"We are seeing deal closures in Europe, which essentially means there will be good growth in coming quarters," N. Chandrasekaran said. "The main thing is we are not seeing any shocks or slowdowns in our customer portfolio."
TCS and second-ranked Infosys are part of India's $76 billion technology services industry, serving clients in the United States and Europe, their biggest markets. Their larger competitors include Accenture Plc and IBM Corp.
TCS on Tuesday met market estimates for third-quarter net profit as it won new outsourcing orders, while a weaker rupee boosted margins.
Infosys on January 12 cut its dollar sales forecast for the fiscal year ending March, citing potential order delays and cuts to clients' technology budgets due to the European debt crisis.
Shares of TCS, which has a market value of about $42 billion, were trading 3.3 per cent lower at 1,067.4 rupees at 11:39 a.m.