TCS aims to scale up presence in China, Latin America, Europe
Tata Consultancy Services (TCS) Thursday said it is looking at significantly expanding footprint in China, Japan, Latin America and Europe to tap opportunities.
New Delhi: Country's largest software services exporter Tata Consultancy Services (TCS) Thursday said it is looking at significantly expanding footprint in China, Japan, Latin America and Europe to tap opportunities.
"The challenge before us is to scale up our presence significantly in geographies like China, Japan, Latin America, Europe and the Middle East," TCS CEO and MD N Chandrasekaran said in an interview to Tata Group website.
There are plenty of opportunities in all these markets and TCS aims to address them, he said, adding that with presence in 44 countries, the software services major has the "right global footprint".
On business coming from Europe, he said it is expected to grow faster as customers are beginning to spend more. "The budgets are looking good; we are winning lots of transformation deals in Europe," he said.
In 2011-12, revenue from North America constituted 53.31 percent of company's total revenues, while UK and Europe accounted for 25.32 percent, followed by India (8.60 percent), Asia Pacific (7.56 percent), Middle East and Africa (2.13 percent) and Latin America (3.08 percent).
On banking, financial services and insurance (BFSI) vertical, which contributed 43.08 percent to the revenues in 2011-12, Chandrasekaran said the vertical is "beginning to pick up momentum".
"We were particularly happy with the BFSI sectors in the second quarter. Not only have we delivered 4.6 percent growth in rupee terms in the segment sequentially, but we have also closed four deals, including one from insurance," he said.
Chandrasekaran added that TCS is seeing a "lot of opportunities" in retail, consumer products and pharmaceutical segments as well.
Telecom, media and entertainment accounted for 12.69 percent of the company's Rs 48,893.83 crore revenue in 2011-12, while retail and consumer packaged goods contributed 12.18 percent and manufacturing 7.77 percent of sales.
Chandrasekaran said evolution and fast adoption of technologies like cloud, analytics, big data and mobility also hold a lot of promise.
"Every industry process framework is being redefined and re-imagined by the impact of these technologies. Their use is not limited to just the enterprise; they are impacting our personal and social lives," he said.
This trend is throwing up huge opportunities as companies want to optimise investments in current technology, drive growth by using digital technologies and platforms, comply with new regulations, and control new risks more effectively, he added.
Shares of the company Thursday closed at Rs 1,248.40 apiece, up 1.27 percent from its previous close on the BSE.