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In this episode of The Moneycontrol Real Estate show, Moneycontrol's Vandana Ramnani talks to Vikaash Khdloya, Deputy Chief Executive Officer and COO, Embassy REIT about commercial leasing trends after three waves of COVID-19. He tells listeners that the company is starting to see rents inching up as people get back to work as the physical occupancy of commercial parks improve.
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Unless India steps up its software products prowess, it will soon lose its top spot in that category, according to analysts.
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For the survey, RBI approached 7,434 IT companies, of which 1,546 companies responded,
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Information technology industry body, Nasscom is in the process of appointing a special committee to oversee discussions with the US government on tightening immigration norms.
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India's second biggest IT services company, based in the tech hub of Bengaluru, has recently been in an escalating public spat with its founders and former executives, who have accused its board of lapses in corporate governance.
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Country's third largest software services firm Wipro today said its Executive Vice Chairman and Board member T K Kurien will retire on January 31.
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Country's third largest software services firm Wipro today said it has reached an agreement with US Securities and Exchange Commission (SEC) to formally resolve a six-year old investigation and will pay USD 5 million in civil money penalty.
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Country's second largest software services firm Infosys is creating smaller business units, headed by a new line of leaders, as part of its efforts to improve market penetration and client management.
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There were reports that Infosys had laid off 500 people in the aftermath of losing its multi-million pound deal with the Royal Bank of Scotland.
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Stating that 'Brexit' was on "top of the mind" for Wipro, its chief Abidali Z Neemuchwala said the most immediate impact of the development is on currency.
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"Salesforce plans to expand team of enterprise software engineers as well as customer success representatives in Hyderabad, establishing one of its largest engineering and customer success centres globally," Salesforce said in a statement.
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The company said that the platform, that brings machine learning together with 'deep knowledge of an organisation', will enable businesses to continuously reinvent their system landscapes and lower maintenance cost of assets.
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Aberdeen Asset Management Asia has reduced its shareholding in Infosys by selling 56.26 lakh shares in the country's second-largest software services firm.
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With the investment, Infosys has picked up a minority stake, not exceeding 20 percent of the outstanding share capital of the company, it said. Set up in 2013, the privately-held Waterline Data Science has a presence in the US.
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The US-focused company, based in Silicon Valley, reported a revenue of Rs 74.05 crore in the traditionally low period for the software services sector, a rise of 115 per cent over the same period last year
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TCS said other than mission critical activities, normal business functioning of its facilities in Chennai had to be halted all week since December 1 due to the extreme weather conditions and flooding of the city after incessant rains.
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While agreeing that there is heightened competitiveness, Rajesh Gopinathan, CFO and Vice-President, TCS, is confident of achieving growth better than industry. He also adds that the company saw a currency tailwind of 70 basis points on margins.
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Meanwhile, Infosys CEO Vishal Sikka's pay package stood at Rs 4.56 crore in the said year, while T K Kurien - CEO of India's third-largest software services firm Wipro - received over 33 per cent hike to USD 1.46 million (about Rs 9.3 crore) in 2014-15 fiscal.
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The country's third-largest software services firm Wipro on Wednesday said it has hiked wages of its employees by seven percent.
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The Noida-based firm said its EBIT (operating earnings) is also expected to be negatively affected by 80 basis points. During this quarter, the US dollar continued to strengthen against almost all global currencies, HCL Technologies said in a statement.
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In his role, Neemuchwala will head the service lines of global infrastructure services, business application services, business process services, and advanced technology solutions, Wipro said in a statement.
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TCS will provide fully managed services to transform and optimise Virgin Atlantic Airways' IT processes, applications and infrastructure, India's largest software services firm said.
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Initially, the 100-seat facility in Brazil will house 25 people and provide SAP Application Management services to Citrosuco, the world's leading orange juice producer.
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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.
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Barings will buy out 42 percent stake from the family of Hexaware founder Atul Nishar and private equity firm General Atlantic, and that will be followed up by a mandatory open offer for additional 26 percent stake, according to a news report.
