New Delhi : Mindtree Ltd. reported its sixth consecutive quarter of revenue growth of over 5% in constant currency and closed the June quarter with its highest ever total contract value (TCV) of deals, which stood at $570 million. Mindtree, owned by Larsen & Toubro Limited (L&T), is in the process of merger with L&T Infotech (LTI) to form a separate entity ‘LTIIndtree’, which is expected to become India’s sixth largest IT services firm in terms of revenue. is headed towards. of market capitalization. In an interview, Debashish Chatterjee, Chief Executive Officer and Managing Director, Mindtree talks about the demand environment, integration process and recruitment plans. Edited excerpt:
How do you see the demand environment in the coming quarters?
We reported revenue growth of over 5% in constant currency for the sixth consecutive quarter and closed the quarter with our highest ever TCV, even in the face of rapid business and technology change. Digital transformation is an ongoing imperative and not a one-time project. Given this, our ability to serve customers through all phases of their digital transformation journey – whether it is digitization and redefining processes, or redefining business models and becoming future ready Make use of digital technologies – gives us a competitive edge. Economic constraints are known to inspire creative ways to free dollars from pockets of inefficiency and redeploy them on initiatives with assured ROI. Therefore, we remain cautiously optimistic about the opportunities created by fast customers to balance costs and digital imperatives with the future in mind.
Do you see any cuts in the customer budget due to fears of an economic slowdown?
There is no sign of any significant change in customer behavior so far. However, we are watching near-term macroeconomic growth closely. Organizations across sectors today are convinced of the long-term potential of digital transformation in creating competitive differentiation. Given the digital transformation to optimize cost as well as improving revenues with clients, we expect our experience and expertise to help deliver both of these objectives to continue to create opportunities for us Can go
Where are you on LTI-Mindtree merger? Is integration in process?
Both organizations are hoping to unlock their full potential by becoming a combined player at a combined scale to benefit from the recent industry shift around larger deals and end-to-end offerings. The stock exchanges have provided their overview sheets and no objections. The merger is now awaiting other regulatory approvals. Steering Committee has been constituted. It meets regularly to oversee the integration plan. Combining the complementary strengths of both companies to better serve customers by unlocking scale benefits, a strong portfolio of offerings across verticals, enhancing customer engagement and streamlined delivery processes, LTIMindtree will be better positioned to participate in larger deals, Will strengthen partnerships with players across the ecosystem. Create a more specific employee value proposition. The synergy between the two companies is already yielding results, as evident in a major deal with a global travel technology company that we recently won in partnership with LTI.
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