ITC Infotech is aiming for a Revenue of Rs 3,000 crore this Fiscal Year
ITC Infotech, a mid-cap IT services provider that is part of the Rs 2.87 lakh crore ITC Group, expects the growth momentum exhibited in the last four quarters to continue for the foreseeable future, allowing it to approach the Rs 3,000 crore revenue milestone in the current fiscal year.
The company earned Rs 2,454 crore in sales in the fiscal year that ended in March 2021, and it claims to have grown at a respectable rate of 23% in the first half of this fiscal year.
Sudip Singh, MD and CEO of ITC Infotech, told that the company is benefiting from more digitalization at businesses around the world as a result of the Covid-19 pandemic, and that he's now looking for inorganic growth prospects through acquisitions, which he says has already begun.
“ITC Infotech is very interesting. We’re at the lower end of the mid-tier, but we’re backed by a very strong parent. So from an inorganic growth perspective, the valuations are very rich, but we’re not capping our appetite,” said Singh. “Our only access is it focused on capabilities where we believe we are ahead of the curve.”
Senior management at ITC Ltd. have also expressed interest in making a significant acquisition, he said, even if the goal isn't topline growth but rather to hone the competencies that ITC Infotech has developed over the last few years.
Singh, who took over as CEO of ITC Infotech just over three years ago, says his main focus has been on simplifying the business's structure, delaying hierarchies, and decreasing the number of competencies to focus exclusively on areas in which the company has historically developed strengths.
He went on to say that the company's new work-from-anywhere structure aligns with his vision of putting employees and customers at the centre of the organisation, allowing for flexibility while simultaneously ensuring data security and project completion on time.
ITC Infotech, in collaboration with Harvard Business School, has devised a framework that will allow employees who are unable to go to the company's headquarters owing to the pandemic to work from smaller centres put up at ITC sites across the country.
Along with Prithwiraj Choudhury, Lumry Family Associate Professor at Harvard Business School, Singh stated the programme was designed utilising a data-driven structure.
The company earned Rs 2,454 crore in sales in the fiscal year that ended in March 2021, and it claims to have grown at a respectable rate of 23% in the first half of this fiscal year.
Sudip Singh, MD and CEO of ITC Infotech, told that the company is benefiting from more digitalization at businesses around the world as a result of the Covid-19 pandemic, and that he's now looking for inorganic growth prospects through acquisitions, which he says has already begun.
“ITC Infotech is very interesting. We’re at the lower end of the mid-tier, but we’re backed by a very strong parent. So from an inorganic growth perspective, the valuations are very rich, but we’re not capping our appetite,” said Singh. “Our only access is it focused on capabilities where we believe we are ahead of the curve.”
Senior management at ITC Ltd. have also expressed interest in making a significant acquisition, he said, even if the goal isn't topline growth but rather to hone the competencies that ITC Infotech has developed over the last few years.
Singh, who took over as CEO of ITC Infotech just over three years ago, says his main focus has been on simplifying the business's structure, delaying hierarchies, and decreasing the number of competencies to focus exclusively on areas in which the company has historically developed strengths.
He went on to say that the company's new work-from-anywhere structure aligns with his vision of putting employees and customers at the centre of the organisation, allowing for flexibility while simultaneously ensuring data security and project completion on time.
ITC Infotech, in collaboration with Harvard Business School, has devised a framework that will allow employees who are unable to go to the company's headquarters owing to the pandemic to work from smaller centres put up at ITC sites across the country.
Along with Prithwiraj Choudhury, Lumry Family Associate Professor at Harvard Business School, Singh stated the programme was designed utilising a data-driven structure.
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