IT major Tech Mahindra on Monday said it expects to outgrow Nasscom’s industry growth projection and may touch $5-billion mark in revenues during the current fiscal.

Noting that there is a skill gap among employees, CP Gurnani, Managing Director and Chief Executive Officer of Tech Mahindra, also said the company is geared up to reskill about 50,000 employees for the present and future requirements.

“We will beat the Nasscom projections.

“We are already at arun rate of $4.5 billion and we are growing more than 6-8 per cent....You do the maths. For 2018, I think we should be (at $5 billion),” Gurnani told PTI.

The company’s revenues during the last fiscal were $4,351.1 million, up 7.8 per cent year-on-year.

In rupee terms, it was ₹29,141 crore, up 10 per cent YoY. The revenue from operations was up 6.1 per cent to ₹7,606.38 crore during the second quarter of the current year while the growth was 6 per cent at ₹7,336.1 crore in the first quarter.

Reskilling

To a query, he said there is a need to reskill employees in emerging fields such as augmented reality, virtual reality and artificial intelligence.

“There is a skill gap. For Tech Mahindra, my biggest priority is to reduce the skill gap and invest in training, reskilling and creating the jobs that the new digital world is throwing up.

“So to tell you honestly, I need to reskill at least 50,000 people over the next one year because the market is ready. We need to create the skills.”

Reskilling is an ongoing process, but the “urgency is very high,” he said.

Declining to reveal his company’s hiring plans, Gurnani said the net addition was 10,000 last year.

The company currently has a headcount of 1.20 lakh.

Tech Mahindra opened up new markets in Latin America and Europe, Gurnani said, adding that though there is not much business from the West Asian market, the situation there is “uncertain”.

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