Wipro eyes 45pc jump in ME income
Dubai, October 7, 2009
Wipro, India's third-biggest outsourcing company, expects revenue from the Middle East to grow at least 45 per cent this year despite the economic slowdown.
"We expect the Middle East to grow 45-50 per cent in revenue terms in 2009," Anand Sankaran, chief executive of Wipro Infotech, a business unit of Wipro, told reporters.
Revenue from the Middle East grew 300 per cent last year but the financial downturn has slowed revenue growth, he said, adding: "This region again will be a growth driver and growth will be three times more than any other part".
Revenue from the region touched $180 million last year, accounting for 4-5 percent of total revenue, he said.
Wipro secured a five-year contract of "substantial value" from Abu Dhabi National Energy Company (Taqa) on Monday to provide IT services.
"We are in talks with some other leading companies to manage their IT operations," he said, declining to name the firms. Wipro is also eyeing contracts in North Africa and plans to set up delivery centres in Egypt and other parts of the Middle East, he said.-Reuters