Software industry body, Nasscom expects at least 70,000-80,000 engineering graduates who passed out in June 2009 and were offered jobs in their 5th and 6th semesters by TCS, Infosys and Accenture, among others, to get absorbed by March 2010. Not too long ago, there were apprehensions that the appointments of these tech grads could get deferred till 2011 in the aftermath of the global slowdown. However, the perception appears to have changed.
Speaking to the media, Nasscom Vice-President Sangeeta Gupta said, "There's some amount of pick-up in IT spending and clients have become active in the decision-making process. This augurs well for the IT industry and is likely to result in hiring by IT companies. Companies like TCS, Infosys and Accenture, among others, are expected to start honouring the offers they made. As a result, at least 70k-80k engineering graduates, who were issued offer letters, are expected to get absorbed by March 2010."
For instance, the country's biggest software firm Tata Consultancy Services (TCS) had made some 24,000 offers in 2008-09, according to its Q2 analyst call. The company had indicated that it would honour these offers this fiscal. In Q3, TCS is expected to absorb about 8,000-odd, and the balance, in the following quarter. Till Q2, the company had absorbed some 1,800 people.
Similarly, Infosys, in its Q2 earnings call, indicated that it would add 20,000 people instead of 18,000 indicated earlier. The additional 2,000 would be partly in BPO while the rest would make up laterals at Infosys Technologies.
Incidentally, Nasscom has urged member companies to recruit those who've completed their eighth semester to ensure that hiring is closer to the need of companies. For this fiscal, Nasscom has projected a mere 4-7 percent export growth. It is likely, that with IT sector showing signs of recovery, Nasscom will review the export target. "We can review the export target by end- December," she added.
McKinsey in its report titled 'Perspectives in the IT industry by 2020', has noted that with the current pace of reforms and expected constraints in talent and infrastructure supply, the exports component of the Indian IT industry is slated to reach $175 billion in revenues by 2020. The domestic component will contribute $50 billion in revenues by 2020, which is larger than the total export revenues for India now.
Agencies
Showing posts with label Mahindra Satyam. Show all posts
Showing posts with label Mahindra Satyam. Show all posts
Monday, November 2, 2009
Wednesday, September 30, 2009
Increase of IT spending by 20-25%, says GE
General Electric (GE) may increase its IT spending by about 20-25 percent for 2010-11, a step that can turn out to be a boon for several Indian information technology (IT) vendors.
Software firms like Tata Consultancy Services (TCS), HCL Technologies, Patni Computer Systems and iGate, who generate a significant amount of revenue from GE, are likely to benefit most from the increase in its IT budget.
A person close to this development said, "GE has allotted an additional $500-600 million for its IT budget during 2010-11. The firm may be looking to extend contracts with vendors like iGate and Polaris by three to four years and significantly increase its spending with large capital firms like TCS and HCL going forward."
GE has already extended its IT contract with Birlasoft, estimated to be worth $50 million and $100 million and with Mahindra Satyam, worth $100 million by three years. The existing contracts for iGate, Polaris Software Lab and Birlasoft will end in December this year.
Agencies
Software firms like Tata Consultancy Services (TCS), HCL Technologies, Patni Computer Systems and iGate, who generate a significant amount of revenue from GE, are likely to benefit most from the increase in its IT budget.
A person close to this development said, "GE has allotted an additional $500-600 million for its IT budget during 2010-11. The firm may be looking to extend contracts with vendors like iGate and Polaris by three to four years and significantly increase its spending with large capital firms like TCS and HCL going forward."
GE has already extended its IT contract with Birlasoft, estimated to be worth $50 million and $100 million and with Mahindra Satyam, worth $100 million by three years. The existing contracts for iGate, Polaris Software Lab and Birlasoft will end in December this year.
Agencies
Saturday, September 26, 2009
IT services deal signed between GE, Mahindra Satyam
Mahindra Satyam today said it has received an extension of its multi-million dollar contract with GE for next three years January 1, 2010.
GE, which is among the top five customers of Mahindra Satyam for over a decade now, gets support in the specialised areas of Application Development Maintenance, Business Intelligence and engineering services, Satyam Mahindra said in a statement.
