Tech Mahindra on track to touch $5-bn revenues by FY17

Executive Vice Chairman Vineet Nayyar says acquisitions were always static and strategic in nature and were not aimed at getting more revenues

Tech Mahindra, the country’s fifth largest software services company, which reported just over $3 billion in revenues for the fiscal ended March 2014, is on track to garner revenues of $5 billion by FY17, said executive vice chairman Vineet Nayyar.

“As far as business is concerned, there is growth. And, the outlook is positive. There is a possibility that we will reach that number,” he told mediapersons here on Friday.

On the company’s merger and acquisition plans, Nayyar said their acquisitions were always static and strategic in nature and were not aimed at getting more revenues. “As and when some strategic opportunities are available, we will certainly go for them,” he said.

Stating that the extension of the offset clause to civil aviation would obviously be a help to Tech Mahindra as it had a significant practice in avionics, Nayyar said the company was always in continuous dialogue with the government in sorting out legal issues (related to Satyam) that it was currently facing. “And, if the government (new) sees the way we see it, then hopefully there will be a solution,” he added.

MEC to collaborate with industry
Mahindra Ecole Centrale (MEC), an engineering institute established through a three-way collaboration by Mahindra Group, French varsity Ecole Centrale Paris and Jawaharlal Nehru Technological University-Hyderabad, today organised an industry-academia connect programme to bring the best French and Indian companies on to a single platform for long-term collaborations in the field of research and development.

“Around 20 French and Indian companies, including Biomerieux, Michelin, Renault, BHEL, M&M, Saffron, Vallourec and TCS are part of this programme, which also aims to foster lasting industry-academia synergies in order to bridge the gap between industry expectations and engineering output,” Nayyar said.

The preliminary interest that the French companies have shown is indicative that those would lead to long-term collaborations. MEC would sign MoUs with some of them, he added.