Infosys on track for industry-leading growth in FY17: Vishal Sikka

BENGALURU: India’s second largest software exporter Infosys is seeing faster-than-ever growth in large customer accounts and is generating an average quarterly pipeline of $800-900 million from large deals, chief executive Vishal Sikka said on Thursday, while reiterating his earlier forecast that Infosys would return to industryleading growth in FY17.

During an investor conference in San Francisco, Sikka said that for the first time in many years growth from large customer accounts is outpacing growth from the rest of the company.

Infosys counts the likes of Bank of America and Apple among its largest customers.

“Our growth in large accounts is quite encouraging. We have outperformed for the first time in many years, our large account growth rate has exceeded the growth rate of the company, which is quite encouraging. Our deal wins have improved dramatically and we’re approaching $800-900 million a quarter in large deals. That’s more than double of what we used to do,” said Sikka, who last week was rewarded with an extended tenure as CEO and a big pay jump following Infosys’s forecast-beating performances during the last three quarters.

Infosys, which as part of Sikka’s broader vision, is aiming to become a $20-billion company by 2020, also will not sacrifice margins to chase growth, Sikka said.

“We don’t believe in sacrificing margins for growth. We are on track to get to industry-leading growth in the next financial year. We want to be a global leader in the new kind of IT services,” said Sikka.

“The renewal is growing well. And the bulk of the growth is coming from Renew and is going to continue coming from renewin the near to midterm,” he added.