TCS recently reported a revenue growth of 21.7 percent y-o-y to Rs 16,070 crore in Q3 2012-13. The number of clients contributing $100 million or more to annual revenue rose to 16 from 14, TCS said in January.
Other massive contracts TCS recently won include a multi-year outsourcing contract worth $2.5 billion with Citigroup and a $2.2 billion contract with UK-based Friends Life. Earlier this year, TCS was selected by a US manufacturer for an enterprise level SAP deployment roadmap and assessment. It was also selected as a strategic partner for the Digital Transformation Program for a US based payment company.
During the second quarter of 2012-13, TCS was also selected by a global food & beverage firm as Big Data Solution development partner to generate granular insights and forecasts using advanced analytical models with scalable computation Transformation.
Some other illustrious clients of this Tata Group conglomerate include General Electric, British Airways and Sony.
While analyzing the performance of IT service companies in India, Dipen Shah, head of Fundamental Research, Kotak Securities said that TCS’ performance was impressive compared to competitors like Infosys and Wipro. TCS was found to indicate that verticals like auto, hitech and manufacturing, apart from insurance, are seeing stable decision making cycles and spends.
India’s $100 billion IT services sector is touted to do even better, helped by acceleration in IT spending by existing customers and addition of clients.