Wipro's turnaround act: Not yet time to pop a bottle of champagne, says CEO

Apr 19 2014, 18:34 IST
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Wipro CEO TK Kurien has said the company plans to expand further in the US, its largest market. Wipro CEO TK Kurien has said the company plans to expand further in the US, its largest market.
SummaryIn last 9 months, Wipro has done the turnaround act by delivering consistent growth numbers.

In the last nine months, Wipro, Indiaís third-largest IT services exporter, has done the turnaround act by delivering consistent growth numbers, and it is confident of continuing the momentum in the current fiscal. TK Kurien, CEO, in an interview with Sayan Chakrabarty and PP Thimmaya, said the demand pipeline remains strong, the conversion rate is high and the company plans to expand further in the US, its largest market. Excerpts

How do you see the overall demand environment?

I remain bullish. I see significant demand in the pipeline. The last quarter was, probably, one of the best weíve ever had, with many deals coming from new accounts. Companies with a huge focus on the infrastructure and BPO segments are saying there's no doom and gloom. They say so because infrastructure services form a large part of their business, apart from BPO.

We are not seeing huge demand in terms of application services. Thereís is secular demand, but it is not big. But, in infrastructure, we have seen huge demand. And that's a big positive for us. In BPO, if you hit it, you hit it big.

In terms of growth, which geographies are key?

I see the US coming back very strongly in terms of manufacturing. For us, that's a big opportunity. Because, even today, our coverage is low in the US. Our whole emphasis is on covering the US completely. Similarly, we see enough opportunities in continental Europe. It's not reflected in our numbers, but we had a few good wins there in the last couple of months. The big bets are on the US, continental Europe and the UK.

How do you plan to expand presence in the US?

There are large swathes we don't cover. For oil and gas, the place to be in is North Dakota. But we are not there. If you look at the mid-west, which is where manufacturing is, we are in some parts, but not all. We have to adopt an approach where we are geographically closer to the customer ó both in terms of sales and delivery ó rather than scattered. The real focus is to be where the customer is. That does not mean opening more centres in the US, but more people solutioning, programme-managing and selling in front of the customer.

How strong is your order pipeline?

The pipeline is strong and the conversion rates have really improved. There's a 50% improvement in conversion rates from FY13

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