Recently, some of the top IT companies kicked off their earnings results season for India’s IT services sector. HCL Tech, in April, estimated it would grow revenue in the range of 6-8 percent for the current fiscal year, including a small proportion of products-related revenue. The Noida-based company expects its pure services revenue to increase in the range of 6.5 percent to 8.5 percent. While TCS doesn’t provide a forecast, its top executives do provide some forward-looking commentary, which will be keenly analyzed.
“Deceleration doesn’t mean decline,” observes Yugal Joshi, a partner at Everest Group, an outsourcing advisory. India’s top IT companies are “so core” to the operations of many of the world’s biggest corporations that, barring another black swan, the future can only hold growth, he says.
