Tata Consultancy Services, the information technology unit of the Tata Group, is more than a quarter of the way to its goal of garnering $1 billion (more than Rs 6,150 crore) in revenue from the group’s companies, two people with knowledge of the matter said.
Cyrus Mistry, the group’s chairman, had asked heads of Tata companies to begin shifting work to TCS two years ago. TCS used to receive about $100 million a year from Tata Group companies, less than a tenth of what the group companies are estimated to spend on information technology. But that has begun to change.
“They are getting more business from the group companies. I would say, that they would be close to $350 million a year from the group companies,” an executive with a group company, who declined to be named, told ET. TCS said it doesn’t provide client specific information.