TCS to join the $10 billion league by 2010

Mumbai: 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 $2 billion.

Addressing 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."

TCS 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.

TCS reported revenues of over $2 billion in the previous fiscal.

Tata 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.

Of 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 technology development.