Page 3 - Indian It Firms

Analysts expect turnaround for IT firms with growth recovery, higher margin

While revenue growth for the companies represented in Nifty IT Index could be at an annual rate of 8.5 per cent over FY24-27

IT firm Ahead opens new office in Hyderabad, set to hire 500 staff by 2025

IT company Ahead has launched its new office in Hyderabad, where it plans to onboard 500 people by 2025, the company said on Thursday. It has already set up a delivery office in Gurugram last year, where it has 400 employees. "We are thrilled to announce our expansion into Hyderabad, a city renowned for its dynamic tech ecosystem and exceptional talent pool. "The talent pool located in Hyderabad complements our existing talent base in North India, enabling AHEAD to better meet client needs, especially on larger services engagements," Ahead India, Vice President and Managing Director Praveen Grover said in a statement. The company plans to increase its headcount to 750 this year and complete the hiring of 500 employees in Hyderabad by the end of 2025, Grover said. "By the end of next year, Ahead aims to hire over 500 employees in Hyderabad, leveraging the city's rich pool of skilled professionals and its growing reputation as India's premier IT hub. This strategic move is part of .

Wipro extends relationship with John Lewis Partnership for 4 years

As part of this engagement, Wipro FullStride Cloud will extend JLP's current cloud infrastructure, network, and end-user services for another four years

Indian IT firms cautiously advance GenAI projects, facing scaling hurdles

Despite the hype, top IT firms and analysts caution over slow adoption and high abandonment risks in generative AI projects

Q1 result review: Outlook positive for IT companies, challenges persist

Weakness in demand evident, discretionary spends similar: IT majors

Wipro plans to hire 10,000-12,000 freshers from campuses in FY25

Wipro joins other large IT services firms, which also announced plans to visit engineering campuses to hire freshers, as utilisation hits an all-time high and demand in some biz shows improvement

IT firm TCS adds over 5,000 employees in the first quarter of FY25

For the financial year 2023-24, TCS had reported a total headcount decline of 13,249 compared to FY23

GenAI does not move the needle in terms of budget: TCS MD & CEO Krithivasan

He talks about why he is hesitant to call out on growth, emerging markets driving growth, GenAI projects and other

HCLTech's Roshni Nadar Malhotra conferred highest civilian award of France

Instituted in 1802 by Napoleon Bonaparte, the Chevalier de la Legion d'Honneur is the highest civilian award given by the French Republic for outstanding service to France

IT services firm HCLTech launches its first global delivery centre in Bihar

Going forward, the centre will house specialised labs and centres of excellence to boost HCLTech's technology innovation and will offer a wide range of services to global clients, said the company

Accenture Q3 results: Demand slowdown in Indian IT bottoming, say analysts

What Accenture results mean for Indian IT: Analysts believe FY25 Street estimates for Indian IT companies have been adequately rationalised, implying little downgrade risk from current levels

IT firms grapple with new anti-dumping duty on PCBS under PLI scheme

Mobile phone manufacturers are exempt from this duty, whereas more complex PCB designs are also spared

AI app evaluation platform Maxim AI raises $3 mn led by Elevation Capital

Maxim's infrastructure, which sits between the foundational model and application layers of the AI stack, is deeply focused on AI developers who comprise the traditional AI/ML engineers

IT firms acquire niche players in ER&D to generate new revenue streams

Cognizant's acquisition of Belcan for $1.3-billion earlier this week as well as Infosys's dual acquisitions of in-tech for $480 million

Who is Azim Premji? The architect of IT major Wipro's global success

Padma Bhushan awardee Azim Premji, with a net worth of $12 billion, is the founder of Wipro and established the Azim Premji Foundation

Tracking apps, variable pay: How IT firms are nudging staff back to office

Cognizant, TCS, Dell, Wipro, and Infosys are deploying various tactics including compliance apps and linking variable pay to attendance to ensure their staff return to office

Cognizant Q1 profit declines 6% to $546 million, revenue dips 1.2%

2024 full-year revenue guidance unchanged at -2% to 2%; firm signed 8 large deals during the quarter with TCV of $100 million each

Birlasoft Q4 results: Profit rises 60% to Rs 180 cr, revenue up 11%

IT company Birlasoft on Monday reported a 60.55 per cent increase in consolidated net profit to Rs 180.08 crore during the March quarter. The company had recorded a net profit of Rs 112.16 crore in the year-ago period. The Pune-based company's revenue from operations stood at Rs 1,362.5 crore in the fourth quarter of FY24, up 11.10 per cent from Rs 1,226.3 crore a year earlier. According to a company statement, growth during the March quarter was driven by ERP and infrastructure among service lines and banking, financial services and insurance (BFSI), E&U (Energy and Utilities) and manufacturing among verticals. The revenue was led by manufacturing (Rs 571.02 crore), followed by Life Sciences and Services (Rs 301.49 crore), BFSI (Rs 288.36 crore), and E&U (Rs 201.66 crore). "We are pleased to report a robust operating performance for both the quarter and the full year, delivering revenue growth as well as margin expansion in the face of continued macro uncertainty," Birlasoft .

Wipro appoints Malay Joshi as CEO for 'Americas 1' strategic market unit

Joshi is a company veteran who joined Wipro in 1996 and has had an extensive career spanning over 28 years in various leadership roles across functions, industries, and geographies

Integration challenges, valuations key hurdles for LTI Mindtree investors

Centrum Research believes that the company has sufficient operating levers that will help it report a higher margin in FY25 vs FY24