Symantec sets sight on outdoing market with 30% topline growth

Mirza Mohammed Ali Khan New Delhi | Updated on May 10, 2019 Published on May 10, 2019


Cyber-security major Symantec aims to grow 30 per cent in India this fiscal even as the market is projected to grow only only 15 per cent, a top company official said.

“We intend to grow at double the market rate and we are well positioned to do that,” Gaurav Agarwal, Managing Director, India and SAARC for Symantec, told BusinessLine. “The (company) portfolio is extremely wide, very relevant. We serve all the top banks, and top manufacturing, IT and government clients,” Agarwal added. He also said that these will continue to remain among the big verticals for Symantec, going forward.

The US-headquartered company also looks to drive growth by focussing on the mid-market space. “It is something that I am personally focussed on from the FY20 perspective – where (mid-market) the maturity is low, penetration is not very high, and the companies don’t have the right staff or the ecosystem to support them as well,” said Agarwal.

The recent leadership changes at the global level, with a new CEO and CFO, will not affect the company’s India plans, stressed Agarwal. “I don’t see an impact on the India operations in the short term. Our Q1 plans are rock-solid. My FY20 plans are all locked in. I see no change,” he said.

Symantec sees large scalability and potential in the mobile-security business. Mobile malware is on the rise given the penetration of handsets in India and their emergence as the device of choice for accessing Internet. . “We have some initial clients. But it is still early days. We need to scale,” he said.

Agarwal elaborated that the market is poised to grow at 100 per cent every year over the next three years but said that organisations need to have clarity on the privacy angle with their ‘bring-your-own’ devices policy (relating to employees).

The company also has 200 active partners who work on its Integrated Cyber Defense platform – a single platform that unifies cloud and on-premise security and gives protection across endpoints, networks, applications and clouds.

Published on May 10, 2019
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