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Tech Mahindra, which has set a target of achieving the $5-billion revenue mark by 2015, has said the growth will be balanced around the four planks of business momentum, process-as-a-service, innovation and mergers and acquisitions.
Tech Mahindra’s Chief Executive Officer C.P. Gurnani told investors recently that the recovery of the US was a positive sign.
“European region and Nordic countries continue to be very positive. We are seeing a little bit of positive traction from other regions. Overall, the scenario is improving,” he said.
Biz momentum
On the four planks of growth for the $2.7-billion revenue company, he said the first one was around business momentum where “we would look at our current business, current customers, adjacent markets and new markets,” he said.
Process-as-a-service
The second plank of growth was process-as-a-service. “Of the 84,000 employees we have in the combined entity, about 24,000 are in the business processing services. We see that a back-office transformation is not only on infrastructure and applications, but it is on completely taking over the processes (of clients),” he said.
“At present, some of the processes are applicable as shared services and platform, but process-as-a-service is clearly one of our growth areas,” he said.
Innovation & products
The third plank was around innovation and products. “We have set up a fund with SBI Holdings of Japan to promote innovation. In the first round, it has $50 million. Some of our group firms such as Comviva has good product pipeline,” he said.
acquisitions
The last growth driver would be mergers and acquisitions. Gurnani referred to the four acquisitions the company made last year. “About $8 million of our current quarter revenue came from Complex IT. It would also give us a headway in the Brazilian market. We are no longer trying to explain when the merger will happen or when the court order will come. When all of that is behind us and so our any of the related baggage concerning the merger,” he said.
> kurmanath.kanchi@thehindu.co.in
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