The company's total income stood at Rs 5,821 crore, showing an over six per cent rise, at the end of the September quarter of the current fiscal.
Infosys Technologies Ltd announced on Tuesday its selection as Best Outsourcing Partner by readers of Waters, a leading publication covering the needs of chief information officers in the global capital market firms.
The Mumbai terror attacks have once again put Indian IT and business process outsourcing firms on high alert. Over the next four to five weeks, many of these firms plan to meet or video-conference with their clients to update them of the country's security scenario.
Reader Girish spotted Nagavara Ramarao Narayana Murthy, better known as N R Narayana Murthy, one of the seven founders and now the chief mentor of Infosys Technologies, at the Indian Institute of Management, Bangalore in April 2008.
"Employees who have been consistently demonstrating poor performance were counselled out. Less than 1 per cent of our 11,250 employees in Chennai and 11,496 employees in Hyderabad have been impacted. As for the Thiruvananthapuram centre, less than 1 per cent of the 1,800 employees were impacted," said Mohandas Pai, member of the board, director, human resources, Infosys Technologies.
ISB has introduced this concept, christened "Shadow a CEO", to mobilise funds for charity and allow its students to work with the Who's Who of India Inc for a day. Some 16 CEOs have agreed to participate. "We not only want to put the money generated for benefit of the society, but also let our students experience the joy of operating with a CEO for a day," said Ajit Rangnekar, Dean of ISB.
Nandan Nilekani, erstwhile CEO and a founder of Infosys Technologies Limited, who is currently co-chairman of its board of directors, offered a peek into his forthcoming book Imagining India, which he said attempts to alleviate a gap in understanding India, while delivering the kick-off Global Leader Lecture at Johns Hopkins University's School of Advanced International Studies.
Within the IT industry, reactions to Barack Obama's historic victory have not been as pessimistic as expected. IT firms have been worried because Obama, as Senator, introduced the Patriot Employer Act of 2007 that gave tax credits for companies that maintain or increase the number of full-time workers in America relative to those outside the US.
In what will be the first such comprehensive exercise in the IT industry, all the 91,000-odd employees of India's second-largest IT services provider, Infosys Technologies, will now have to pass certification programmes to get promoted. The certification programme, conducted every March, is now being extended across the board and will test the employees' domain expertise, and grade them accordingly to be eligible for promotion.
Top Indian IT company Infosys Technologies will conduct knowledge transfer training courses for Malaysian lecturers through a Campus Connect Programme.
The UID will be used just for verifying someone's identity. It would be a 'yes', 'no' kind of an exercise. If someone's identity needs to be verified, only then these numbers will come in handy, says the UIDAI boss.
With prominent Indian IT companies such as Tata Consultancy Services (TCS), Wipro, Infosys Technologies, Zensar Technologies and Satyam Computer Services increasing their presence in Japan, the world's second largest IT services market is becoming a lucrative market for India.
Infosys, one of the biggest employers in the country, has said that all general hiring in the company has come to a standstill as business has slowed down considerably. Though Nilekani did not give out any numbers, it is understood that the Nasdaq-listed company is resorting to need-based recruitment, had made offers to 18,000 students of the 2009-10 batch from different campuses.
The combined assets of the top five - Tata Consultancy Services (TCS), Infosys Technologies, Wipro, HCL Technologies and Tech Mahindra were down one per cent to Rs 27,7400 crore at the end of 2017-18, from Rs 28,0100 crore a year before.
Infosys Technologies Ltd allotted 179 equity shares of par value of Rs 5 to Bankers Trust Co, New York, the depository of company's ADRs
On a sequential quarter on quarter basis, the net profit has moved up by 2.6 per cent while the topline grew by 3.5 per cent.
The 'S&P India 10 index' is designed to address this accessibility challenge. It offers investors liquidity and investability, and can also serve as a basis upon which to create investment products," Vice President of Portfolio Services for S&P Steven Goldin said.
Infosys Chairman Narayan Murthy equated the present economic crisis in the US to the Great Depression. "The present crisis in the US reminds me of the 1929 depression. More signals are emanating of the 1929 depression than the 70s' one. I have a suspicion that it (the present crisis) could be a longer one," he said. A recovery from the present crisis may take longer than 18 months, he said.
