Infosys set to bag deals worth $100 m

Written by Corporate Bureau | New Delhi, Oct 30 | Updated: Oct 31 2007, 10:07am hrs
Infosys, Indias second largest software exporter, in terms of sales, is looking at clinching 15 overseas deals, worth more than $100 million each in the next 8 to 12 months.

Though none of the deals will happen in India, the company expects its revenue percentage from India to reach 5% in the next five years, compared with about 3% at present.

We are in the reckoning at this time. The 15 opportunities we are seeing across the sectors are all $100 million plus. Typically a deal of this size takes 8 to 12 months for closure. All these deals are at various stages and will take place outside India, Kris Gopalakrishnan, managing director and CEO, Infosys Technologies, said on Tuesday. To drive its revenues from India, Infosys has renewed its focus on the local market by setting up a special business unit.

In five years India will be a significant part of our overall revenue profile. India is one of the fastest growing market and economy. So we want to make sure that we are invested here as well as in China. Many of our global clients are also entering into these regions, Gopalakrishnan said.

While the US will continue to be the biggest market for Infosys in terms of revenues, followed by Europe, Gopalakrishnan expects telecom, manufacturing and retail sector will drive the growth for the company in India in the next few years.

He said large deals are coming down even in the global market, but multi-million deals are possible in India, though its very early stages. The Infy chief said, Problem with 10-year long deals is that in such a long period, business environment and technology changes a lot. So to put all that together in one contract is a challenge. He also said the company was looking at acquisitions for further growth.

We are looking at friendly acquisitions, and not hostile takeovers. It should be like a marriage where both parties agree, he added.