Infosys Technologies Ltd [Get Quote] will focus more on India and some key overseas markets as it seeks to reduce dependence on North America as part of its strategy to de-risk business in the wake of the rapid fall of dollar.

North America accounted for 62.3 per cent of the total revenues of the country's second-biggest software exporter in the October-December quarter of 2007-08. Europe made up 28.6 per cent, India 1.2 per cent and other nations 7.9 per cent.

The Nasdaq-listed firm's chief financial officer, V Balakrishnan, said rupee has appreciated by around 14 per cent in the last one year, impacting the company's operating margins by seven per cent.

"We have lost around Rs 2,100 crore (Rs 21 billion) for the full year because of rupee appreciation as compared to last year," Balakrishnan told a press meet.

Infosys CEO and managing director, S Gopalakrishnan, said the company is looking to grow more in Europe, Japan, Australia, Latin and South America as well as India.

"We are actually casting our net far and wide so that there is much more balance in currency," he said, adding the move is a "hedge" against appreciation of the rupee. Chief operating officer S D Shibulal said the company would develop India-specific solutions and applications.

Gopalakrishan said: "We are approaching the (Indian) market through system integration, through platform-based services."

He said the idea is to generate revenue through a volume and transaction-based model. Infosys is confident of getting a good margin on its business in India.

• Infosys Q3 net up 25% at Rs 1,231 cr
• Infosys adds 27,000 employees in FY'08 so far