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Mphasis bets on strong deal conversion; targets industry leading growth in FY22

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Mphasis is well-positioned to report industry-leading growth in FY22, Nitin Rakesh, chief executive officer, told CNBC-TV18.

Mphasis is well-positioned to report industry-leading growth in FY22, Nitin Rakesh, chief executive officer, told CNBC-TV18.
“The overall growth rate has been very strong; 30 percent plus growth in the direct business, organic basis, the third quarter in a row and the deal wins have been strong as well. So fairly well-positioned for industry-leading growth in direct and as the contribution of direct continues to increase, it’s not at 93 percent, the overall company growth and direct growth also starts to converge progressively,” he said.
Talking about the deal pipeline, Rakesh said, “We have closed about USD 1.3 billion net new total contract value (TCV) in the last 12 months but yet the pipeline is up double-digit on a YoY basis which means that our ability to originate new deals, bring them through the pipe and convert them continues to be good. Conversion to TCV is very strong and that’s the reason why we are starting to see a good revenue conversion and growth rate on the revenue side as well.”
“The order backlog is good, this was a very strong quarter for TCV as well as large deals and that should give us some tailwinds in the next 2-3 quarters, but at least for this year we will continue to believe that we can grow in the direct business at the market-leading growth rate,” he Rakesh.
Speaking about hiring, CFO Manish Dugar said, “This was one of those quarters where we went aggressive on making sure that we hired fresher and created that talent pool which can then be trained and upskilled by Talent Next platform of ours which can then fill the requirement of supply for the going forward quarters.”
For the full management interview, watch the video
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