Tata Consultancy Services looks for strong FY15 after poll verdict

May 17 2014, 19:44 IST
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TCS said it is looking at a strong show in FY'15 supported by global economic revival, and hopes of pick up in India business on account of the decisive mandate in elections. TCS said it is looking at a strong show in FY'15 supported by global economic revival, and hopes of pick up in India business on account of the decisive mandate in elections.
SummaryTCS in mid-April posted a 48.2 per cent jump in net profit at Rs 5,358 crore for the fourth quarter of 2013-14 fiscal

time in polls.

"Also, I think from the private sector point of view lot of activity will happen so I think India will again begin to grow later part of this year," he added.

On HR perspective, Chandrasekaran said: "We are happy that we have crossed three hundred thousand associates and we have a very energetic team and we have a best retention in the industry. We have also given an excellent hike of 8 to 14 per cent in India."

"We expect that on the people side we will continue to grow, we have already announced fifty five thousand people as the target for next year, already twenty five thousand offers have been made at the campuses. So, we are looking good from the people's perspective."

Chandrasekaran said: "All in all, I think we are happy where we are and we really looking forward to another strong year in FY'15."

Asked whether with the impact of elections and technology spend there will be turnaround in India business, he said, "I expect the India business to pick up with the kind of mandate that we got yesterday. Both from the government spending because I do expect that the new government will adopt technology, and also the corporate sector I think we will see a revival across the board."

"So, I do think that the domestic market will pick up but we need to wait, at least till September before we start to factor in anything," he added.

To a question on immigration bill, Chandrasekaran said "....in general we are in a state of readiness for any type of scenario that it may take."

"What we have also done is hiring in US has been stepped up, we have lot more local employees now and we have enough number of visas, so I think it is okay."

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