Tata Consultancy Services, the largest software services company in the country, is upbeat about its growth prospects in the current fiscal, according to statements issued by the top management at the 19th annual general meeting.
Attended by Tata Sons Chairman Cyrus Mistry and TCS MD and CEO N Chandrasekaran and the entire board of TCS, the AGM, held in Mumbai on Friday, was the second annual shareholders’ meeting of Mistry and the last of former CEO and current Vice-Chairman S Ramadorai.
“The global economy ended on a better footing over last year. TCS delivered a growth of 16 per cent in dollar terms, which is better than the industry average of 8.8 per cent. New service lines growth was led by consulting, digital and engineering. We see greater opportunities of growth in 2014-15,” said Mistry.
In terms of investment, he said there are a couple of areas where the company will be investing, including newer digital technology across the US, Europe and Asia Pacific and in delivery centres, which will be able to better formulate digital technology.
Chandrasekaran also highlighted the company’s focus on digital technologies, including mobility, big data, cloud computing and robotics.
“I think the digital technologies, especially mobile, social and big data analytics are significant drivers of change for businesses across the world. It will be of the order of multi billion dollars for TCS over the next three-four years. For the industry, it’s a big opportunity for the next 12 to 36 months,” the CEO told reporters on the sidelines of the AGM.
Though Chandrasekaran declined to share the company’s planned capital expenditure in the digital space, he said it would be a major portion of the company’s overall capex plan.
“We feel there is a good momentum and lots of opportunities in different markets in simplification of investments in IT and in adoption of digital technology in transformation of businesses which is driving growth. Regulatory risk related work is also driving growth,” he added on the overall growth prospects of the company.