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Infosys expects to outperform industry: Kris

Software major Infosys on Tuesday said it expects to continue growing faster than the average growth of Indian IT industry backing its optimism on the increased IT spending by companies across the world. Speaking on the sidelines of NASSCOM Leadership Forum S 'Kris' Gopalakrishnan, CEO and MD of Infosys said that the company is growing at around 26% against the industry average of 16 to 18%.

business Updated: Feb 08, 2011 22:58 IST
HT Correspondent

Software major Infosys on Tuesday said it expects to continue growing faster than the average growth of Indian IT industry backing its optimism on the increased IT spending by companies across the world. Speaking on the sidelines of NASSCOM Leadership Forum S 'Kris' Gopalakrishnan, CEO and MD of Infosys said that the company is growing at around 26% against the industry average of 16 to 18%.

"Over the many years we have been beating the average IT industry's growth rate and we will continue with our robust growth rate in future as well," said Gopalakrishnan.

He added that though Infosys intends to go acquire companies for its expansive growth and diversification yet the company would ensure that target acquire companies gel with the Infy's larger growth plans and not acquire just because valuations are attractive. The company had earlier said that it could look at mid-sized acquisitions in the range of around $300 million. Gopalakrishnan refused to comment on the speculations of a management revamp at the company.

Speculations were also afloat about KV Kamath, non-executive chairman of ICICI Bank taking over as chairman of Infosys when the current chairman NR Narayana Murthy steps down in August this year. Kamath, however, denied any such move.

"These are mere rumours," he said on the sidelines of NASSCOM forum.