Infosys to hire 25,000 people this fiscal

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Infosys
New Delhi, Nov 17: Infosys, the country's second largest software exporter, today said the company is looking for acquisition opportunities in Europe and Japan, shifting its focus from the American region.

''We will not go for acquisitions only on the valuation basis in Europe and Japan, we see opportunities and may acquire in the regions in future,'' company CEO Kris Gopalakrishnan told reporters on the sidelines of India Economic Summit here. Currently, North America contributes 68 per cent to the company's revenue, while the Europe and the rest of the world account for 28 per cent and 10 per cent, respectively.

Five years ago, North America contributed about 78 per cent of the company's business, Mr Gopalkrishnan said, adding that the company now plans to focus more on other locations, with about 40 per cent share each from North America and the Europe and the rest of world pooling 20 per cent.

He also said currency moves will have impact on its third quarter revenue.

''Definitely currency movement will have an impact but it is difficult to say what exactly it is," he said, adding the company is also seeing flat billing rates.

Regarding the company's growth in this quarter, he said, ''Last quarter, we added 40 plus clients and this quarter also, we are adding clients-growth is there, it is not at all negative.'' ''It is a slow period but medium and long term outlook is undoubtedly positive,'' he added.

The company will also go ahead with its plans for hiring 25,000 employees this fiscal.

''We have already hired 9,000 people till now in this fiscal and will recruit about 16,000 employees by March 2009,'' he said.

However, the hiring process has calmed down on account of slowing business due to global economic turmoil as the company had employed about 33,000 people last fiscal.


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