Mahindra to consider IT acquisitions, but not to bulk up: Vineet Nayyar
"As far as non-organic growth is concerned, we believe that we will not do it for the purpose of bulking up, but only if it is of strategic interest.
"We will consider an acquisition if it gives us a strategic interest that we do not have. It will be on that basis. We will be definitely looking at acquisitions, both inside and outside India. But it has to be strategic," he added.
The headcount of the combined entity is estimated at around 85,000-90,000 people and the total revenue would be close to USD 2.7 billion, Nayyar said.
Asked what was the target to make the combined entity a USD five billion entity or over one lakh workforce, he said that the headcount would have to be much more than one lakh if the revenue reaches USD five billion.
"We are working, we are striving. Remember that we started with a figure of USD 120 million six-seven years ago and we have come a long way now. We don't make forward looking statements, but you can look at the pace of our growth.
"It may not be possible to maintain the same momentum because economic conditions have changed, but nonetheless we will put a fair amount of efforts," Nayyar said.
When asked about his outlook for the IT sector vis-a-vis the global scenario and domestic macroeconomic trends, Nayyar said: "It is difficult to forecast the business. However, the economic stability is now much better. The US has started to grow and the sense
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