Big IT firms are projecting a single-digit revenue growth rate for the current financial year despite winning several large deals as these companies continue to lose business from existing clients. Industry sources are of the opinion that the loss in existing business from the clients far exceeds the new wins.
“This disconnect between good bookings numbers and revenue decline is due to the erosion of existing business. There is also some lag as the large cost-saving deals take time to ramp up,” said Peter Bendor- Samuel, CEO of Everest Group.
