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:

REUTERS SHOWCASE

2015: India Outlook

2015: India Outlook

India in 2014: A dream run for markets  Full Article 

Funding Woes

Funding Woes

Co-founder of SpiceJet seeks time to finalise rescue  Full Article 

Regulating Airfares

Regulating Airfares

India considers temporary cap on airfares - government official  Full Article 

Flying Back on Course

Flying Back on Course

The inside story of the new Airbus A350 jet  Full Article 

Tracking Gold

Tracking Gold

Gold inches higher on weaker dollar, Asian buying  Full Article 

Cyber Attacks

Cyber Attacks

China condemns cyberattacks, but says no proof N.Korea hacked Sony  Full Article 

Connecting Markets

Connecting Markets

China stock connect scheme scorecard throws up surprises  Full Article 

Reuters India Mobile

Reuters India Mobile

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