A slowdown in the global economy and sub-prime crisis in the banking, financial and insurance services sector, its major revenue earners, force the domestic IT industry to take a relook at its hiring strategy.
The strategic buyout of Axon will increase Infosys' share in the high-growth SAP segment and consolidate its position in Europe.
Indian IT (information technology) firms are not unduly worried about the rupee rising against the dollar, at least for now.
India's second-largest IT services provider Infosys Technologies has hired recruitment services provider MaFoi to help its employees who fail to pass the final test to gain employment elsewhere.
The subsidiary, Infosys Technologies S. De RL De CV, will provide business consulting and information technology services for clients in all industries
Faced with imminent recession in the United States, Indian IT services companies might take this step from April 1, 2008.
Training a person for 16 weeks (4 months) in the US costs something like $50,000 (around Rs 21.25 lakh). However, the education system is much better in the US. So we provide short-term training courses of about 15 days for new recruits there
Indian IT firms have started mining smaller clients with more fervour given that the revenue accruring from their top clients has been declining due to the US slowdown and the sub-prime crisis. Consider this. Revenue accruing from the top clients of the five leading IT firms by revenue - Tata Consultancy Services, Infosys Technologies, Wipro Technologies, Satyam Computer Services and HCL Technologies - dropped by anywhere between 0.2 per cent and 4 per cent
Infosys Technologies Ltd announced on Friday it has been positioned by Gartner, Inc., in the leaders quadrant in the 'Magic Quadrant for North American offshore applications services 2007' report.
Infosys Technologies generates over 60 per cent of its revenue from the US, which is witnessing a slowdown. A falling rupee did help the company tide over the quarter, and S Gopalakrishnan (popularly addressed as Kris) says that new opportunities, geographies and centres of excellence will have to be balanced against billing cycle delays and other pitfalls of the market.
A McKinsey study on the last slowdown of 2001-2002 showed the companies that emerged successfully from the downturn were those that used their cash, did lots of mergers and acquisitions, and stepped on the accelerator.
This is the first time that the company has acquired land on its own without seeking the assistance of the state government's land acquisition agency, Karnataka Industrial Area Development Board.
Infosys Technologies plans to set up five SEZ in Tier II cities -- Mysore, Bangalore and Thiruvananthapuram.
The last couple of months have dealt a severe blow to IT firms, which has even prompted the top listed Indian IT services providers to inform investors that they need to scale down their growth expectations from the sector that, on an average, has been growing almost 30 per cent year-on-year.
India's second largest software and services exporter Infosys Technologies is keen on acquisitions in Europe and Japan and in the areas of consulting, SAP implementation and BPO. Senior officials of the company said that they would be comfortable with a deal size of $600-700 million (around Rs 2,930-3,420 crore).
"There will be no layoffs in the Indian context and, as said before, we will be recruiting 25,000 people gross. We will make our people prepared for the upturn, which will happen. We are focusing on recruiting people and training them. We are focusing on education as this is a great opportunity to make a positive brand and image for the company. We are still seeing opportunities in the market," said Kris Gopalakrishnan, CEO, Infosys.
In the current fiscal (2009-10), the company expects that this may further go down to about 50 per cent. "In fiscal 2010, we expect the variable pay for the senior management to be less than 58 per cent," said Infosys head of HR, education and research T V Mohandas Pai. He is also a member on the Infosys' board. Variable component is as high as 50 per cent in the total pay packet of the senior executives whereas the fixed component constitutes the other half.
The impact of the global meltdown has forced India's second largest IT bellwether Infosys Technologies to freeze wage hikes and hiring in new fiscal 2009-10.
Sanjay Purohit, associate vice president & head, corporate planning, Infosys Technologies Ltd, talks about the role played by his company to encourage social entrepreneurship in India and how this initiative is gaining momentum within the company.
In fact, firms like NIIT Technologies and EXL Services are already reaping the benefit of the first- mover advantage with over 20 per cent of their revenues coming from non-linear business in the quarter ended September 30. A non-linear business' focus moves away from the tendency to measure growth on the basis of headcount or the concept that the more the number of people working, the more the revenue.
The award has been instituted by the Palladium Group Inc, a leading global professional services firm that enables companies to better measure and manage performance using the BSC approach, Infosys said in a statement.
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