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TCS expects $10 billion revenue by 2010
By agencies
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Friday, 30 June 2006, 19:30 IST
MUMBAI: The country's top software exporter Tata Consultancy Services expects a five-fold increase in its revenues over the next four years to touch $10 billion in 2010.
Addressing the Annual General Meeting of the company, Tata group chairman Ratan Tata said, "We aim to become among the top ten (IT companies) by 2010 with revenues touching $10 billion over the next four years". During the last fiscal, TCS revenues stood over $2 billion and will add around 30,000 employees during the year.
As part of expansion programs, TCS would spend $ 100 million (Rs 1,000 crore) towards real estate development, which includes setting up of campuses in various parts across the country and Rs 300 crore would go for technological expansions
TCS, Tata said, would continue to grow around 28-30 per cent during the year, slightly above the growth rate, predicted by the industry body, NASSCOM.
Remarking that 37 out of 50 subsidiaries of TCS were making profits he added that there is no necessity to merger these firms with TCS, as subsidiaries can register a better growth.