L&T Infotech moots calibrated efforts to bid projects

Larsen & Toubro Infotech has said that it will remain calibrated, when it comes to bidding for orders in India.

 “We see huge scope for orders from America, Europe and many other geographies outside India, following which we will remain very calibrated when it comes to bidding for orders in India,” company CEO Sanjay Jalona told DH.

Revenues from India will not exceed 6-7% of our revenues going forward as well while those from Europe are expected to be around 25%, Jalona added.

Revenues from the Indian geography for the company during the year ended March 31, 2017, was at 6.8% and it grew 28.9%. The revenues from India for the previous fiscal was at 5.7%. Revenues from Europe stood at 17.3% in FY16 and 18.2% in FY17.

According to Jalona, the company will look at reducing people on-site in order to deal with the visa issues announced by US President Donald Trump. “The company pays above the median already when it comes to H-1B visas. We are also looking to reduce people on-site to offshore in order to overcome the issues that are likely to arise due to the new visa regime announced by Donald Trump,” he said. “When it comes to hiring, we will be looking at hiring 1,500-2,000 people in the current fiscal,” he said.

Meanwhile, the company, which announced rebranding, has reported a flat growth in sequential revenues during the quarter at Rs 1,677.2 crore and a 2.6% sequential growth in net profit at Rs 254.5 crore.