<p>Software bellwether Infosys Chief Financial Officer V Balakrishnan today said the industry body Nasscom's around 14 percent growth target for the current fiscal looks "ambitious", given the gloomy domestic as well as global macroeconomic scenarios.<br /><br /></p>.<p>"I think the industry growth of 11-15 percent looks ambitious now, but Nasscom has stuck to its stand; so we will see," Balakrishnan told reporters on the sidelines of an event here.<br /><br />Even after the tepid numbers reported by IT companies for the March quarter, the National Association of Software and Services Companies (Nasscom) -- currently headed by N Chandrasekaran of TCS -- has maintained an industry growth target of 11-14 percent in revenues for FY13.<br /><br />While announcing its earnings last month, the Infosys management had said its topline would grow at 8-10 percent in dollar terms, hurting the company scrip at the bourses, which tanked 11 percent on that day.<br /><br />"If you look at the industry, at least the top two players have given guidance for 0-1 percent growth in the first quarter," Ramakrishnan pointed out today.<br /><br />He said client feedback had led Infosys to give its muted guidance for the fiscal.<br /><br />"Either we will be right or Nasscom will be right, you'll know by the end of the year," he added.<br /><br />On asked if the company will be revising its guidance, given the recent depreciation in the rupee which generally helps exporters, Balakrishnan said its too early for a revision.<br /><br />"Its too early, (to revise guidance due to rupee movement), we have to wait and see. It is not only about rupee-dollar, it is about cross currencies too; they are also moving in different ways," he said.<br /><br />Balakrishnan further said for the industry, every single percentage movement will have an impact of 40-50 bps impact on the margins.<br /><br />When asked to comment on reports that the company is facing attrition due to its announcement of no pay-hike this year, Balakrishnan said no such thing has been witnessed in the company.</p>
<p>Software bellwether Infosys Chief Financial Officer V Balakrishnan today said the industry body Nasscom's around 14 percent growth target for the current fiscal looks "ambitious", given the gloomy domestic as well as global macroeconomic scenarios.<br /><br /></p>.<p>"I think the industry growth of 11-15 percent looks ambitious now, but Nasscom has stuck to its stand; so we will see," Balakrishnan told reporters on the sidelines of an event here.<br /><br />Even after the tepid numbers reported by IT companies for the March quarter, the National Association of Software and Services Companies (Nasscom) -- currently headed by N Chandrasekaran of TCS -- has maintained an industry growth target of 11-14 percent in revenues for FY13.<br /><br />While announcing its earnings last month, the Infosys management had said its topline would grow at 8-10 percent in dollar terms, hurting the company scrip at the bourses, which tanked 11 percent on that day.<br /><br />"If you look at the industry, at least the top two players have given guidance for 0-1 percent growth in the first quarter," Ramakrishnan pointed out today.<br /><br />He said client feedback had led Infosys to give its muted guidance for the fiscal.<br /><br />"Either we will be right or Nasscom will be right, you'll know by the end of the year," he added.<br /><br />On asked if the company will be revising its guidance, given the recent depreciation in the rupee which generally helps exporters, Balakrishnan said its too early for a revision.<br /><br />"Its too early, (to revise guidance due to rupee movement), we have to wait and see. It is not only about rupee-dollar, it is about cross currencies too; they are also moving in different ways," he said.<br /><br />Balakrishnan further said for the industry, every single percentage movement will have an impact of 40-50 bps impact on the margins.<br /><br />When asked to comment on reports that the company is facing attrition due to its announcement of no pay-hike this year, Balakrishnan said no such thing has been witnessed in the company.</p>