Mindtree's new strategy focuses on four industries, four service lines, and four geographies
The IT firm said it will continue its focus on driving profitable growth with better account mining, multi-year annuity deals, seamless delivery, partnerships, and targeted mergers & acquisitions
BENGALURU: Bengaluru-based IT services company Mindtree Ltd has outlined a 4x4x4 strategy. The strategy focuses on four industries, four service lines, and four geographies aimed at growth, building existing strengths and developing strategic partnerships.
As part of its strategy, Mindtree will be focusing on four industry groups— retail, consumer products and manufacturing (RCM), banking financial services and insurance (BFSI); travel, tourism & hospitality (TTH), communication media and technology (CMT); four service lines—customer success, data & intelligence, cloud, and enterprise IT; and four geographies—North America, UK & Ireland, Continental Europe, Asia Pacific & rest of world, Debashis Chatterjee, CEO & MD, Mindtree said at an analyst meet on 3 December.
Mindtree said it will continue its focus on driving profitable growth with better account mining, multi-year annuity deals, seamless delivery, partnerships and targeted mergers & acquisitions.
“Top clients have contributed significantly to the overall growth for the company in recent past with over 75% of incremental quarterly revenue run rate in the last three years and share of contribution grew from 16.1% to 28.9% in Q2FY21," Emkay Research said in a note after the meet.
Despite some weakness in Q2, the management believes that top client outlook remains strong and is likely to recover from Q3 with immense growth opportunities.
The company’s management indicated their plan to gradually ramp up managed services and annuity business to drive stability. Mindtree has created a large-deal pursuit team to increase win rates in large deals in the range of $50-100 million with a significant part in managed services.
Looking forward, as digital is redefining businesses and operating models, Mindtree aspires to become a business transformation partner for its clients, Chatterjee said. “We will continue to make investments for future-ready talent, strong IP & partner ecosystem and inorganic growth opportunities."
Mindtree, now a Larsen & Toubro (L&T) Ltd company, posted revenues of $1,089 million for FY20, crossing the billion-dollar mark 20 years after its inception in 1999.