BANGALORE 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)
Asia stocks hold gains before Yellen speech, dollar firm
HONG KONG Asian stocks edged higher on Thursday but clung to recent well-worn trading ranges while the dollar held firm against regional currencies ahead of a speech by Federal Reserve Chair Janet Yellen at a global central bankers' meeting.
EXCLUSIVE: Monsanto pulls new GM cotton seed from India in protest
NEW DELHI Monsanto Co has withdrawn an application seeking approval for its next generation of genetically modified cotton seeds in India, a major escalation in a long-running dispute between New Delhi and the world's biggest seed maker.
Welspun faces new probe from Bed Bath, shares pressured
CHICAGO/NEW DELHI U.S. retailer Bed Bath & Beyond said it ordered an external audit of textiles from Welspun India, putting more pressure on the embattled Indian bedding and towel maker that has seen nearly half its market value wiped out this week.