TCS hopes to grow by over 11 per cent

KOLKATA, INDIA: The country's largest software services exporter, Tata Consultancy Services (TCS), is hoping to report a higher growth than 11 per cent predicted for the entire industry by NASSCOM for the year 2012-13, a top company official said on Thursday.

"Although NASSCOM has predicted a growth figure of 11 per cent for the industry, we hope to exceed that figure during 2012-13," TCS chief financial officer and executive director S. Mahalingam told reporters here.

He said the budgets of the company's clients may considerably increase in the near future.

"What they (clients) spend on outsourcing may considerably increase, though the spending components may change. They can spend less on hardware and more on services. We do not find a gloomy picture at this point of time," said Mahalingam.

The company has around 1,041 active customers at present. "Today we have 14 customers who spent more than $100 billion with us," he said.

He said the lion's share of the company's revenue comes from exports with only around 10 per cent coming from domestic business.

"About 52 per cent comes from North America, 15 per cent comes from UK. Asia Pacific is 4.5 per cent, and rest from few other countries," added Mahalingam.