Mahindra Satyam is back to hiring once again. It is set to hire 120 employees and recall its employees who were on the bench, reports CNBC-TV18’s Kritika Saxena.

Mahindra Satyam has lifted its hiring freeze and is set to hire 120 employees in the next one month. And that's not all. It has also called back 1,400 of its 6,000 employees who are on the bench. CNBC-TV18 learns that this hiring comes after new deals being signed this quarter especially in the emerging markets.

Says CP Gurnani, CEO, Mahindra Satyam, “For our business strategy and growth, we started working with Bain & Company, a high-end consulting. With them, we have come out with a new value proposition for our clients. We are definitely engaging and trying to get some additional leverages from opening new markets like defence and providing new service offerings like ICT.”

Gurnani believes that this quarter has been better than expected and is confident that Mahindra Satyam will meet the deadline of June 2010 to submit its re-stated accounts.

“As of date, KPMG is confident that they will be able to declare the accounts and give it within the stipulated period. It’s not about one day. It is going to take one step at a time. If one step I take everyday like this, I will be in good shape,” Gurnani adds.

Clearly Mahindra Satyam has fast-tracked its plans to acquire customers. This move also comes after some clients have increased their IT spends. Going forward, Mahindra Satyam expects to hire a larger number of employees and call back more from the bench.