Mphasis could see industry-leading growth in direct international business in FY22, said Nitin Rakesh, CEO & executive director (ED) of leading applied technology services company, on Friday.
The stock is under pressure post a mixed March-ended quarter with revenue and margins coming in below estimates but deal wins coming in very strong.
Speaking in an interview with CNBC-TV18, Rakesh said, “We had four quarters of successive USD 200 million-plus total contract value (TCV) wins that has given us one of the best growth profiles in the industry indirect business.”
“We do believe that with the momentum we are seeing in the deal wins and the direct business, we have strong visibility in growth for direct business and probably industry-leading growth numbers, which definitely exceeds the high teens' number. We will settle the DXC (DXC Technology and Mphasis are solution partners) number somewhere around mid-single-digit as a percentage of revenue given that it was 12 percent in Q4. So we believe that direct business will grow further and will make up for some of the declines that we have seen in and we will have a well above industry growth in FY22,” he said.
For the entire management interview, watch the video