Anand Mahindra Vice Chairman and Managing Director of Mahindra and Mahindra (M&M) said Mahindra Satyam had seen strong traction and had not encountered any unexpected surprises. The company, he said, got 35 new logos onto the Mahindra Satyam clients' roster. "Our A-Pac (Asia-Pacific) region, as we call in Mahindra Satyam, has done extremely well. They have added five new clients in the last quarter."
Mahindra is fairly bullish about the return to strong IT spending by global companies again.
Commenting on the company's core business, Mahindra said, "The excise is still very high as far as the higher-priced cars are concerned, our area of competition - the SUVs. So, I do not believe that we are benefiting from the stimulus as far as our segment is concerned."
He said any premature withdrawal of those excise concessions would be unwise at this stage. "I believe the utterances that the Finance Minister gave us hoped to believe that there won't be premature actions here."
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