Buoyed by large deals, Hexaware eyes up to 7.5 pc growth in Q3

MUMBAI: IT major Hexaware Technologies is aiming for 7.5 per cent growth in the third quarter on the back deals worth USD 200-million signed in the last quarter, a top company official said.

"We bagged two large deals in the last quarter, one of USD 110 million and another of USD 60 million. Totally, we bagged deals worth around USD 200 million, which makes us confident of growing encouragingly in the third-quarter and this fiscal as a whole," Hexaware Technologies' Chairman Atul Nishar told PTI here today.

The company's financial year begins in January and ends in December.

Hexaware reported a dip in profits to Rs 14.4 crore in Q2 FY 11, primarily on account of unfavourable currency movements and a wage inflation of 15 per cent to off-shore employees.

"We also committed initial investments towards the smooth commencement of a large deal signed by us," he said.

The company clocked a revenue of Rs 251 crore, up 13 per cent from the previous quarter's Rs 221 crore.

The signing of the USD 110 million deal with an existing Fortune 500 customer would give the company recurring revenues of USD 20 million annually, he said.