Mphasis looks to acquire companies that fall in the intersection between digital, risk, compliance and governance, says chief Ganesh Ayyar.
Virtusa Corporation has signed a definitive agreement to acquire 53 percent in Polaris Consulting & Services at Rs 220.73 per share
Intellect Design Arena, the demerged BFSI focused product company from Polaris, lists at Rs 69.25 per share today
As a testimony to its new strategy, Jain says the company saw nine new order wins during the quarter. Jitin Goyal, CEO of Polaris too adds that the company expects medium-term EBITDA margin in 15-16 percent range.
The company had decided to demerge its product business into an independent entity and on Friday announced that the products company, Intellect Design Arena, will be listed in coming weeks.
The company reported 24.8 percent increase in net profit at Rs 50.75 crore for the quarter ended December versus Rs 40.66 crore during the corresponding period of previous year.
Arun Jain, chairman & CEO, Polaris, says that both product and cloud business had a challenging quarter and the cloud business incurred a loss of Rs 20 crore in this quarter. The company has witnessed a slowdown in America and Europe and some deals got delayed.
In an interview to CNBC-TV18, Arun Jain, chairman & chief executive officer, Polaris gives the details of their divestment plan. The company that holds 85% stake in IdenTrust is divesting in the hope of investing into another portfolio which can be more revenue generating.
Polaris chairman Arun Jain explains that the quarter's margins were boosted by operational excellence and is confident that his legal team will be able to lift the Sebi ban on the company‘s access to the capital markets.
In an interview to CNBC-TV18, Arun Jain, chairman and chief executive officer of Polaris says the company is looking at 17-19% growth this year. "We are on the right track for building a good EPS growth this year," he adds.
Arun Jain, chairman and chief executive officer, Polaris told CNBC-TV18 that the company is confident of achieving of FY13 guidance. "We are going with 17% rupee revenue growth, Rs 2,400 crore guidance and we are still confident that we can make it possible."
Polaris chairman and chief executive Arun Jain told CNBC-TV18 that the company‘s intellect business would aid the effort to beat the industry estimate for revenue growth.
Polaris Software expects the product business to contribute 26% to the revenues ahead. Currently around 23% of the business comes from the product business.
Polaris Software Lab has announced its fourth quarter results. Arun Jain, Chairman and CEO, Polaris says, the result is good, 9% quarter-on-quarter (QoQ) revenue growth is a sign of picking up. Next year, he says, the company is looking at 20-25% revenue growth. “We are looking at a revenue of between USD 425-435 million in 2011-2012.”
In an interview with CNBC-TV18, Arun Jain of Polaris, spoke about the company's new acquisition and the road ahead.
Polaris Software Labs reported net profit of Rs 50.13 cr for the December quarter against Rs 48.15 cr in the same quarter a year ago. Its revenues for the current quarter stood at Rs 399.9 cr versus Rs 388.84 cr, year-on-year (YoY).