Infosys on track to get back to top, says CEO Vishal Sikka

Infosys is on track to get back to industry leading growth in FY17, its CEO Vishal Sikka has said, adding that this was the target set for  him when N R Narayana Murthy took over the reins as chairman for a brief period starting June, 2013.

At the Barclays Global TMT Conference in the US, Sikka said that Infosys was on track to achieve higher growth rates on the back of  large deal wins. In the past, Infosys also had said that the average large deal size was in the range of $500-550 million but in the second quarter of FY16, it had risen to $830 million.

The IT major has provided for an annual revenue growth guidance of 10-12% in constant currency terms for FY16.

Once the bellwether of the Indian IT industry, Infosys has not managed to meet the expectations in the recent past when compared to the industry benchmark set by Nasscom of 12-14%.

According to Sikka, Infosys has now brought in a culture of innovation especially in the delivery side of the business. Infosys will also remain strongly focused on the automation aspect of its business, the CEO said.

Infosys CFO M D Ranganath said that the company hopes to continue with its operating profit margin band of 24-26% in the near to medium term. He said that the per capita revenue improvement of  Infosys is expected to rise in a couple of years.

Infosys has set a target of $20 billion in revenues by 2020 with an average revenue per employee of $80,000 from the current level of $55,000. It has also targetted an operating profit margin of 30% by 2020.

[Source:-The Financial Express]