Bangalore: Shibulal reads out the Q2 results once again. "We've seen growth in all the verticals and in north America. 45 new clients have been added."
Analysts say it's only the rupee depreciation that as helped Infosys beat street expectation but Shibu says there's more than just that
He attributes growth in the last quarter to three major wins
• Growth in manufacturing space; Building an org for the future, working on country centric approach
• Creating engineering innovation centres in the emerging markets
• Very good wins in FMCG space
Our product side has also seen good some development. With 9 platforms and 20 clients added.
Utilisation has gone up 78 per cent
They have added 15000 new employees
They'll be adding 8000 employees in the next quarter and 45000 employees in the year.
They have touched 13% of the total 32% of the world's banking population.
The company is betting big on cloud computing.
Global economy is still uncertain. Europe and NA are facing job issues. And during these turbulent times we have done well. Complete realignment has been done.
North America is marginally up and Europe is marginally down. We have done that without losing people and also it hasn't impacted client relationship.
The Q&A session begins.
Clients are becoming cautious about the investments they are making. But they are not cancelling projects or programmes.
Ashok speaking now: Business has seen evenly distributed growth across market. Heartened to see growth in Asia Pacific region particularly Australia.
There are still some uncertainties. We are confident about our new strategy most importantly digital commerce. The one difference we see from Lehman is this time people have got time to react and people are continuing their focus on revenues.
Bala says this is an abnormal year. Clients have budget but they weren't spending. Next two quarters we can also grow.
Shibu says we have one $300mn dollar client in BFSI. The last $300mn client was last year in telecom sector.
Shibu says: The guidance is based on the currency exchange rates. There's no change in volume or assumption made earlier.
Are there bigger worries? Yes, we are very cautious, clients are taking short-term decisions but wary to take long-term decisions.
Volume growth 4.5%. It's a stable pricing environment. We are not seeing any pressure. But given the global scenario we will keep monitoring.
When asked about whether they have changed their strategy on freshers, Shibu said there is no change in lateral hiring v/s freshers. We are on track to hire 45,000 people according to yearly guidance. Have offers been onboarded? We have always honoured all the offers even in tough times. This year everybody has joined or they are in the process. As per the usual practice some will join in third quarter.
Read about the Q2 results here.
We haven't seen any big change in any vertical. If US goes into a double dip then we might see a challenge. But if we see a slower growth then the Industry will benefit.
Indian vs Non Indian employee: BPO percentage is low. There are around 32,000 employees outside India. Most of the recruitment outside India is local recruitment who are not visa dependent. We hired 86 visa-independent people in the US.
Healthcare is an extremely exciting field. We have a healthcare subsidiary in the US and we hope to see a more impactful performance from it in another year.
Acquisitions are extremely strategic. We are now looking at products and platforms for acquisitions to increase presence in other countries.
From the beginning to now guidance hasn't changed for volumes. What has changed is only the currency. When we guided at the beginning of the year Re was 44 now it is at 48. There is no change in volume but it is only change in rupee. We will change it if there is more fluctuation.
We are teh highest and fastest growing company in the last few years, claims Shibulal.
Analysts say it's only the rupee depreciation that as helped Infosys beat street expectation but Shibu says there's more than just that
He attributes growth in the last quarter to three major wins
• Growth in manufacturing space; Building an org for the future, working on country centric approach
• Creating engineering innovation centres in the emerging markets
• Very good wins in FMCG space
Our product side has also seen good some development. With 9 platforms and 20 clients added.
Utilisation has gone up 78 per cent
They have added 15000 new employees
They'll be adding 8000 employees in the next quarter and 45000 employees in the year.
They have touched 13% of the total 32% of the world's banking population.
The company is betting big on cloud computing.
Global economy is still uncertain. Europe and NA are facing job issues. And during these turbulent times we have done well. Complete realignment has been done.
North America is marginally up and Europe is marginally down. We have done that without losing people and also it hasn't impacted client relationship.
The Q&A session begins.
Clients are becoming cautious about the investments they are making. But they are not cancelling projects or programmes.
Ashok speaking now: Business has seen evenly distributed growth across market. Heartened to see growth in Asia Pacific region particularly Australia.
There are still some uncertainties. We are confident about our new strategy most importantly digital commerce. The one difference we see from Lehman is this time people have got time to react and people are continuing their focus on revenues.
Bala says this is an abnormal year. Clients have budget but they weren't spending. Next two quarters we can also grow.
Shibu says we have one $300mn dollar client in BFSI. The last $300mn client was last year in telecom sector.
Shibu says: The guidance is based on the currency exchange rates. There's no change in volume or assumption made earlier.
Are there bigger worries? Yes, we are very cautious, clients are taking short-term decisions but wary to take long-term decisions.
Volume growth 4.5%. It's a stable pricing environment. We are not seeing any pressure. But given the global scenario we will keep monitoring.
When asked about whether they have changed their strategy on freshers, Shibu said there is no change in lateral hiring v/s freshers. We are on track to hire 45,000 people according to yearly guidance. Have offers been onboarded? We have always honoured all the offers even in tough times. This year everybody has joined or they are in the process. As per the usual practice some will join in third quarter.
Read about the Q2 results here.
We haven't seen any big change in any vertical. If US goes into a double dip then we might see a challenge. But if we see a slower growth then the Industry will benefit.
Indian vs Non Indian employee: BPO percentage is low. There are around 32,000 employees outside India. Most of the recruitment outside India is local recruitment who are not visa dependent. We hired 86 visa-independent people in the US.
Healthcare is an extremely exciting field. We have a healthcare subsidiary in the US and we hope to see a more impactful performance from it in another year.
Acquisitions are extremely strategic. We are now looking at products and platforms for acquisitions to increase presence in other countries.
From the beginning to now guidance hasn't changed for volumes. What has changed is only the currency. When we guided at the beginning of the year Re was 44 now it is at 48. There is no change in volume but it is only change in rupee. We will change it if there is more fluctuation.
We are teh highest and fastest growing company in the last few years, claims Shibulal.