"We thank the leadership at GE, for having reposed their confidence in us, and reinforce our resolve to excel in our deliverables to our esteemed partner, for years to come," Mahindra Satyam Global Account Executive Arvind Malhotra said.
GE has signed a similar contract with 11 other vendors. "GE recognizes the support extended over the years by Mahindra Satyam, and their commitment to delivery excellence, even during trying times," GE GDC Leader Steve Morrison said.
Satyam management had been in constant dialogue with its major clients, including GE and others to continue working with it.
"Mahindra Satyam has gained 32 new customers in the last four months," a top official had said earlier.
"Some of the large clients we had lost earlier are coming back and are reassigning new business," Atul Kunwar, the company's president of the Middle East, Europe, India and Asia Pacific regions, said on the sidelines of an industry conference.
The company, currently has about 420 clients, he said, compared with 480 in January before it was left battling for survival after Satyam's founder revealed India's biggest corporate fraud.
Satyam was acquired by Tech Mahindra in an auction in April and subsequently renamed. The number of employees the company has on reserve has come down to 7,000 from 8,500 in July, Kunwar said.
"With the business improving and new deals coming in, we have slowly started taking in employees from the virtual pool."
Agencies
GE, which is among the top five customers of Mahindra Satyam for over a decade now, gets support in the specialised areas of Application Development Maintenance, Business Intelligence and engineering services, Satyam Mahindra said in a statement.
"We thank the leadership at GE, for having reposed their confidence in us, and reinforce our resolve to excel in our deliverables to our esteemed partner, for years to come," Mahindra Satyam Global Account Executive Arvind Malhotra said.
GE has signed a similar contract with 11 other vendors. "GE recognizes the support extended over the years by Mahindra Satyam, and their commitment to delivery excellence, even during trying times," GE GDC Leader Steve Morrison said.
Satyam management had been in constant dialogue with its major clients, including GE and others to continue working with it.
"Mahindra Satyam has gained 32 new customers in the last four months," a top official had said earlier.
"Some of the large clients we had lost earlier are coming back and are reassigning new business," Atul Kunwar, the company's president of the Middle East, Europe, India and Asia Pacific regions, said on the sidelines of an industry conference.
The company, currently has about 420 clients, he said, compared with 480 in January before it was left battling for survival after Satyam's founder revealed India's biggest corporate fraud.
Satyam was acquired by Tech Mahindra in an auction in April and subsequently renamed. The number of employees the company has on reserve has come down to 7,000 from 8,500 in July, Kunwar said.
"With the business improving and new deals coming in, we have slowly started taking in employees from the virtual pool."
Agencies
Monday, September 14, 2009
Indian IT firms see return of hiring, salary hikes
Many were predicting six months back that the Indian IT industry would be entering its twilight zone, but now there are indications that these predictions may go wrong. Several IT companies have restarted hiring and are giving salary hikes to their employees.
"That phase of drastic downturn is behind us," says S Ramadorai, CEO of Tata Consultancy Services (TCS). "There's stability now. The deal pipeline is encouraging, but the time it takes to close a deal remains long. And many customers are yet to fully open up their IT budgets," Ramadorai added.
While IT majors like TCS, Wipro and Cognizant have started promotions and salary hikes, Kris Gopalakrishnan, CEO and Managing Director of Infosys feels that things are looking better now, however the company prefers to wait and watch before giving any promotions or hikes, reports The Economic Times.
The recovery of the defamed Satyam Computer Services under the new owner Mahindra Satyam has also proved to be a boon for nearly 28,000 employees across all levels, with the restoration of the variable pay. The variable component is 10 percent at the entry level, 20 percent at the middle level and 30 percent at the senior management level. IT bellwether Wipro has lifted its freeze on hikes and promotions, at least for some employees.
Manpower supply company TeamLease, which saw its open positions drop significantly from 10,000 a month to 800 post-recession, has in the past couple of months seen those numbers rise to 3,500.
With the current trend companies have also started showing more confidence in the Indian market. Information infrastructure company, EMC has announced that it will invest $1.5 billion in India over the next five years, a level of investment from a single company that the sector has not seen in close to two years. Partha Iyengar, Regional Research Director in Gartner India, says the number of calls the company gets from customers for directions and consulting has gone up sharply in the last 3-4 months.
