Sep 21, 2012, 05.29 PM | Source: CNBC-TV18
In an interview to CNBC-TV18, Rostow Ravanan, chief financial officer of MindTree says the current quarter will see better growth than the previous quarter.
“ Manufacturing and BFSI are doing well. ”
- Rostow Ravanan (CFO)
Below is the edited transcript of his interview with CNBC-TV18's Latha Venkatesh and Ekta Batra.
Q: How are you seeing business? How do you see the volume of business in Q3 compared to Q2 and in Q2 compared to Q1? Will you see an incremental growth or do you see atleast maintenance of the rate of growth?
A: The current quarter will see better growth than the previous quarter. That is broadly the commentary we gave in July, when we announced the results for the June quarter. So far, things are panning out as per that estimate.
Q: Can you give us a sense of incremental order inflow at this point in time with regards to your key verticals manufacturing and BFSI? What is the deal pipeline looking like?
A: Manufacturing and BFSI are two of our largest verticals. Both verticals have had a sequential growth of upwards of 4% in Q1. Similar sort of momentum continues for both of those verticals even now. We have had some decent wins in both the verticals recently and those wins are ramping up our schedule. So, both those verticals are doing well for us even as of today.
Q: Do you see any pressure on billing at all?
A: As of now, no. Even in Q1, we had a marginal increase in pricing, even after adjusting for cross currency impact. Within all our existing customers right now as well as new opportunities, which we are bidding for, currently, we are not seeing any pricing pressure.
Q: How would you be placed in terms of your FY13 guidance then? In the previous quarter, you did mention that the global environment continues to be challenging, there were delays in decision making, but you aren’t seeing any budget cuts by clients as of now. How is the scenario panning out in this quarter? What are you touted to complete FY13 by?
A: For the full year, we changed our position between April and July. In April, we said we will be higher than industry estimates and in July we reduced it marginally. We said we will be in line with industry estimates. That is broadly what we are tracking even as of now.