CP Gurnani, MD & CEO expects headwinds in the second half of the year, but is positive of performing better than peers.
C P Gurnani, MD & CEO of Tech Mahindra is confident that the IT industry will achieve 11-11.5 percent compounded annual growth rate (CAGR) over the next five years and will meet its 2020 revenue target of USD 225 billion.
Mahindra and Mahindra Group CFO and CIO VS Parthasarathy says India is on the right track on ease of doing business and says things are slowly improving.
Over the next two three quarters, Vineet Nayyar Executive Vice Chairman expects the company to gain back its margins.
In an interview with CNBC-TV18, Tech Mahindra vice chairman Vineet Nayyar and CEO CP Gurnani spoke about the company's earnings, state of business and outlook going forward.
Speaking to CNBC-TV18, Abhishek Shindadkar, IT Analyst, ICICI Direct says the profit warning was anticipated as the company had said in their Q4 earnings that first half of this year will be moderate given there was weakness in the telecom and the enterprise.
Speaking to CNBC-TV18 Kailash Lalpuria, ED, Indo Count Industries says that stable cotton prices will be helpful for the company's exports in US and the other developed nation markets like European Economic Communities (EEC), UK, Melbourne, Australia and Canada.
In an interview to CNBC-TV18, management of Tech Mahindra discusses company's performance in the fourth quarter.
Vineet Nayyar, executive vice chairman, Tech Mahindra, says the company's focus right now will be on making all prior acquired companies grow at healthy rates.
Tech Mahindra management was upbeat about the road ahead and reiterated that they were on track to achieve their USD 5 dollar revenue target. Vineet Nayyar, Executive VC and CP Gurnani, MD & CEO spoke exclusively to CNBC-TV18‘s Kritika Saxena.
Vineet Nayyar, executive vice chairman, Tech Mahindra, says there is increased automation in the industry to reduce the labour-intensive nature of the work and managements will have to need to work to adapt these changes.
Experts feel investors should be comforted as far as margin pressure is concerned over the medium term, especially with the cash outflow that they are looking at.
The Tech Mahindra management said it was confident of its growth outlook going forward. “When you have logged performance like this in the last 12 months, we think good about the future and we think we will be able to deliver on a similar trajectory,†MD and CEO CP Gurnani said.
Tech Mahindra and Bombardier have signed a mutual agreement that will lead Tech Mahindra to work with Bombardier globally, with which, the firm is set to hire 1,200 people in Canada in the engineering vertical.
Sources say that the Tech Mahindra might be looking at aquiring promoter‘s stake in FT. However, Nayyar refused to comment on the matter saying "it would be too premature to speculate about FT".
M&A is an area Tech Mahindra is looking at in terms of its 2015 goal but at the same time organic growing is also very important for the company, says Amitava Roy
Nasscom had estimated 12-14 percent growth for the Indian software services industry in FY14, and it aimed to achieve revenue of USD 300 billion for the IT industry by 2020.
Vineet Nayyar, Vice Chairman of Tech Mahindra expects Mahindra Engineering Services (MES) merger to play a big role in growth going forward.
On the guidance for Q3, CP Gurnani, managing director and chief executive officer, Tech Mahindra says the quarter will be slower owing to the various number of holidays in Europe and US.
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
Tech Mahindra has posted good Q4 numbers, with revenue for the fourth quarter up 6.5% to Rs 1,907 crore, and profit growth at 36.8%. The management says the need for telecom has grown and diversified and a number of devices are in the market, creating an insatiable demand for data.
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.