Tech Mahindra on track to touch $5-bn revenues by FY17

Tech Mahindra, the country’s fifth largest software servicescompany, which reported just over $3 billion in revenues for the fiscal ended March 2014, is on track to garner revenues of $5 billion by FY17, said executive vice chairman Vineet Nayyar.

“As far as business is concerned, there is growth. And, the outlook is positive. There is a possibility that we will reach that number,” he told mediapersons here on Friday.

On the company’s merger and acquisition plans, Nayyar said their acquisitions were always static and strategic in nature and were not aimed at getting more revenues. “As and when some strategic opportunities are available, we will certainly go for them,” he said.

Stating that the extension of the offset clause to civil aviation would obviously be a help to Tech Mahindra as it had a significant practice in avionics, Nayyar said the company was always in continuous dialogue with the government in sorting out legal issues (related to Satyam) that it was currently facing. “And, if the government (new) sees the way we see it, then hopefully there will be a solution,” he added.

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