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PCS: NO TURNING BACK (Patni Computer Systems revenue is likely to cross Rs900 crore by the end of 2002).
(From India Business Insight)
Patni Computer Systems (PCS) of Mumbai is now a Rs700-crore company with many foreign subsidiaries and domestic development centres. It employs 5,000 professionals.
In 1999, it spun off its hardware business as PCS Industries and concentrated on software services. It grew at an average rate of 53 percent till 2001 and its revenue is likely to cross Rs900 crore by the end of 2002. PCS' revenue mix is still dependent on the US. Its domain experience still hovers around a few verticals. It keeps high percentage of onsite revenues. These need to be changed to join the big companies league.
In 1996 though PCS and Infosys Technologies were of the same size by revenue, Infosys grew immensely by infusion of public funds.
PCS invited GE Electric to join its board in 2000. Following Mckinsey's advice for restructuring it invited Merrill Lynch to act as advisor ...
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