Financial Daily from THE HINDU group of publications
Friday, Jan 04, 2002
Info-Tech - Software
Corporate - Announcements
TCS gets Rs 200-cr order from United Utilities
Mr Les Dawson, Managing Director, United Utilities Plc, and Mr Phiroz Vandrevala, Executive Vice-President, TCS, at a press conference in Mumbai on Thursday.
MUMBAI, Jan. 3
TATA Consultancy Services (TCS) has signed an agreement for over Rs 200 crore (30 million pounds) order with United Utilities Plc of UK for delivery of IT services. The agreement is for three years running through till March 31, 2005 with an option of renewing it for another five years till 2010.
`` TCS has set up an offsite facility in Manchester dedicated to the United Utilities engagement. The centre has a capacity to house 1,500 professionals. We will also provide solutions through our offshore delivery centre in Kolkata,'' said Mr Phiroz Vandrewala, Executive Vice-President, TCS, and Chairman, National Association of software and Services Companies (Nasscom), at a press meet held here.
United Utilities is 1,775-million pound multi-utility group providing services in water, wastewater, electricity distribution and gas supply, telecommunications and business process outsourcing. As per the agreement, TCS will provide services covering general IT requirements and intelligence gathering, application development and integration, support and maintenance across a range of platforms. Specific areas of operation include, enterprise application integration, management information system/data warehousing and development.
With this order, UK's contribution to TCS's revenue stream is expected to increase beyond the current 14 per cent. The company, which has 10 offices across the UK with 900 professionals, expects its revenues from the region to grow above 40 per cent this year.
`` Last year, our UK business grew at 45 per cent contributing 64 million pounds and this year we expect to gross revenues 90 million pounds,'' said Mr Vandrewala. In the future, too the company expected increased revenues from the European region including markets such as France, Germany, Scandinavia, Holland and Belgium, he said. `` Also, the US market is picking up. The number of deals that are happening in the industry and the projects flow from the US are far more today than what it was in the first half of last year,'' he added.
According to him, ``Solutions for banking, financial services and insurance continue to be the largest contributor to our revenues. However, beginning with the United Utilities order we expect the utilities solutions business to pick up. We have prior experience in providing solutions to National Thermal Power Corporation and PowerGrid Corporation. This would come in handy for developing solutions that incorporate best practices of the industry.''
Speaking about Nasscom's expectations from the Budget for 2002-03, Mr Vandrewala said, ``We only want the Government to address certain procedural issues in this Budget.''
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