Wipro Infotech gains significant traction

While Infosys has been shying away from focussing on India as a market, and MNCs like IBM and HP are increasingly tapping into the Indian market to derive over $1 billion in revenues, Wipro's strategy to have a separate business unit dedicated to explore opportunities in the Indian markets as well as some key Asian markets has been paying good dividends.

Wipro Infotech, the India, Middle East & Asia Pacific IT services & products business, has recorded revenues of Rs 931 crore for the second quarter ended September 30 , 2007, a growth of 72% year-on-year and Profit before interest and tax of Rs 69 crore, a growth of 48% y-o-y. According to information available, the business unit, within the next few quarters, is expected to be a $1 billion unit.

Services business contributed 31% to total revenues during the quarter and grew 40% y-o-y. Wipro officials added that the funnel for large outsourcing contracts and integrated deals is very healthy across India and the Middle East.

Wipro Infotech, during the second quarter, won orders including a comprehensive SAP implementation project at ITC, e-commerce platform creation for Future E-Commerce Infrastructure, People Soft HRMS implementation at J&K Bank, infrastructure integration projects for BSNL, Indian Overseas Bank and Bhilai Steel Plant.