NG SUBRAMANIAM
NPCI’s nudge to new UPI players; govt’s Nvidia deal
Happy Wednesday! The National Payments Corporation of India (NPCI) is pushing new payments apps on UPI to drive more incentives to consumers to help increase their market share. This and more in today’s ETtech Morning Dispatch.
TCS has one of world's largest AI-ready workforces, says CEO K Krithivasan
IT services major Tata Consultancy Services (TCS) is equipped with one of the largest and most AI-ready workforces in the world, chief executive officer K Krithivasan told employees in an email at the start of the new fiscal.
Bottoming out on revenue side; running a marathon and a sprint at the same time: TCS Management
TCS executives discuss generative AI pipeline revenue, growth prospects, AI challenges, and revenue conversion uncertainties. They anticipate growth revival, emphasize efficiency, innovation, and the complexity of running a marathon and sprint simultaneously. Krithivasan says "the Cloud unit that we formed is doing really well. They have launched several offerings to customers, which are really noteworthy and people like it. So, we should do well."
TCS sounds final call for staff to work from office
In the fiscal third quarter, India's second largest IT firm Infosys said one of its US units was affected by a cyber security issue, resulting in the unavailability of several applications. In December, HCLTech reported a ransomware incident, adding that it had made no impact.
Byju’s rights issue at $500 million valuation; what’s hurting cloud kitchens?
Happy Wednesday! Beleaguered edtech major Byju’s finally filed its much-delayed audited FY22 results with the Registrar of Companies. It’s also holding talks to float a rights issue at a valuation of less than $1 billion. Yes, you heard it right. More on that in today’s ETtech Morning Dispatch.
Tech demand in FY25 to be better than this fiscal: TCS' NG Subramaniam
Though clients are not cutting down on the budgets in the ongoing fiscal 2024, they are optimising every aspect of the business since macro uncertainties remain, Subramaniam told ET in an interview.
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Bengaluru's Synergia to host three day conclave on tech, security and the future
NSAB and Tata Consultancy services (TCS) have partnered with Synergia for the event. The conclave will bring together statesmen, policy-makers, scientists and industry leaders, said Synergia founder Tobby Simon, who emphasized the conclave interdisciplinary nature in a briefing on Monday.
TCS CEO & CFO explain the disconnect between revenue booking, deal signings & helicopter shots
TCS CEO K Krithivasan and COO NG Subramaniam discussed the company's Q2 results and future outlook. They highlighted strong deal wins in the UK, while the US market faces uncertainties due to weak retail and manufacturing sectors. They acknowledged that revenue booking and deal signings can be disconnected due to the completion of large projects and customers reprioritizing ongoing projects based on ROI. The executives emphasized the need for agility in planning and stated that the recovery timeline is uncertain.
TCS to tap global markets for promoting made in India 5G gear: COO
Tata Consultancy Services (TCS) is looking to promote its locally developed 5G radio network gear in overseas markets, particularly in the US. TCS Chief Operating Officer NG Subramaniam stated that the N78 5G radios designed by Tejas Networks may be qualified for global 5G opportunities, including those in the US.
K Krithivasan revamps TCS, amends Rajesh Gopinathan's strategy
Under new CEO, tech major also makes changes to leadership, aligns with business verticals
New CEO on priorities and demand outlook for TCS post Q1 results
“We see a lot of opportunities in vendor consolidation, cost and optimisation as they focus on efficiencies. The large deals that we have lined up augurs well for the coming quarters. We need to see where the opportunities are and execute them well and deserve what we deliver in Q2 and Q3, says COO NG Subramanian”
TCS will continue to bet on Cloud, cybersecurity, Gen AI: new CEO K Krithivasan
Tata Consultancy Services' new chief K Krithivasan, in his first mail to employees after assuming office, gave a sneak peek into the company's future bets while also recounting some of his positive experiences during his 34-year journey at the company.
Gopinathan steps down as TCS CEO today, Krithivasan to take over on June 1
“I wish Krithi the very best as he takes over the TCS baton and charts the way forward to our $50 billion aspirations,” Gopinathan wrote in a note to employees on Monday.
TCS management on hiring, attrition and focus on double-digit growth in FY24
"Our hiring model has been global for many years. We have been hiring globally not just from the market but also from the campus, across all locations, across all geographies. The HI situation has not been so good for the last couple of years but we managed it in spite of that because we had moved our model and that will continue and we manage our cost also by having a right mix in that location."
Demand environment across geographies quite good: TCS Management
"In the last two quarters, we have hired 35,000 freshers. In the last six to nine months, we have actually invested in organic talent development of these people coupled with some additions from the market. So bringing all of that talent and making them productive, and whatever is the gap we bring it from the market is what is driving this quarter’s growth and the future growth will also be like that."
TCS well positioned to capitalise on growth opportunities and to deal with any challenges: Rajesh Gopinathan
“Many of the headwinds that we see on the structural cost basis are transitory in nature and require strong execution. It is not a trivial task but that is what TCS’s core strength is so we are quite confident about being able to execute on that and to maintain that trajectory.”
Telcos seek easier pay terms in 5G auctions
Last week, Vi's board cleared a plan to raise ₹4,500 crore from promoters Vodafone UK and India's Aditya Birla Group via a preferential allotment and an extra ₹10,000 crore from external investors, to take on Reliance Jio and Bharti Airtel and participate in the upcoming 5G spectrum auction.
5G, 5Gi standards merger can enhance rural coverage: TSDSI Chairman
Subramaniam further said that the local technology that has a capability to achieve better rural coverage, and following deliberations with partners, bodies and stakeholders, has been recognised as a meaningful requirement, and it would be incorporated into the 3GPP 5G standards.
Government sets up multiple task forces for 6G development
In a notification dated December 30, the department mandated immediate deliverables by March 31, 2022 that included mapping of 6G activities and capabilities worldwide, and a white paper on India's competencies, including research and pre-standardisation activities.
Should TCS shareholders expect higher dividends?
"We have been consistent in our policy of distributing 80-100% of our free cash flow unless there is some specific requirement like an acquisition, for example," says TCS CFO CFO V Ramakrishnan.
Indian IT Firms rush in as Europe takes to outsourcing in new normal
TCS, Infosys and Wipro have made many acquisitions or won large deals in Europe in the last few months as the Covid-19 pandemic pushed companies to transform their businesses quickly.
Softness in margins shouldn’t last beyond Q3: Rajesh Gopinathan
We had spoken about the weakness in the BFSI space and that is also playing out.
2019 to be better than 2018 in terms of deal pipeline, order book and visibility on margin: Rajesh Gopinathan, TCS
“Investment agenda and focus on maximising demand to take priority over cost, margin management”
Banking on digital business to improve our margins: Rajesh Gopinathan, TCS
"You should expect close to 100% capital return to shareholders."
TCS is focussed on getting back to double-digit growth: Subramaniam
"I think the exit rate has been very good, and look for good times."
How TCS is getting back on track to achieve double digit growth
BFSI may have been slow this quarter but the Transamerica deal is the largest deal that TCS has inked
There’s no structural problem, we will recover our margins: Rajesh Gopinathan, TCS
We are committed to getting to the old margin range of 26-28%, says the TCS CEO
We are incrementally positive, almost two-thirds of TCS revenue coming from non-BFS sectors: Rajesh Gopinathan
In Q4, for the first time non-BFS sectors now contributed more than 60% of TCS revenue.
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