Infosys CEO says has 'pretty strong' order pipeline

BANGALORE Tue Mar 13, 2012 1:30am IST

A broker reacts while trading at a stock brokerage firm in Mumbai February 6, 2008. REUTERS/Arko Datta/Files

A broker reacts while trading at a stock brokerage firm in Mumbai February 6, 2008.

Credit: Reuters/Arko Datta/Files

Related Topics

Stocks

   

BANGALORE (Reuters) - Infosys, India's No.2 software services exporter, has a pretty strong pipeline and expects the number of large order wins in the current quarter to be in line with the previous quarter, chief executive S. D. Shibulal said.

He also said on Monday the company's 100 largest customers had finalised spending plans for 2012 and that their budgets were generally unchanged from the previous calendar year.

"I would at this point maintain that it is flat year-on-year," he said in a telephone interview.

Infosys, the bellwether for the Indian IT services industry, has won orders in the $100 million-$250 million range in the current quarter and may land more such large deals by the time the quarter ends this month, he said.

"Last quarter we had multiple large deal wins. There is nothing telling me at this point that this quarter will be any different. We have quite a few large opportunities in progress and our win ratios are very good," Shibulal said.

Infosys in January said global economic uncertainty weighed heavily on its clients' technology spending decisions, and cut its dollar-sales forecast for the year to March 2013, sending its shares down 8 percent that day.

Even a modest strengthening in the United States, Infosys' biggest market, would thus be positive for the company.

On Monday, analysts at Standard Chartered said that in April Infosys may make a full-year forecast for the next fiscal year that will "surprise" the markets, and raised their rating on Infosys to outperform.

Infosys is looking to build up its presence on the ground in the United States, and plans to open a development center there.

The firm is on track to hire 1,200 people in the United States in the fiscal year that ends this month, and may double U.S. recruitment in the year that starts in April, Shibulal said.

Infosys shares, valued at nearly $33 billion, fell 1.33 percent to close at 2,817.4 rupees in Mumbai on Monday.

(Editing by Tony Munroe)

FILED UNDER:

Economic Pulse

REUTERS SHOWCASE

Gold Imports

Gold Imports

India eases gold import rule in surprise move.  Article 

Indians in Iraq

Indians in Iraq

India says no contact with 39 men held by Islamic State in Iraq.  Full Article 

Sahara Issue

Sahara Issue

Sahara looks to raise $650 million loan to fund bail.  Full Article 

Test Match Postponed

Test Match Postponed

First test against India postponed after death of Hughes  Full Article | Related Story 

Bhopal Tragedy

Bhopal Tragedy

Bhopal's toxic legacy lives on, 30 years after industrial disaster.  Full Article 

Banking Sector

Banking Sector

After record deal, more India bank takeovers on cards  Full Article 

Islamic Fund

Islamic Fund

India gets new Islamic equity fund but debt market still off-limits  Full Article 

Nigeria Violence

Nigeria Violence

Bombs, gunfire kill 81 at crowded mosque in Nigeria's Kano  Full Article 

Movie Review

Movie Review

D’Silva's “Ungli” just skims the surface  Full Article | Related Story 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage