Business

New products, clients and markets

While Infosys bagged 29 new clients, its main focus on the banking vertical still continues. Interestingly, Infy's banking business unit crossed the Rs. 100-crore mark this quarter. To enhance its services in banking and finance, Infosys acquired SimpleRM, a CRM product developed by Trivium Systems Inc, on a non-exclusive basis at $1 million. Infosys will integrate this product with its banking software Finacle to provide an end-to-end offering to its banking clients.

Contribution of revenues from the U.S. for 2001-02 showed a decline at 71.2 per cent compared to the previous year's 73.5 per cent. Europe increased to 19.5 per cent compared to 18.8 per cent in the earlier year. Even China, has assumed more importance in Infy's growth strategy with new Chinese clients in the telecom sector "since the telecom sector in China has stabilised compared to other regions,'' Mr. Nilekani remarked.

On the future outlook, Infosys estimates a revenue growth of 17 to 20 per cent for the current year. Income from software services have been projected at Rs. 3,085-3,170 crores.

For the first quarter-ended June 30, 2002, Infosys has predicted revenues of Rs. 684-694 crores "with continued emphasis on continuing the values of Infosys within the corporate strategy,'' according to the Chief Mentor, Narayana Murthy.

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