TCS targets $10 billion revenue in 2010
By Our Corporate Bureau | 28 Nov 2006
New Delhi: Software services provider, Tata Consultancy Services, has set a Vision 2010 target of $10 billion revenue. The company is aiming to achieve $4 billion in revenue by the end of fiscal 2007, its CEO and managing director S Ramadorai said on the sidelines of a Nasscom conference.
He said the target of $10 billion in revenue by 2010 is very much achievable for the company which is growing at 30 per cent. TCS is aiming to end the current fiscal with $4 billion in revenue.
"We have a target to achieve $4 billion in revenue by the end of this fiscal growing at 30 per cent and for the last five years we have been growing at a compounded annual growth rate of over 30 per cent," he said.
The company had won a $90 million Qantas deal. It is a seven-year deal and the largest ever for an Indian IT company in Australia.
TCS, a Tata Group company ended the fiscal 2006 with a revenue of $3 billion. Consolidated revenues of TCS for the year 2005-06 was Rs13, 386.23 crore ($3 billion).
The shares of the company were trading at Rs1,144, down 1.19 per cent on the Bombay Stock Exchange.