Indian IT Firms

FY24 revenue growth may decline by 700-900bps: CRISIL Ratings

The SVB collapse has alerted hundreds of Indian investment and tech companies. They came together to help each other and share knowledge to deal with the impact

Managed flexible workspace provider Simpliwork Offices is planning to invest Rs 750 crore next fiscal to expand its portfolio and raise up to Rs 2,800 crore in equity and debt for future growth. Founded in 2018, Bengaluru-based Simpliwork Offices currently has an office portfolio of around 4.2 million square feet, roughly 50,000 desks, across major 8 cities. Salarpuria Sattva, one of the leading real estate firms in the country, with a large presence in the office market, has a 50 per cent stake in Simpliwork Offices. Kunal Walia, the founder and CEO of Simpliwork, along with some other investors, holds the remaining stake. In an interview with PTI, Walia noted that the leasing of flexible office space rose during the 2022 calendar year, and demand continues to be strong from large enterprises. The overall leasing of office space crossed 45 million square feet last year, after two years of slowdown due to the COVID pandemic, he highlighted. "Specifically, within that demand, we h

Industry veteran T V Mohandas Pai has said startups which do almost all their business in India and have all their employees here should resist any pressure from large investors to domicile outside, as the former Infosys director and chairman of Aarin Capital cited key lessons to be drawn from the collapse of Silicon Valley Bank. Pai advised founders of India-centric startups "to be careful" and "not get carried away" by investors who force companies they fund, to domicile in the US and open bank accounts there as well. Pai said Silicon Valley Bank was a startup-friendly bank and its collapse is a "blow" to the startup ecosystem. "Just how big is the blow, is something that we have to watch from startup to startup, and founder to founder," Pai told PTI. He added that the exposure of Indian startup ecosystem to Silicon Valley Bank is not too high. Pai has a word of advice for entrepreneurs and founders -- startups whose businesses are centered around India and have very little to do

IT services company Tech Mahindra on Friday said it will invest up to Rs 700 crore in the newly carved out division of products and platforms in the next two years. The Mahindra group company is already present in the products and platforms business with its acquisition of the telecom sector-focused Comviva and other offerings which are delivering an annual revenue run rate of USD 450 million, company's chief executive and managing director C P Gurnani said. In the next two-three years, we are aiming to take the revenue from products and platforms to USD 1 billion, he told PTI in a virtual interaction in Pune after making the announcement about the new division at 'investor day'. The investment in the new division, to be led by Gurugram-headquartered Comviva's team, will be Rs 500-700 crore over the next two-and-half years, Gurnani said. The Comviva team, which also has presence in Bhubaneswar and Bengaluru, has been tasked with leading the entire products and platforms play,he ...

The software and IT services segments are projected to grow 9.3 per cent and 5.5 per cent in 2023, respectively

Accenture retains top slot for the fifth year straight; Cognizant and Wipro fall in rankings

Sideloading is a way for app developers to load their applications without going through formal stores such as Google Play for Android phones or the Apple App Store for iPhones

Staff forced to log manually, as patients grapple with test delays

'Ups and downs' in global economy will not impact Indian industry for long, he says

Ongoing investments in 99acres amid rising competition may hinder profitability

The IT and business services market in the country was valued at $7.15 billion between January and June 2022, according to IDC

Both by sacking employees for moonlighting and insisting they turn up to the office daily, employers disregard both productivity and employee morale

VV Apparao, who has worked as the company's Chief Human Resources Officer (CHRO) since 2017, will now take over as the chief delivery officer for nearshore.

European clients, which typically account for a quarter to a third of Indian firms' sales, are almost certain to cut their tech budgets - at least until the war in Ukraine comes to an end

The packages of freshers have increased marginally, by 20 per cent, since 2010, while the packages of CXO-level employees have gone up by 70-90 per cent

Analysts underscored that Accenture's August quarter (Q4FY22) results reflected softening of demand for IT services, and thus remain 'cautious' on the sector

India's best-known IT firms and startups have asked staff to work from home as torrential rains brought chaos on streets of the technology hub, marooning roads and snapping water and electricity supplies. While parts of the city that houses several global companies and home-grown startups, were under water, operations in IT firms and startups were largely unaffected as most of them had power backup and a hybrid work environment where some employees logged in from home. But some of the posh housing colonies were flooded and tractors were pressed into service to rescue residents. As rains disrupted traffic and threw lives out of gear, footages of IT workers travelling in tractors to reach workplace amid heavy waterlogging in the city, also surfaced on social media platforms. "All our associates at Bengaluru are safe. We are closely monitoring the situation and our delivery teams have been advised to exercise due caution," a spokesperson of Tata Consultancy Services (TCS) said. It ..

IT firms now have started to clamp down on such activities, as the companies think moonlighting affects employees' productivity and creates conflicts of interest

IT services firms are freezing or cutting staff bonuses, worried that tightening budgets at U.S. and European clients who are bracing for a recession will sharply hit their own profits