Through The Fly's Eyes: Infosys Technologies
from contributing editor Jay Somaney at GlobalTechStocks.com
Notes from Infosys's Conference Call
Infosys Technologies' (INFY) call was cut short a few minutes ago. Here are some notable points:
- The company plans to hire 25,000 employees in this fiscal year.
- Billable headcount remained unchanged on a sequential QOQ basis at 26.5% onsite and 73.5% offshore.
- Attrition for the last twelve months came in at 13.7% but management indicated that the rate was slowing down.
- Management also indicated that they fully expect the rupee to depreciate against the dollar as we move through the year.
- Demand from the US remains strong and is actually picking up steam completely in contrast to the squealings we were hearing ahead of the report.
- Offshore pricing was up 4.4% YOY.
- Onsite pricing was also up 6.3% YOY.
- Dollar denominated revenue guidance for FY08 is up 30% compared to the 26% expected by the squealers.
- Dollar denominated earnings guidance is also up 28%.
- Management sees no signs of a slowdown in BFSI which was an area of concern due to sub-prime issues.
- Margins will be maintained in FY2008 even if rupee keeps appreciating, which it will not.
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