Tata Consultancy Services Ltd (TCS), the country''s largest
exporter of IT and ITES services, expects its revenues
to touch $10 billion in the next four to five years
- a five-fold increase from the current levels of over
the annual general meeting of the company in Mumbai,
Tata group chairman Ratan Tata said, "We aim to
become among the top ten (IT companies) by 2010 with
revenues touching $10 billion over the next four years.
The company will leverage the booming IT industry which
is witnessing rapid growth during these years."
currently is the country''s top IT software and service
exporter, followed by Infosys Technologies Ltd and Wipro,
respectively, as per the ranking of top 20 companies
by the National Association of Software and Service
Companies (Nasscom) for 2005-06.
reported revenues of over $2 billion in the previous
said the company has earmarked a capital expenditure
of around Rs 1,300 crore for the current fiscal and
strengthening of the employee base by around 30,000
during the year current fiscal.
this, he said, Rs1,000 crore would be used for infrastructure
development, including setting up of campuses in various
parts of the country, while Rs300 crore would go towards
he said, would use the merger and acquisition route
to achieve a 28-30 per cent growth rate during the year,
slightly above the growth rate predicted by the industry
TCS board, meanwhile, proposed the issue of bonus shares
of Re1 each on a 1:1 basis for each Re1 share. The company
has approved the capitalisation of a sum of Rs48,93,05,249
out of the Rs20,66.68 crore standing in the credit of
the securities premium
account as of March 31, 2006, the company informed the
Bombay Stock Exchange (BSE) on Thursday.
proposed issue, however, is subject to necessary provisions