Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / Satyam reports $28mn revenues from Middle East
BackBack

Satyam reports $28mn revenues from Middle East

Satyam reports $28mn revenues from Middle East

Premium

By PTI

Dubai: India’s Satyam Computer Services has reported a growth of more than 100 % in revenues to $28 million from the Middle East in fiscal year ending March 2008.

“In the last fiscal year, we experienced about 100 per cent growth in the Middle East, with growth doubling in countries such as Kuwait and Bahrain. Qatar and the UAE also saw extensive growth," Satyam Computer Services director and senior vice-president for Asia-Pacific, Middle East, India and Africa, Virender Aggarwal said.

“In terms of next year’s revenues, we expect about 24 to 26% growth. At this stage the only thing we can say is that the region will grow faster than the rest of the world," he told Gulf News.

The Middle East, Africa, Asia Pacific and India region contribute 19% of global revenues. The Middle East alone contributes 1.5% of global revenues, he said.

Satyam has offices in eight countries in the Middle East and serves close to 160 customers in the entire region from various verticals and emerging technology competencies.

“We have implemented a number of focused key strategies, which are aimed at increasing our business prospects in the Middle East’s most promising markets. This has been reflected in the outstanding revenue figures in the second half of 2007.

The expansion in the region, which is fueled by swelling investments in local markets, has motivated the company to establish a significant presence in Saudi Arabia, Kuwait, Qatar, the UAE, Oman, Jordan, Bahrain and Egypt.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 11 May 2008, 02:44 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App