MUMBAI/BANGALORE, INDIA: Infosys Technologies Ltd, India's No. 2 outsourcer, is pursuing 12 to 15 outsourcing deals and was getting work as mergers and acquisitions activity picks up around the world, its chief executive said on Friday.

It was also looking at acquisitions of companies with revenues of about $400 million, Kris Gopalakrishnan said. He said Infosys is looking at acquiring three-four companies in Japan and Germany. However, this would be on the basis of concrete goal.

Ten years from now, Infosys would be more of a delivery model in utility, which would be  a good mix of consultative, traditional services and products. And this mix could provide be one-third contribution each, he added.

Kris also agreed that Infosys have lost a major client during the reporting quarter. “Yes, we lost a 30 million dollar client,” he said.

The Infosys CEO said the four co-founders of the company have collectively contributed Rs..10 crore to rebuild houses for the victims of flood havoc in north Karnataka recently.

Responding to the Karnataka government's call for humanitarian support by the IT industry, Infosys has taken the lead to rebuild 3,000 houses at a cost of Rs..100,000 each.

Meanwhile, director – HR Mohandas Pai said Infosys doesn't pay vulgar salaries. He was responding to the recent advice by Union Corporate Affairs Minister Salman Khursheed, asking companies to refrain from “vulgar” salaries.

Rising rupee a big concern

Infosys CFO V. Balakrishnan said the rise of the rupee against the dollar is a big concern.

"In the short term it could appreciate," Balakrishnan told reporters after the outsourcer reported a 7.5 per cent rise in quarterly net profit and raised its full year forecast as demand for outsourcing grows and pricing pressure eases.

The rupee has jumped nearly 13 per cent from its record low in early March, helped largely by rising foreign equity inflows.

"This kind of volatility is not good for the country," Balakrishnan said.

Shares turn negative

Shares in Infosys turned marginally negative on Friday after earlier rising as much as 3.7 per cent after the firm reported a rise in quarterly profit just above market expectations and raised it full-year forecast.

At 1 p.m. IST, the shares were down 0.08 per cent at 2,209.50 rupees in a Mumbai market down 0.7 percent. Infosys shares started 2 percent higher and rose to a high of 2,293.65 rupees.

(With inputs from CIOL Bureau)