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US recovery speeding up’

business Updated: Jun 12, 2009 23:26 IST
N. Madhavan
N. Madhavan
Hindustan Times
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Infosys Technologies is expecting a recovery in the US, its prime market, at a pace faster than earlier thought. The software leader is adding 100 executives to increase its sales force by more than 10 per cent to help ride out the downturn faster, its chief operating officer SD Shibulal said on Friday.

“We are recruiting 100 people in sales as we speak,” Shibulal told Hindustan Times in an interview. “We don’t want to wait for the recovery. This is the time to invest.”

Infosys has about 700 sales executives, who help drive business for the company that has about 1.4 lakh employees.

“We believe we will have to invest more on the client side,” Shibulal said, observing that layoffs in key client companies resulted in the exit of contact persons that disturbed sales opportunities. However, Infosys believed in “multi-level” engagements that helped sustain business, he said.

Shibulal said emerging markets will get a higher share of the new headcount to meet higher demand and also tap into growing opportunities.

The Bangalore-based , Nasdaq-listed company, which 120 Fortune 500 companies among its 579 active clients, surveyed about 135 clients about a quarter ago, when they had said that recovery would begin late in 2009 and go into 2010.

“My conversation with them says it is faster than three months back,” said Shibulal, and referred to ailing US banks doing with less government support than thought earlier. However, the current 2009-10 fiscal year will still be without the effect of the recovery, which would show up only in the following fiscal year, he added.

Infosys’ revenues totaled Rs 21,693 crore in 2008-09, up 30 per cent over the previous year. It is expecting sales of Rs. 22,066 to 22, 928 crore in the current recession-hit year.