Bangalore: IT firm Wipro Ltd is bidding for 12 contracts worth at least $100 million (around Rs428 crore) each to raise sales at India’s third largest software provider and help it meet a goal of becoming one of the industry’s 10 largest companies. Wipro has formed a new Global Programs Group to specifically target such orders, Girish Paranjpe and Suresh Vaswani, joint chief executive officers of Wipro’s information technology business, said in an interview in Bangalore.
“Clearly, we want to be among the top 10 information technology services providers in the three- to five-year time frame,” Vaswani said.
Suresh Vaswani (left) and Girish Paranjpe, joint chief executive officers of Wipro’s information technology business (Photo by: Hemant Mishra / Mint)
Wipro currently ranks in the “mid-teens,” he said.
Wipro, controlled by billionaire Azim Premji, aims to win more orders such as the $600 million contract from Aircel Ltd to bridge the large order gap between itself and bigger rivals Infosys Technologies Ltd and Tata Consultancy Services Ltd (TCS).
Second-ranked Infosys has as many as 67 clients providing it with annual sales of $50 million or more each, while TCS, the largest, has 26 large customers, and Wipro 14.
Wipro, based in Bangalore, is currently competing for large orders in industries including financial services and telecommunications in the US, Europe and Middle East, they said. “There are deals on the table in those markets, where we are competing,” Paranjpe said.
Wipro reported on 18 April net income climbed 12% to Rs3,280 crore for the year that ended on 31 March. Revenue, including sales of products such as soaps and light bulbs, rose 33% to Rs20,020 crore.
Premji in April named Paranjpe and Vaswani as joint chief executive officers of the information technology business, which accounts for more than 80% of Wipro’s annual sales.