Tata Consultancy racing to $10-b mark

If Tata Consultancy manages to maintain its current scorching pace of growth, it will be able to realise its vision of clocking $10 billion by the end of fiscal 2011-12.
Being a $10-billion company would place TCS in the envious league of the top-10 IT companies in the world, joining the likes of IBM, Accenture and Capgemini.
The company, which reported annual revenues of $6.7 billion for the fiscal ended March 31, 2010, is expected to end the current fiscal with revenues of around $8.2-$8.3 billion, analysts say. On being asked about the possibility of getting there, Mr S. Mahalingam, Chief Financial Officer, said, “We are in a growth environment and that certainly looks feasible.” He did not elaborate further. It may be recalled that Mr Ratan Tata, Chairman of the Tata Group, had unveiled the $10-billion target for TCS at the annual general meeting of TCS' shareholders in 2006. Mr Tata had stated that TCS would achieve that size by 2010. Though the company was on track to achieve this till 2008, its plans got derailed due to the global financial meltdown that triggered the collapse of several larges institutions such as Lehman Brothers, Bear Stearns and Washington Mutual.
Source - BL, Adith Charlie