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Optimism returns for Indian IT Services amidst robust deal pipeline

Blog: NASSCOM Official Blog

Expansion Strategy remains a positive indicator

In my last blog ”Positive Signs for Indian IT companies as they kick-off their expansion strategy in the #newnormal” I highlighted the expansion focus on Indian IT companies as a positive indicator for the sector. The same belief got a boost this morning with Wipro announcing acquisition of Belgium based Salesforce implementation partner 4C for €68 million, its second acquisition for the month.

Source: Company Website; NASSCOM Analysis

Majority company’s believe the worst is over amidst a ….

Apart from the expansion strategy another key indicator that is showing a return of optimism for the Indian IT segment is the promising deal pipeline which is showing signs of confidence for the segment strengthening the belief that it has bottomed out in 1QFY21, amidst the adverse impact of the pandemic.

Overall, the segments reported a negative revenue growth during the quarter driven by the adverse COVID impact across all segments with Lifesciences showing some stability.

…Robust deal pipeline which restores optimism…

Though, companies remain uncertain on how the pandemic shapes up, one key sign of optimism which has restored confidence in the visibility for coming quarters is the revival of deal pipeline.

Though all companies haven’t reported their deal signings for the quarter, the ones that have reported tallied a deal pipeline of over USD10 billion, with majority companies indicating a healthy deal pipeline.

Source: Company Reports, NASSCOM Analysis

…And a return of guidance reporting

The outlook seems to be improving with most companies resuming guidance this quarter, which was discontinued in the last quarter; with majority companies expecting the revenue growth to resume from the second quarter.

Source: Company Reports, NASSCOM Analysis

To know more updates on Indian IT-BPM sector’s performance follow the Quarterly Industry Review released by NASSCOM every quarter.

The post Optimism returns for Indian IT Services amidst robust deal pipeline appeared first on NASSCOM Community |The Official Community of Indian IT Industry.

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