HCL Technologies reported a largely in-line set of earnings. The company has maintained guidance on all parameters. Profit and dollar revenue have come in-line with estimates. In an interview with CNBC-TV18, C Vijayakumar, CEO and Anil Chanana, CFO of HCL Technologies spoke about the performance and guidance of the company.
Given the current landscape in the market, they would look at opportunities in digital, cloud, said C Vijayakumar, CEO, HCL Tech.
Infosys today offered to buyback equity shares not exceeding Rs 13,000 crore at a price of Rs 1,150 per share.
In an interview to CNBC-TV18, C Vijayakumar, CEO and Anil Chanana, CFO of HCL Technologies spoke about the results and gave their outlook for the company.
Speaking to CNBC-TV18, C Vijayakumar, Chief Executive Officer of HCL Technologies, said a deal with IBM had been extended and would fetch HCL USD 40 -50 million in revenue.
Any change in immigration policies by the new US President elect Donald Trump is unlikely to hit HCL Technologies much as 65 percent of its US workforce is local, CFO Anil Chanana told CNBC-TV18.
The IT giant will be the industry leader in organic growth once it acquires the Butler America Aerospace. The acquisition will be completed by December 31 2016.
Anant Gupta, the company‘s CEO, speaking to CNBC-TV18, said that organic growth in the first quarter was higher on back of strong foundation in different sectors.
Strong orderbook and focus on tapping opportunities will help growth momentum for HCL, says the management.
Mphasis looks to acquire companies that fall in the intersection between digital, risk, compliance and governance, says chief Ganesh Ayyar.
On Friday, HCL Technologies announced it would buy Geometric for Rs 1,237 crore while this morning, private equity firm Blackstone said it would buy majority stake in Mphasis in a deal that may be valued up to Rs 7,071 crore.
The deal is complementary in terms of clients and skill-set, said Manu Parpia, Founder & CEO, Geometric.
The acquisition of 'Strength of Nature' by Godrej Consumer Products will help the firm's international revenues exceed its Indian sales in FY17, says Godrej Group Chairman Adi Godrej.
Speaking to CNBC-TV18, Pankaj Tagra, Head of Nordics Business at HCL Tech says the external business is a fraction of the total internal business, which HCL would be acquiring.
HCL Tech has recorded broad-based growth, is the word coming in from Anant Gupta, CEO of HCL Technologies; while Anil Chanana, the CFO says he continues to maintain EBIT margin band of 21-22 percent
The dismal quarter posted by HCL Technologies also saw its operating margins come off to a low of 19.4 percent.
Anant Gupta, President and CEO, HCL Tech says digitalization in infrastructure, modern application and engineering services is going to aid HCL‘s growth.
Anil Chanana, chief financial officer of HCL Tech says the industry continues to see good growth. He expects margins to be at 21-22 percent considering the company has stepped up investments in the last few months.
HCL Technologies' profit increased 2.3 percent sequentially to Rs 1,915 crore during the quarter.
A day before New York Marathon, TCS CEO N Chandrasekaran takes pride in the achievement of the company. He says in order to serve its clients holistically TCS will need to venture into new territories ahead of time, venture into new markets, venture into new industries and venture into new service lines.
HCL has signed 15 transformational engagements with more than USD 1 billion of total contract value in this quarter.
Over the past year, HCL Tech‘s net margins have gone up from the 25 percent range to over 30 percent. According to CEO Anant Gupta, the company has started a shift in the business model from time and material services to outcome-based services.
CEO Anant Gupta shared the company‘s success with its employees and customer and said that the company will continue to reinvent itself in 2014.
â€œI would say 2014 continues to look good. The renewal market continues to be buoyant, something we always have been saying. So I would say the market is buoyant,â€ said Anant Gupta, CEO, HCL Technologies in an interview to CNBC-TV18.
In an interview to CNBC-TV18, Som Mittal, President, NASSCOM spoke about IT sector growth trajectory.