'Good Accenture numbers should allay concerns for Indian IT cos'

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26 Aug, 2025 12:21

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Moneycontrol BureauGlobal IT services major Accenture’s strong earnings for the February quarter was driven by growth across all verticals and key geographies, notes broking firm Jefferies.“This should allay recent concerns on growth in Banking and Financial services and Europe; each contributes over 30 percent of revenues for the top 4 Indian IT players,” says the Jefferies note.Jefferies top three picks in the Indian IT space are TCS, Infosys and Tech Mahindra."While longer term concerns on the slowing growth, pricing pressures and cannibalization from automation for the Indian vendors remain, Accenture’s results should allay more recent concerns on BFSI and Europe, overall deal flow and broad outlook for FY17," says the Jefferies note."However, this should not discount the fact that Accenture’s success is a result of its strong execution in digital and consulting, also helped by the fact that they are better positioned for it from a delivery, sales and client profile perspective (revenue productivity at 1.7-1.8 times of Indian vendors)," the note says.