TCS eyes $10 b mark by 2010

MUMBAI: Tata Consultancy Services (TCS) has become the first Indian IT company to cross the one-billon mark. The company has posted total revenue of Rs 5,012 crore–up from the previous year’s Rs 4,187 crore ($880 million) during FY 2002-03.






The year also saw TCS increase its manpower strength substantially from 21,224 during March 2002 to 25,000 at the beginning on this month–5,000 of them being deployed onsite. However, the company could not hold back its sliding growth rate triggered by a significant fall in billing rates and the tough market conditions.





The company has been witnessing decline in growth–from 55 per cent in 2000-01 to 33 percent in 2001-02 and 20 percent during 2002-03. The onsite and offshore revenues break-up is 66 percent and 34 percent respectively.





The domestic and export revenue clocked Rs 4,914.33 crore wherein domestic and exports contributed Rs 369.07 crore and Rs 4,545.26 crore respectively.





Major chunk of revenues came from BFSI sector wherein domestic market contributed Rs 149.05 core and exports Rs 1373.66 crore.





Products is the only segment where the domestic market dominated —Rs 80.87 crore and exports around Rs 5.74 crore. The government sector contributed Rs 21.35 crore in the domestic market while Rs 86.81 crore was from exports.





The company has generated Rs 32.46 crores from domestic IT and Telecom sector while exports contributed Rs 652 crore. The company is now aiming to achieve the $10 billion mark by 2010.





A division of Tata Sons Ltd, TCS offers products and services in architecture and technology consulting, engineering services, e-business, application development, security, large projects, quality consulting and infrastructure development, across verticals such as banking, financial services, insurance, retail and distribution, telecom, manufacturing, transportation, life sciences and healthcare, government and utilities.





The company has over 1,000 global clients including eight of the US Fortune 10 companies.