The company has also registered over 20 per centgrowth in its quarter-on-quarter numbers from the West Asia region for the third quarter of its fiscal year 2007-2008, it said in a statement. This is the highest increase the company has seen in its 12 years in the region. It has also revealed that its regional operations have generated 11 per cent of its rest of world earnings. The record revenues augur well for the global leader as it projects an estimate of 2.1 billion dollar in global revenues for FY 08.
According to company officials, the overwhelming success of the company's West Asia operations has been the result of over nine new multi-year, multi-million dollar outsourcing contracts with leading regional companies, which it has closed in the last few months.
Additionally, the company has also expanded its roster of high profile clients by welcoming 38 new customers since the beginning of the fiscal year, and with plans to grow its consulting and outsourcing business by 100 per cent over the next few years, Satyam is looking to further penetrate the booming West Asia region.
Commenting on the company's impressive growth, Director and Sr Vice President for Satyam's Asia-Pacific, West Asia East, India and Africa operations Virender Aggarwal, said, ''We have implemented a number of focused key strategies, which are aimed at increasing our business prospects in the West Asia's most promising markets. This has obviously reaped favorable results for us, as evident in the outstanding revenue figures, which we have garnered in the second half of 2007.'' The expansion in the region, which is fuelled by swelling investments in the local markets, has motivated the company to globalise the supply chain by establishing significant presence in Saudi Arabia, Kuwait, Qatar, the UAE, Oman, Jordan, Bahrain and Egypt as a first step.
Satyam's steadfast resolve towards constant reinvention is evident in its recent engagement with several niche areas such as enterprise applications, IT strategy consulting, quality consulting, data warehousing and business intelligence with various leading organisations across the West Asia region, the statement added.