Positioning

Infosys in stable position, founders built incredible organization: CEO Salil Parekh | Mint – Mint





Infosys CEO Sahil Parekh believes that the company is ‘well-positioned’ to leverage tech-growth opportunities over the next several years.
Infosys CEO Sahil Parekh heaped praises on the company’s founders for building such an ‘incredible organization’. He exuded confidence that the firm which has always been solid will continue with the same stability, according to news agency PTI.
After a bitter spat between its founders and then-management a few years ago, Parekh steered the firm to stability. He believes that Infosys is ‘well-positioned’ to leverage tech-growth opportunities over the next several years.
He took over at the helm in January 2018, after a standoff between the board and founders over various issues such as governance which led to exit of then-CEO Vishal Sikka. He only focused on navigating challenges over the past few years and has been credited with the turnaround of the Indian IT giant.
In an interview to PTI, Parekh said that the organization seem to be in a good, stable, and steady position and it has always been solid. “The founders (of Infosys) have built an incredible organization. It has always be in a good place. We hope to continue with that stability,” he said.
Recently, the company raised its full-year revenue growth outlook to 14-16% for FR23, citing strong demand and a robust deal pipeline. Notably, the consolidated revenue of Infosys has grown from 73,715 crore to 1,23,936 crore over the last five years, while the consolidated net profit rose from 16,029 crore in FY18 to 22,110 crore in FY22.
“While Infosys is on a very strong foundation, the tech area too has incredible growth opportunity. I think we are extremely well positioned to take advantage of that. I am very optimistic about it,” Parekh told PTI when asked about the big challenges and opportunities ahead.
He said that the company wants to have market share growth, meaning growth, which is more than what the industry is growing at and that is a good measure.
Infosys’ CEO also asserted that the organization would like to be at a pace faster than the industry, as it has surpassed the industry’s average growth rates over the past few years.
“The only challenge is to remain focused on what clients are looking for and not get distracted by other things,” he said.
In the IT sector, Infosys competed with Tata Consultancy Services, Wipro and many other organizations. It reported a net profit of 5,360 crore, or 12.78 a share, in the first three months of the current fiscal, compared with 5,195 crore, or 12.24 per share a year ago, according to PTI reports.
In the first quarter of FY23, the company’s revenue or turnover stood at 34,470 crore, which was 23.6% higher than a year ago, while operating margin was lower at 20.1% against full-year margin guidance of 21-23%.

(With PTI inputs)
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