Large deals announced by Indian IT services providers and even their global peers have failed to enthuse investors’ faith in any near-term recovery of technology spend.
“There will be several large deals announced (in the third quarter), but these will be heavily discounted as there continues to be a growing gap between book-to-bill or bookings and revenue. The street has lost confidence in the book-to-bill ratio as a predictor of revenue growth, and the large deals contribute to this controversy,” said Peter Bendor Samuel, CEO of Everest Group.
