You’ve had the best deal bookings this quarter. Where is the spend coming from?
This is the third time we are getting the highest bookings in the last five quarters. Spend is across the board. There is an uptake in spend in financial services and the technology and services segment. In retail and CPG, we are working with many leading brands in not only running their IT landscapes but also significantly modernising them. Lifesciences and healthcare have also been stable. Telecom is a big area for us as a lot of service providers are looking at how they can leverage 5G. Obviously, they’re trying to optimise the cost in some traditional areas. That is an opportunity for us.
How is the industry shaping up, given the talk of consolidation among smaller players like Mindtree and NIIT Technologies?
I do believe that the IT services market is very large and has space for a number of players. Whoever can focus and create a niche and differentiated offering and positioning have a very strong and viable business. Of course, every company is in a different phase of life and have to do what is good for businesses.
What about your IP strategy after the IBM product acquisition? What is your long-term plan in IP, considering it is a difficult market?
It’s a very interesting market that provides the opportunity to be innovative and client focused. The IPs that we have acquired are very mission critical for our clients. For example, in the commerce platform that we have acquired, there are a number of companies
where 30-40 per cent business flows through this platform and it is integral to their business. Customers are looking at how this can be modernised. In isolation, this IP strategy is very good for building a products business. It is also helping us launch a number of as-a-service offerings, where we provide end-to-end technology and operations.
How is manpower structured around the deal? Have you also acquired people as part of the pact?
Yes, we will be acquiring people. As part of the transition, some will be transferred over to us and we would also continue to expand some of the teams, especially from India, so that we can get more bandwidth to modernise and develop these solutions.