Tech Mahindra is hopeful of benefitting from the weak rupee for 1-2 quarters. However, inflationary pressure will push up domestic costs and overall postive impact will be less, Vineet Nayyar, vice chairman of Tech Mahindra says.
CP Gurnani, MD & CEO, Tech Mahindra expects this year to be better than the two previous years.
Vineet Nayyar the chairman of Mahindra Satyam aims to complete the merger of its company with Tech Mahindra in eight weeks following a clearance for amalgamation from Andra Pradesh High Court
In an interview to CNBC-TV18, Vineet Nayyar, Vice Chairman of Tech Mahindra talked much delayed merger of Mahindra Satyam with Tech Mahindra. He informed that almost every process has been completed, barring some litigations by 13 Ramalinga Raju companies.
A long-planned merger between Tech Mahindra Ltd and Satyam Computer Services has been delayed by an additional six months that is up to September 30.
Vineet Nayyar, Vice Chairman, Tech Mahindra told CNBC-TV18 that though BT's IT budget is coming down, but Tech Mahindra still remains their preferred partner.
Krithika Saxena of CNBC-TV18 catches up with CP Gurnani, CEO, Mahindra Satyam; Sonjoy Anand, CFO, Tech Mahindra and Vineet Nayyar, chairman of Mahindra Satyam and vice chairman of Tech Mahindra for the details and the way forward for the merged entity.
CP Gurnani, the man who led his team to turnaround the erstwhile Satyam Computers and now Mahindra Satyam, said that the company has enough resources to wade through the legal battle over claims with the IT department.
For Tech Mahindra there has been a cancellation of an order from Cox Communications. Sanjoy Anand, chief financial officer of the company says, it is a very small piece of business.
Despite an overhang of litigations, Mahindra Satyam seems to be attracting business. Speaking to CNBC-TV18 exclusively, chairman Vineet Nayyar said that they had signed a large deal in worth USD 200 million in the previous quarter, which should reflect in the topline in the coming quarter.
Terming the Mahindra-CISCO alliance "strategic", Mahindra Satyam's CEO CP Gurnani said this is positive for the company. Projecting revenue generation of USD 500-750 million over the next five years, Gurnani said the company would meet the industry’s growth expectations over the next five to six quarters.