TCS today ranks amongst one of the best companies with the way we partner with clients, said N Chandrasekharan.
If you really look at the growth rate as well as the absolute revenue that we add, we rank number one.
N Chandrasekaran
CEO & MD
TCS
On the sidelines of the Tata Consultancy Services (TCS) New York Marathon, which saw a participation of around 50,000 runners, CEO and MD, N Chandrasekharan of the company spoke to CNBC-TV18's Menaka Doshi on the way forward.
It is the company's aim to be strategic partner to their customers. "TCS today ranks amongst one of the best companies with the way we partner with clients, he added.
Below is the trasnscript of that interview
Chandrasekharan: First of all what is more important is to continue to gain mindshare with our customers to be their strategic partners. I think we are doing very well. If you really look at the growth rate as well as the absolute revenue that we add, we rank number one. This is our incremental revenues every year so we seem to be doing things right now; we just have to keep on the momentum.
Q: But I am sure it is part of your ambition to be amongst the top three global IT service players in the world, how long will it take you to get there?
Chandrasekharan: It is very difficult to predict a timeline but we are doing very well.
Q: Before your third term as CEO?
Chandrasekharan: Let us see.
Q: The thing about size is it comes with its incumbent issues for instance you may rank sixth or seventh in terms of revenue but when it comes to people you rank number two at around 318,000, and IBM is the only one with a larger manpower than you are. Even Accenture whose revenues are much ahead of yours is far lower in terms of head counts. What is the main in terms of the quality of your growth, the quality of your revenue because you are sixth or seventh in revenue with the second largest workforce, is that efficient?
Chandrasekharan: I would like to give you two perspectives. The first perspective is that the size of the workforce you have pretty much depends on the geography footprint from where you deliver the services. If your cost base of those locations is lower, that will also reflect in the overall revenue you see, so that has to be taken into account.
But specifically on the quality of revenues, I would say that TCS today ranks amongst one of the best companies with the way we partner with clients. We see the traction with clients, the kind of work we do. If you see the thought leadership engagements that we do, I think we get fair share of revenue.
Q: So are you saying that revenue per employee where you don't rank amongst the top 10 or profitability per employee where even a player like HCL Tech is ahead of you - these are not matrix that you treat important, these are not matrix that we should measure TCS by because they don't tell a very flattering story.
A: All these matrixes are important but you just have to see them in the overall perspective and they are important to the extent that you drive your business and grow your business in a manageable fashion. But at the same time you got to see the revenue per employee in the context of the locations in which you serve and we work with global customers and we want to have a fantastic foot print to be able to serve them in every market in which we operate and they operate.
TCS stock price
On November 03, 2014, at 14:10 hrs Tata Consultancy Services was quoting at Rs 2590.00, down Rs 14.55, or 0.56 percent. The 52-week high of the share was Rs 2834.00 and the 52-week low was Rs 1960.00.
The company's trailing 12-month (TTM) EPS was at Rs 99.52 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 26.02. The latest book value of the company is Rs 224.90 per share. At current value, the price-to-book value of the company is 11.52.
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