TCS to hire about 50,000 in FY-2012: CEO
Mar 07 2011 , Bangalore
N Chandrasekaran , who is also the managing director of TCS, said IT outsourcing demand in Europe was recovering but was "slightly behind the curve", while outlook for North America, its largest exports market, remained strong.
"What I see on the ground is the spend is increasing. Fiscal 2012 will be a better year...better for growth," Chandrasekaran told reporters on Monday, adding he expected pricing to move up as demand for outsourcing increases.
TCS, whose clients include Citigroup and General Electric, has not seen any business impact from the unrest in Middle East and North Africa, he said.
Chandrasekaran also said the company would recruit as many or slightly less than about 50,000 it hired last year.
In January, TCS posted a market beating 30-percent rise in quarterly profit as it saw the highest client additions in seven quarters.
Demand for services offered by TCS and rivals Infosys and Wipro are seen rising, but a firmer rupee, rising wages, macroeconomic uncertainties and intensifying competition from global firms such as IBM and Accenture are key risks for the sector.
Last month, TCS said it expects to garner $1 billion revenue over five years by providing technology solutions to small-and-medium business units, an area where its revenue now is 'practically negligible.'
Shares of the company closed 2.27 percent lower on Monday at Rs 1108.75.