HCL Tech bags $ 500 mn deal from Pepsi

Country's fourth largest software services firm HCL Technologies has bagged a deal estimated to be around USD 500 (around Rs 3,000 crore) from beverage giant PepsiCo for offering infrastructure management services (IMS).

Country's fourth largest software services firm  HCL Technologies has bagged a deal estimated to be around USD 500 (around Rs 3,000 crore) from beverage giant PepsiCo for offering infrastructure management services (IMS).

Though the value of the 7-year deal was not disclosed, sources said the size of the agreement is about USD 500 million.

When contacted, HCL Technologies said: "We are pleased to be working with PepsiCo. However, we are not able to discuss further details at this stage."

Comments from PepsiCo India could not be obtained immediately.

PepsiCo, with brands like Lays, Tropicana and Quaker in its portfolio, has worked with many IT service providers in the past, including HP, IBM and Hewitt Associates.

HCL Technologies' infrastructure services, which accounted for about 30 percent of its revenues in the January-March 2014 quarter, grew 31.5 percent year-on-year, driven by strong demand especially in the rebid market.

For the quarter, the Noida-headquartered firm saw net profit jumping 59 percent to Rs 1,624 crore, helped by strong growth in infrastructure services as well as financial and
manufacturing verticals.

HCL Tech stock price

On May 20, 2014, at 14:10 hrs HCL Technologies was quoting at Rs 1304.10, up Rs 0.20, or 0.02 percent. The 52-week high of the share was Rs 1588.65 and the 52-week low was Rs 720.00.

The company's trailing 12-month (TTM) EPS was at Rs 77.87 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 16.75. The latest book value of the company is Rs 146.26 per share. At current value, the price-to-book value of the company is 8.92.

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