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Frontline technology companies seem to be more optimistic than industry body Nasscom regarding the prospects of the IT and back-office industry for the next fiscal year.
Top officials of Tata Consultancy Services, Tech Mahindra, Zensar Technologies and Aegis have indicated that their companies could grow faster than Nasscom’s projection of 12-14 per cent rise in export earnings for 2015-16. Sandip Sen, Global CEO of Aegis, the back-office outfit of the $39-billion Essar Group, expects his company to grow at around 20 per cent this year.
“Our business in India and Malaysia may actually grow at over 20 per cent this year. We are seeing tremendous demand for our services from clients in e-commerce, public sector banks and telecommunications sector,” said Sen.
Exuding confidenceN Chandrasekaran, Chief Executive Officer and Managing Director of TCS, too has exuded confidence in the company’s performance for the next fiscal.
“Historically, we have always beaten Nasscom’s projections… We have been seeing growth across markets this year and our client’s budgets are also seeing an upswing,” Chandrasekaran said without providing specifics.
Yesterday, Nasscom said that information technology exports from India may grow at a slower pace in 2015-16 because of macro-economic challenges, geopolitical tensions and currency headwinds.
The industry body has marginally lowered its estimates for IT and back-office services exports to 12-14 per cent for the year ending March 31, 2016, against the 13-15 per cent estimated for 2014-15. For 2015-16, Nasscom expects domestic sales (including e-commerce) to grow 15-17 per cent.
Strong overseas demandGanesh Natarajan, Vice-Chairman and Chief Executive Officer of Zensar Technologies, believes that Nasscom’s estimation is a slightly conservative one. He expects the industry to grow upwards of 15 per cent next fiscal, given the strong demand trends in the US, Europe and Africa.
“The pipeline for Zensar is very strong. We are seeing strong momentum across application service, digital service and infrastructure management,” he said, without providing details.
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