Infosys plans to double Europe revenue share to 40 per cent
20 Oct 2011
India's No 2 software services exporter Infosys is looking to double the share of revenue from Europe to 40 per cent of its total sales by the end of its 2014 financial year, with cost-strapped global companies increasing outsourcing.
Ashok Vemuri, head of Americas and member of the company's board told Reuters in an interview at Infosys' office in Singapore, that the company was targeting its business would be 40 per cent from Americas, 40 per cent from Europe and 20 per cent from Asia.
Vemuri is head of the company's financial services and insurance business, which account for around a third of Infosys' revenues. The firm has a 140,000-strong staff and plans to add 45,000 people globally this year.
According to Vemuri, companies in Europe were taking a longer time to decide on IT services contracts due to the eurozone debt worries. However, the long-term outsourcing trend was intact.
Europe constitutes the second-largest market for India's software firms that have been looking to increase their sales in the region to hedge against their exposure to the
US, which accounted for more than half their sales.
The software services company's revenue vaulted nearly 20 per cent to $3.4 billion in the six months ended 30 September.