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TCS Canada to double revenue to $500 mn by 2014

TCS Canada to double revenue to $500 mn by 2014
PTI
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First Published: Sun, Feb 06 2011. 02 36 PM IST
Updated: Sun, Feb 06 2011. 02 36 PM IST
Toronto:India’s largest software firm TCS expects to double revenue from its Canada operations to $500-million by 2014, a senior official said.
TCS Canada had posted revenue of $17-million in 2005, which grew to $250-million in 2010, the official said.
“We are witnessing very good demand and are sure that our revenues will double to $500 million by 2014,” the official said, on condition of anonymity.
TCS which established an office in Canada in 1999 now operates as a wholly-owned subsidiary of the Indian software major and currently employs 3,200 consultants serving 90 clients.
When asked about revenues, TCS’ country manager for Canada, Akhilesh Tripathi, refused to share numbers citing company policy according to which revenues are declared continent-wise.
He, however, said the Canada operations are profitable and have been recording a 50% compound growth each year for the last five years, which is “much better” than the industry average.
TCS Canada has been projected to break into one of the top 10 IT firms in the country by consultancy firm IDC Canada, Tripathi said.
In signs of the operations coming of age, the firm is also planning to hire from campuses in Canada in 2011, Tripathi said, adding till now the Canadian recruitments were of experienced professionals.
It will be hiring “less than 500” people this year and in order to attract the best talent, the company has also embarked on a brand-building campaign for being known among prospective employees, he said.
The key differentiator which works for TCS Canada is its support from India operations, Tripathi said, adding because of the time difference a client can practically have consultants working on a project for 16-hours a day or two shifts.
He cited a recent event wherein TCS outbid a rival to win a contract just because of the turnaround time. “We did the work in seven months while the nearest proposal was asking for two years,” he said.
Tripathi said TCS entered Canada very early and has been servicing Canadian clients since 1991. “What worked for us was that we did not see Canada as the 51st state of the United States,” he said, pointing to the mindset of some Indian companies which look at Canada in this way.
TCS Canada has now grown to be the largest India-headquartered services provider in Canada.
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First Published: Sun, Feb 06 2011. 02 36 PM IST