Tcs Eyes $1b Sales From Europe, Opens Demo Centre In Amsterdam

Software major Tata Consultancy Services (TCS) aims to quickly notch up $1 billion sales from Europe alone. "In the past six years, we doubled sales from the continent every two years, which reached $689 million in 2000," said S Ramadorai, chief executive officer, TCS.

Towards this, the company has opened its first demonstration centre in Amsterdam, The Netherlands.

The facility will be used for presenting TCS's products and services to potential clients.

"We are responding to the growing demand in the European market for our products. The Netherlands will serve as our basis for expansion to other markets in Europe," Ramadorai said.

Until now, he said, TCS invited interested parties to come to India to see its products in action.

TCS has major Dutch corporations such as KLM Royal Dutch Airlines, ABN Amro Bank, Nuon and ING Group as some of its main clients in Europe.

Ajit Sawant, vice-president, TCS, and in charge of the company's European business, said, "We decided to establish the demonstration centre in Amsterdam due to its proximity to Germany, the Benelux countries etc. Netherlands also serves as a good regional hub as it is one of the fastest growing countries in continental Europe."

TCS' revenues increased from Rs 2,115 crore in financial year 1999-00 to Rs 3,142 crore during 2000-01.

While the profit figures are not available, TCS officials earlier said that the profits increased by more than the industry average of 30 per cent. The US alone accounted for 60 per cent of TCS' revenues in the last fiscal, while 24 percent was from Europe.