Earlier this month, Accenture had reported strong results for the quarter ended November (Q1FY22) and upgraded its annual guidance by a massive 700bp as it continues to gain from demand for Cloud transformation. Its commentary on broad based demand (by region/verticals/deal size) and record high bookings (USD16.8b) should be seen as an indication of the stickiness in the demand environment for IT Services. The upgrade in Accenture’s FY22 guidance and strong headcount addition provides visibility of the growth momentum in Indian IT Services.
Meanwhile, Tech Mahindra remains confident of delivering double-digit organic revenue growth in FY22, given broad-based demand, strong deal wins, improving win rates and steady progress on client mining. Half or 50 per cent of Tech Mahindra’s revenues come from telecom service providers, and the telecom ecosystem.
Tech Mahindra has a comprehensive growth strategy in place to capitalize on 5G opportunities, encompassing CSPs (CX, Network, Digital OSS/BSS), Enterprises (Industry solutions, private networks, Edge intelligence) and Ecosystem (Network platforms, Device platforms) by leveraging products, platforms, people and partnerships.
5G is causing metamorphosis of the industry across the metaverse (co-evolution of physical and virtual world), sensors (25bn sensors devices expected by 2025) and open 5G. 5G is expected to create business opportunities worth $712 billion across industries by 2030, analyst at Emkay Global Financial Services said in a recent note on the company.
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