Tech Mahindra eyes $5 billion sales by FY’17
After reaching 3 billion mark last year company hopes to reach its target
By : DC Correspondent
Update: 2014-09-20 01:42 GMT
Hyderabad: After clocking in a revenue of $3 billion in the last fiscal, Tech Mahindra, India’s fifth largest software service provider, is on track to garner revenues of over $5-billion by FY’17, informed a top company official.
“Outlook is positive. As the growth rate is good and we should be heading to that number. By FY’17 we should be able to achieve our stated objective (of clocking in a revenue of $5 billion),” said Vineet Nayyar, executive chairman, Tech Mahindra, on the sidelines of an exclusive industry-academia connect program organised by the Mahindra Ecole Cent-rale. With the current deals in the pipeline, Mr Nayyar added further that, “reaching $3 billion was not easy and reaching $5 billion is going to be tough but we are hopeful of this growth.”
When questioned about the cases filed against the company for the acts done by Satyam Computers before it was acquired by the firm, Mr Nayyar said, “We are in a continous dialogue with the government. If the government sees it the way, we see it then there will be a solution. Although we are quite confident that the government does not have a legal case against us, but if they have any, then we will contest it.”
Mr Nayyar added, “Our acquisition are more strategically placed and they are not to get into newer areas but into areas which are strategically placed. So as and when the opportunities pop up, we will make the acquisitions.”