TCS aims to become $10 billion firm by 2010
TCS has publicly announced its intention to reach the magic $10 Billion mark by 2010;http://www.hindu.com/thehindu/holnus/006200606292069.htm
TCS aims to become $10 billion firm by 2010
Mumbai, June. 29 (PTI): Country's top software exporter Tata Consultancy Services expects a five-fold increase in its revenues over the next four years to touch USD 10 billion in 2010. The company has earmarked a capital expenditure to the tune of Rs 1,300 crores for the current fiscal and it will add around 30,000 employees during the year.
Addressing the Annual General Meeting of the company, Tata group chairman Ratan Tata said, "We aim to become among the top ten (IT companies) by 2010 with revenues touching USD 10 billion over the next four years. The company will leverage the booming IT industry which is witnessing rapid growth during these years."
During the last fiscal, TCS revenues stood over USD two billions.
As part of expansion programmes, TCS would spend Rs 1,000 crores towards real estate development, which includes setting up of campuses in various parts across the country.
About Rs 300 crores would go for technological expansions, he said.
TCS, Tata said, would continue to grow around 28-30 per cent during the year, slightly above the growth rate, predicted by the industry body, NASSCOM.
About the merger of acquired entities into the company, Tata said, it was not necessary to merge all those entities with TCS.
"As subsidiaries, we think, those (acquired entities) can register a better growth. So it's not necessary to merge these firms with TCS," he said, adding 37 out of 50 subsidiaries of TCS were making profits.
Do refer to my previous blog on this subject;
http://theringside.blogspot.com/2006/05/race-to-10-billion.html
posted by Aditya @ 6/30/2006 11:22:00 AM
0 Comments:
Post a Comment
<< Home