Reports suggest that the US Department of Homeland Security is readying a proposal that will make getting H-1B visas more difficult. In an interview to CNBC-TV18, Sudin Apte, CEO & Research Director at Offshore Insights and Sameer Bendre, Chief People Officer at Persistent Systems shared their views and readings on the same.
India's largest software company confirmed this morning that it would consider doing a buyback on February 20.
Anand Deshpande, Founder & CEO of Persistent says the deal will also add close to 500 employees which includes experts from IBM.
Anand Deshpande, Founder, MD and CEO, Persistent Systems says the products are powered by Apache CloudStack.
Anand Deshpande, founder, MD & CEO says that the company is on lookout for more acquisitions to expand its customer base.
Persistent is looking for more such acquisitions in the digital transformation business, says Anand Deshpande, CMD & CEO of Persistent System.
Appearing on CNBC-TV18's special edition from Bengaluru, Chairman of Manipal Global Education TV Mohandas Pai says the world has changed since it has got a very stable IT platform.
Persistent is targeting to maintain its profit before tax (PBT) margins at 18-20 percent this year by a strategy shift. The company will now sell its products to enterprise instead of independent software vendor (ISV) clients, Mritunjay Singh, ED and COO of Persistent said.
According to Pai, management transformation is the key to success for the IT companies now.
Persistent Systems is expected to clock â€˜muted‘ growth this quarter, a development that will likely result in the company missing its full-year dollar revenue growth target of 15 percent, founder and CMD Anand Deshpande told CNBC-TV18
Anand Deshpande, CMD & CEO, Persistent Systems credits it to company‘s early investment in SMAC i.e. Social, Mobile, Analytics and Cloud. In an interview to CNBC-TV18, he says 50 percent of its revenues are from newer technologies.
According to Mritunjay Singh, the funding will primarily be done through internal accruals and is therefore, completely a cash deal which is upfront payment and is very niche
As the demand trends for the IT industry looks strong, the company believes it can beat NASSCOM guidance for FY14.
Rohit Kamat, company CFO expects to report good growth in revenue and margins in the second half of the fiscal, subject to vacation time and currency impact.
Persistent Systems profits and margins have not been affected by rupee depreciation as the company hedges some of its revenues and will continue to adopt that strategy.
Speaking to CNBC-TV18, chief executive of Persistent Systems, Anand Deshpande says that they revised guidance downwards because they have a better understanding of the problems of the business now.
Anand Deshpande, Founder, CMD, Persistent Systems in an interview with CNBC-TV18 said that the company is not seeing any slowdown in terms of any of customers reducing specific budgets. It says that the revenue targets are on track and aims to maintain profit before tax margins this year.