Source: Reuters
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Tata Consultancy Services (TCS) will spend Rs 1,300 crore on capital expenditure and add 30,000 new employees to its existing 60,000 workforce this year. TCS grew at 38% for the year and has projected a growth of 28-30% in ’06-07 in line with Nasscom estimates.
The attrition of the company is at 9%, which is the lowest in the industry but Ratan Tata, the chairman, said that it may go up considering the growing demand of IT professionals.The company plans to add another 30,000 employees to its existing employee base of more than 60,000, said S Ramadorai, CEO and MD, TCS. Of this, 3,900 have already been added in the first quarter and another 2,800 offers have been made, he added.
The company has plans to expand in emerging geographies like China and eastern Europe. Giving a snapshot of the past year, Mr Ramadorai said that the company has won some big contracts which will generate Rs 1,000 crore in the next few years.
The company added 303 new clients in ’05-06 taking the total number to 929. However, 95% of the business came from existing clients. The company is experiencing fast growth in Latin American and APAC regions and the emerging economies contributed around 14% to FY06 revenues. Though a major chunk (60%) of the company’s business come from the US, the revenues from the Indian market have grown 40%.
TCS is expected to shift to its new office Rallis House in January next year. The Rallis house was purchased at Rs 56 crore and Rs 35 crore have been spent on refurbishment of the place. The IT major has around 50 subsidiaries of which 30 are profitable
TCS to add 30,000 jobs
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