L&T Infotech says positive about the spend patterns of our customers

L&T Infotech’s promoters have sold 6.08 percent stake via offer for sale route to bring their stake down to 75 percent. Sanjay Jalona, managing director and CEO of the company,spoke to CNBC-TV18 about the company's business plans and outlook.

“If you look at the customers, they are doing very well overall. The economies where Indian IT companies typically operate, North America as well as Europe portions have been growing very rapidly. They are more profitable, they are growing very well. So they are spending, they continue to spend in technology, they see technology as an enabler to go into newer geographies, newer regions, newer areas of operations etc,” Jalona said.

“The spend might have changed from typical support based businesses to change the business where digital technologies are expected to bring these benefits to them. So if you have a very good proposition, the customers always find ways of finding the budgets to execute. So we feel very positive about the economy overall. We feel very positively about the spend patterns of our customers though the nature of the business might have changed,” he added.

"The company has closed large deals and also announced over 11 odd large deals over the last two years," said Jalona.

“We do not give the revenue guidance but where we are, we are positive that FY19 we will be the leaders in the revenue growth for the year as well,” he said.