Our Objective Is Always To Grow Faster Than The Market

Please throw some light on the IT sector going forward.

While I don’t expect IT spending of the customer to go up significantly, we collectively as Indian IT services industry are addressing a small percentage of the market. We have to expand our market addressing capability and capacity. Innovation and value creation holds the key.

What is the topline and bottomline growth you are looking at for fiscal 2011?
We have a goal but we don’t share that information. Our objective is always to grow faster than the market.

Can you comment on the semi-annual price cut that HP has introduced and what is the quantum of cuts?

We don’t share specifics of any customer and partner contract.

Are you witnessing any pricing pressure across your verticals?

Pricing pressure is always there. Government spending in selected countries is under lot more pressure. Other industries are also under pressure but the variable is the market that they are serving.

In which verticals do you see the growth coming from going forward?

Our focus verticals are banking, capital markets, healthcare, telecom and insurance, amongst others. We are investing appropriately here. [PAGE BREAK]

Will HP continue to remain your main client going forward?

We do about 10 per cent of revenues with HP as a customer. That is an important relationship but our relationship with HP as a partner is even bigger, about 60 per cent of our revenues come through this partnership where we are serving external clients together. Taking purely an end client view of our business, we have an impressive list of clients including HP and they are all important to our success.

Is there any possibility of a merger between HP and Mphasis?

HP is the right party to answer the question any question relating to HP’s shareholding in Mphasis.

Could you take us through your hedging policy? Are you going to increase your hedges in coming quarters?
We have a very structured and extensive hedging policy that is serving our needs well, no change is planned in that right now.

How do you plan to de-risk your business?
The other area of growth for us is our direct business. We continue to innovate to further ignite our growth of direct business.