CMC plans to hire 400 people in fiscal 2014

CMC plans to hire 400 people in fiscal 2014

Tata Consultancy Services subsidiary CMC is planning to hire 400-500 people this fiscal to add to its nearly 12,000 strong employee base, CMC Managing Director and Chief Executive Officer R Ramanan told Deccan Herald.

Ramanan said that the company has already recruited 125 employees and will go on to add close to 500 in the course of the fiscal.

“We are more focused on utilisation of the employees and are going to hire with regard to demand,” Ramanan added.

CMC, whose clients include the Reserve Bank of India and the Bombay Stock Exchange, reported consolidated operating revenue of Rs 1,926 crore for the year ended March 31, 2013, an increase of 31 per cent over 2011-12. The company earned profit after tax (PAT) of Rs 230 crore, an increase of 52 per cent over 2011-12.

Ramanan said that they added 80 clients during the fiscal and added they have seen momentum in the market and expects to continue growing above industry average.

Focus areas for the company in India are banking and financial services (BFSI) and manufacturing energy resources and utilities. Like India, the company focuses on government projects even in the Middle East and Africa.

“We look at local government projects in these countries just as we do in India.”
The company improved its EBITDA margin by 124 basis points and Ramanan believes that 15-17 per cent is the kind of margin the company would look at.

CMC, a systems engineering and integration company said that R&D is a very important component and acts as a differentiator in the market.

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