The Indian IT industry was one of the worst hit by the recession on account of its dependence on international markets - especially the U.S. and European markets. The freeze on IT budgets by companies around the world meant that new orders dried up. Industry association Nasscom initially forecast that IT exports would grow by 22-24 percent in 2008-09, but as the recession deepened, this was revised down to 16 percent. For this fiscal, the association has projected a 4-7 percent growth to $48-50 billion.
Agencies
"That phase of drastic downturn is behind us," says S Ramadorai, CEO of Tata Consultancy Services (TCS). "There's stability now. The deal pipeline is encouraging, but the time it takes to close a deal remains long. And many customers are yet to fully open up their IT budgets," Ramadorai added.
While IT majors like TCS, Wipro and Cognizant have started promotions and salary hikes, Kris Gopalakrishnan, CEO and Managing Director of Infosys feels that things are looking better now, however the company prefers to wait and watch before giving any promotions or hikes, reports The Economic Times.
The recovery of the defamed Satyam Computer Services under the new owner Mahindra Satyam has also proved to be a boon for nearly 28,000 employees across all levels, with the restoration of the variable pay. The variable component is 10 percent at the entry level, 20 percent at the middle level and 30 percent at the senior management level. IT bellwether Wipro has lifted its freeze on hikes and promotions, at least for some employees.
Manpower supply company TeamLease, which saw its open positions drop significantly from 10,000 a month to 800 post-recession, has in the past couple of months seen those numbers rise to 3,500.
With the current trend companies have also started showing more confidence in the Indian market. Information infrastructure company, EMC has announced that it will invest $1.5 billion in India over the next five years, a level of investment from a single company that the sector has not seen in close to two years. Partha Iyengar, Regional Research Director in Gartner India, says the number of calls the company gets from customers for directions and consulting has gone up sharply in the last 3-4 months.
The Indian IT industry was one of the worst hit by the recession on account of its dependence on international markets - especially the U.S. and European markets. The freeze on IT budgets by companies around the world meant that new orders dried up. Industry association Nasscom initially forecast that IT exports would grow by 22-24 percent in 2008-09, but as the recession deepened, this was revised down to 16 percent. For this fiscal, the association has projected a 4-7 percent growth to $48-50 billion.
Agencies
Friday, August 28, 2009
Mahindra Satyam BPO on a hiring spree; To hire 300 by Sept
At a time when software firm Mahindra Satyam is rationalising its headcount, its BPO arm seems to be on a hiring spree with plans to recruit 300 employees by the next month.
The company has recently bagged a major contract from a domestic client for providing it back office support.
“To support the client we have already hired 700 employees in the last one month and will hire another 300 by the end of next month," Mahindra Satyam BPO CEO Vijay
Rangineni said.
However, he declined to divulge the name of the new client or the deal size. According to sources, the new win is in the telecom space.
The total headcount of the company after the recruitment would stand at 2,900. Though the parent firm Mahindra Satyam have a considerable presence in the domestic market, this is the first major win by Mahindra Satyam BPO in the domestic space.
Rangineni further said the company would now focus on the sizeable domestic market.
"Post the acquisition by Tech Mahindra, we now have a footprint globally and will leverage the strengths of Tech Mahindra wherever they are present," he said.
Mahindra Satyam BPO has one delivery centre each in Hyderabad, Bangalore, Chennai and Pune. The company, however, do not have a global delivery centre so far.
Agencies
The company has recently bagged a major contract from a domestic client for providing it back office support.
“To support the client we have already hired 700 employees in the last one month and will hire another 300 by the end of next month," Mahindra Satyam BPO CEO Vijay
Rangineni said.
However, he declined to divulge the name of the new client or the deal size. According to sources, the new win is in the telecom space.
The total headcount of the company after the recruitment would stand at 2,900. Though the parent firm Mahindra Satyam have a considerable presence in the domestic market, this is the first major win by Mahindra Satyam BPO in the domestic space.
Rangineni further said the company would now focus on the sizeable domestic market.
"Post the acquisition by Tech Mahindra, we now have a footprint globally and will leverage the strengths of Tech Mahindra wherever they are present," he said.
Mahindra Satyam BPO has one delivery centre each in Hyderabad, Bangalore, Chennai and Pune. The company, however, do not have a global delivery centre so far.
Agencies
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