Infosys’ focus on big deals pays off

TE Raja Simhan Chennai | Updated on July 19, 2021

Pravin Rao, COO, Infosys, said that energy, utility, resources and services vertical grew in strong double-digits, along with impressive deal wins during the June quarter

In the last one year the Bengaluru-based IT major Infosys was ahead of its Indian peers in signing a greater number of deals contributing over $100 million in revenue. Its number of active clients in the $100 million-plus category increased to 34 in Q12021 as against 25 in Q12020. In comparison, for TCS the number of clients in the category increased by two to 50 while Wipro’s remained unchanged at 13.

The large deals really come when clients are looking at very strategic, digital transformation programmes, which start with business, technology, and operations together or look at business, technology and cloud, which drives a lot of that change, Salil Parekh, CEO, Infosys, told analysts while discussing last fiscal’s financials.

Pravin Rao, COO, Infosys, said that energy, utility, resources and services vertical grew in strong double-digits, along with impressive deal wins during the June quarter. The outlook is improving across sub-sectors and geographies where the company operates. Clients are getting back to normalised levels of discretionary spending, especially in areas involving customer experience, operational efficiency and associated legacy transformation, he said. Ankit Gupta, Practice Director at Everest Group said since late 2019, Infosys has been very vocal about focusing on large deals and committed resources (both in terms of people and monetary) to achieve the result. Across multiple deals such as Vanguard, Infosys’ commitment was seen in getting a large deal even if it takes significant investments to kick-start the engagement. “The balance sheet leverage includes appetite to absorb and rebadge client employees,” he added.

Boz Hristov, Professional Services Principal Analyst, Technology Business Research, Inc, US, says that ongoing investments in portfolio and skills, backed by the aligned visions of the company’s leadership and founders, have placed the company on a successful path.

Published on July 18, 2021

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