Satyam posts $28 mn revenues from Middle East
Satyam Computer Services reports a growth of more than 100 per cent in revenues to $28 million from the Middle East in fiscal year ending March 2008.Updated: May 11, 2008 13:12 IST
Satyam Computer Services has reported a growth of more than 100 per cent in revenues to $28 million from the Middle East in fiscal year ending March 2008.
"In the last fiscal year, we experienced about 100 per cent growth in the Middle East, with growth doubling in countries such as Kuwait and Bahrain. Qatar and the UAE also saw extensive growth," Satyam Computer Services Director and Senior Vice-President for Asia-Pacific, Middle East, India and Africa, Virender Aggarwal said.
"In terms of next year's revenues, we expect about 24 to 26 per cent growth. At this stage the only thing we can say is that the region will grow faster than the rest of the world," he told Gulf News.
The Middle East, Africa, Asia Pacific and India region contribute 19 per cent of global revenues. The Middle East alone contributes 1.5 per cent of global revenues, he said.
Satyam has offices in eight countries in the Middle East and serves close to 160 customers in the entire region from various verticals and emerging technology competencies.
"We have implemented a number of focused key strategies, which are aimed at increasing our business prospects in the Middle East's most promising markets. This has been reflected in the outstanding revenue figures in the second half of 2007.
The expansion in the region, which is fueled by swelling investments in local markets, has motivated the company to establish a significant presence in Saudi Arabia, Kuwait, Qatar, the UAE, Oman, Jordan, Bahrain and Egypt.