Global leader: Vineet Nayyar,
vice-chairman, MD and CEO
Core activity: IT services for telecommunications companies
Revenue: US$934 million (FY08 ended March)
Key customers: BT
India’s astounding success fostering global IT services companies is epitomised by the ongoing success of Tech Mahindra, a company specialising in the provision of solutions for telecommunication companies.
The company’s roots lie in Mahindra & Mahindra, an Indian industrial conglomerate boasting annual revenue of US$6.7 billion and activities in the automotive, financial and logistics sectors. In 1986, this company created a joint venture with British Telecom, (BT), eventually sloughing off joint naming to become a global concern employing nearly 23,000 staff and offering a mix of IT services, business process outsourcing and research and development services.
Along the way, it has experienced strong growth: 2004’s revenue of US$163 million reached US$934 million in 2008.
Vice-chairman, managing director and CEO Vineet Nayyar acknowledges that BT remains a key client, after recently signing up for $US350 million of work. Working for BT is also seen as a helpful way to develop services for other clients and accelerate the company’s development.
Nayyar also believes that Tech Mahindra is preparing well for the future, stating in the company’s annual report that, “We continue to focus on emerging markets and see a greater demand for telecom transformation, greenfield implementations and next-generation services. We have been successful in enabling rapid realisation of new products and services, while delivering significant cost savings.”
The CEO says he believes the company is well-positioned to weather the current economic turbulence. “My belief is that the recent economic events are an opportunity for us to realign our business models and offer these differentiated solutions to our customers,” he says in the annual report. “There is an increased interest across our customer base for deriving the benefits of the global delivery model.” Simon Sharwood
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