/dq/media/agency_attachments/UPxQAOdkwhCk8EYzqyvs.png)
Follow UsCo-founder and CEO: Krishnakumar Natarajan www.mindtree.com
Mid-sized IT provider Mindtree reported impressive reveneus for FY13. The topline growth of 23% is double the IT industry's growth. But top management attrition is an area of concern for the company with some key exits in the recent past. FY13 also saw the company realigning its organizational structure as per recommendations by management consultant Bain & Co and divided its operations across four focused business segments. But the revenue guidance of $ 1bn in five years might be an uphill task given the current market realities to achieve that company needs to go on an inorganic spree.
In terms of business, the IT services revenue grew by 14.7%. Among verticals, telecom grew 32.2% followed by manufacturing & retail, which grew by 15.6% and BFSI which grew by 14.2%. Europe saw the highest growth among regions at 21.6%, followed by a 6% growth in the US.
Infrastructure management and tech support grew by 41%, followed by development revenue that grew by 24%.
Highlights
- Announces an aggressive revenue target of $ 1bn in five years
- Embarks on leadership and talent grooming initiatives aimed at creating strong leadership pipeline