$10-bn revenue by 2010 achievable: TCS
"2010 is sometime away. We have had a CAGR of over 30 per cent. We can achieve it," said CEO TCS.
By PTI |
NEW DELHI: Software services provider, Tata Consultancy Services, is aiming to end the current fiscal with $4 billion in revenue, which will require a growth rate of 30 per cent over the next two quarters.
"We have a target to achieve $4 billion in revenue by the end of this fiscal growing at 30 per cent and for the last five years we have been growing at a compounded annual growth rate of over 30 per cent," S Ramadorai, Managing Director and CEO TCS said on the sidelines of a Nasscom Conference. The TCS scrip was trading down 1.3 per cent at Rs 1143.
TCS, a Tata Group company ended the fiscal 2006 with a revenue of $3 billion. Consolidated revenues of TCS for the year 2005-06 was Rs 13,386.23 crore ($3 billion).
On the Vision 2010 target of $10 billion revenue, the company hopes to be able to touch it. "2010 is sometime away. We have had a CAGR of over 30 per cent. We can achieve it," he said.
Earlier, the Tata Group company had won a $90 million Qantas deal. It is a seven-year deal and the largest ever for an Indian IT company in Australia. Satyam also won this contract along with TCS.
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But with Australia's airline Qantas receiving a takeover approach from the Australian investment bank Macquarie Bank and Texas Pacific, it is still early for a clear picture to emerge, to take a final call on this deal, according to an analyst.Download
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