 "Infosys CEO Vishal Sikka during a press conference to announce the first quarter results of the company at its headquarters in Bengaluru")
Despite missing revenue estimates and cutting down revenue growth projection for FY17, India’s second-largest IT (information technology) services company, Infosys, is optimistic of achieving growth targets set as a part of Vision 2020.
“The 2020 vision is a five- to six-year target. It’s a long-term strategic ambition of a company and it should not be impacted by a quarter or even a particular year,” Infosys chief executive officer (CEO) Vishal Sikka told the Business Standard.
Infosys had earlier said it would become a $20-billion revenue company by 2020, with an operating profit margin of 30 per cent and revenue productivity of $80,000 per employee.
Sikka says the company, as well as the sector as a whole, is going through a large-scale transformation process. The firm plans to use artificial intelligence and automation to deliver more work with less human intervention. This, according to Sikka, would unleash creativity and imagination.
“All these, as we have shown in the past two years, are happening. It is starting to pick up steam and starting to make an impact on the business,” Sikka said.
Adding: “Here we augment people with technology so that we enable people to do more from less. In the process, we transform ourselves from a cost-oriented sector to a value-oriented one.”
Sikka said that in the June quarter, but for the misses on the revenue growth estimate front, the rest of the business parameters remained strong. “I am happy with the overall performance of the quarter, but disappointed with the revenue growth.” The company, he said, did extremely well in the core areas of business, be it the renewal of existing areas and new areas that were brought in.
Speaking on the firm’s domestic India business, which has been on the decline in the past few quarters, the Infosys CEO said opportunities out of the increased focus by the government to leverage technology for easing governance were still in the early stages. “A lot of the initiatives like Make in India and Smart City are still early in terms of driving tangible commercial projects and software projects out of that. We do remain excited about the initiatives.”
In the June quarter, Infosys’ domestic India business revenue dipped 7.6 per cent, quarter-on-quarter. This was one of the factors that dragged the company’s overall revenue growth.
According to Sikka, Infosys is doing a lot of work with other software companies, which are working on its platform in many of the smart city-oriented initiatives.
Infosys is also transforming its campus in Mysuru into a smart city by bringing in a lot of efficiency in air conditioning, power efficiency, among others. The company recently announced the 20,000-employee Hyderabad centre, which is entirely run on solar energy generated out of the panels installed in the campus, as a ‘green campus’.
“The 2020 vision is a five- to six-year target. It’s a long-term strategic ambition of a company and it should not be impacted by a quarter or even a particular year,” Infosys chief executive officer (CEO) Vishal Sikka told the Business Standard.
Infosys had earlier said it would become a $20-billion revenue company by 2020, with an operating profit margin of 30 per cent and revenue productivity of $80,000 per employee.
Sikka says the company, as well as the sector as a whole, is going through a large-scale transformation process. The firm plans to use artificial intelligence and automation to deliver more work with less human intervention. This, according to Sikka, would unleash creativity and imagination.
“All these, as we have shown in the past two years, are happening. It is starting to pick up steam and starting to make an impact on the business,” Sikka said.
Adding: “Here we augment people with technology so that we enable people to do more from less. In the process, we transform ourselves from a cost-oriented sector to a value-oriented one.”
Sikka said that in the June quarter, but for the misses on the revenue growth estimate front, the rest of the business parameters remained strong. “I am happy with the overall performance of the quarter, but disappointed with the revenue growth.” The company, he said, did extremely well in the core areas of business, be it the renewal of existing areas and new areas that were brought in.
Speaking on the firm’s domestic India business, which has been on the decline in the past few quarters, the Infosys CEO said opportunities out of the increased focus by the government to leverage technology for easing governance were still in the early stages. “A lot of the initiatives like Make in India and Smart City are still early in terms of driving tangible commercial projects and software projects out of that. We do remain excited about the initiatives.”
In the June quarter, Infosys’ domestic India business revenue dipped 7.6 per cent, quarter-on-quarter. This was one of the factors that dragged the company’s overall revenue growth.
According to Sikka, Infosys is doing a lot of work with other software companies, which are working on its platform in many of the smart city-oriented initiatives.
Infosys is also transforming its campus in Mysuru into a smart city by bringing in a lot of efficiency in air conditioning, power efficiency, among others. The company recently announced the 20,000-employee Hyderabad centre, which is entirely run on solar energy generated out of the panels installed in the campus, as a ‘green campus’.
