Bangalore Mindtree Limited has adopted a “three-pronged approach” to sustain its growth momentum – accelerating its core business, expanding emerging ones and developing new opportunities. As enterprises begin their digital transformation journey, the Bengaluru-based company is focusing on building the necessary capabilities to meet customer demand, said Debashish Chatterjee, Chief Executive Officer and Managing Director, Mindtree in an interview. .
How do you see the overall demand environment in the coming quarters?
The demand environment remains strong. The evolving business landscape shaped by blurring industry lines, new business models, revenue streams and technologies, and the pressing need to be future ready are creating more opportunities for us. We continue to strengthen our position by becoming more consultation-based, results-focused and globally. Our pipeline is healthy and extensive. In fiscal 2012, we added 33 new logos, increased the revenue share of our Focus 100 accounts to nearly 90%, and doubled the number of $20-million accounts. During the year, our top 2-20 customers grew faster than the company average. Digital technologies are increasingly at the center of re-imagining business models and building future-ready businesses. For enterprises, digital transformation is an ongoing process. We see this turning into an increasing structural demand for business and technology capabilities. Taking a three-pronged approach to accelerate core portfolios, expand emerging portfolios, and incubate new portfolios, we continue to drive industry-leading profitable growth while following market trends and delivering massive digital transformation to customer needs. Trying to keep up with our growth momentum. ,
Has the Russo-Ukraine War had any effect on trade?
We do not have a presence in the countries involved and have not yet seen any impact on our operations elsewhere in the region. Our immediate priority is to provide business continuity support to our customers affected by the growth. We are continuously monitoring the situation.
Any comment on the possible merger between Mindtree and L&T Infotech, as reported in the media?
We will not comment on speculation.
Are you considering any acquisitions this year? In which regions or geographies?
For us, M&A (Mergers and Acquisitions) are about complementing or enhancing our capabilities in strategic focus areas. This is evident in our acquisition of L&T NXT last year, which opened up new opportunities for us around AI, IoT and Industry 4.0. Our focus is on the capabilities that help us advance our digital vision for our customers. We are selective about the types of companies we go after and are innovative in the way we engage with them. For example, our recent investment in COPE Health Solutions, a healthcare consulting and analytics leader in the US, is about unlocking a complementary value proposition built around end-to-end digital transformation and industry-specific consulting capabilities. It will accelerate our growth in the health sector by harnessing the opportunities arising out of value-based care, population health management and personalized health care.
What inspired your decision to open new centers in Pune and Kolkata?
Access to the best talent is one of our key differences. Our focus is to translate this differentiator into an even stronger competitive advantage. Expanding our distribution footprint to hire talent rather than the other way around is key to our ‘go-to-talent’ strategy. Both Pune and Kolkata are rich talent centers with some of the top educational institutions in India and a vibrant knowledge ecosystem fueled by long industrial and entrepreneurial traditions. As part of our ‘future work’ talent strategy, we are also working in Tier-II and -3 cities, and setting up offices in Coimbatore and Warangal.
What type and size of deals are you focusing on?
Our focus is on the value we can provide to make a meaningful difference to our customers. We are extremely pleased with our healthy mix of annuities and transformational deals across industry segments.