Infosys Worried About Euro Woes

IT bellwether Infosys said the ongoing sovereign debt problem in the Eurozone region is a matter of concern for software companies.

“Clearly there are concerns with our clients about what is happening in Europe…we already have seen that the European companies have responded slower than our US clients after the recovery. I think the European crisis would continue for sometime and that is definitely a cause for concern,” Infosys chief executive and managing director Kris S Gopalakrishnan said.

Currently, Europe contributes about 25 per cent of Infosys revenues. “Our European exposure is mostly to Britain, Switzerland, Germany, France and to the Nordic countries and about 25 per cent of our revenues come from Europe,” he said.

To a query, Gopalakrishnan remained affirmative that they are well on growth track. “If you look at the results from the last two quarters we have seen sequential growth of about 5-6 per cent and we are now recruiting,” he said.

Elaborating, he said the company would offer increments in June and they are looking at overall recruitment of 30,000 in this financial year. “We are on target,” he added.

On expansion plans he said, the company is looking for additional facility in Bangalore. “Yes we are looking at additional facility in Bangalore and as soon as something is lined up we can talk about it,” he said but declined to elaborate.

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