HCL Technologies CEO, Vineet Nayar, has said he sees deals worth about USD2 billion, on which decisions would be made by clients in the next 90 days. Revealing this in a conference call with analysts after announcing results for the quarter ended September 2008, Nayar said, I havent seen something like this in the last 3 years. He cited outsourcing advisory companies as saying that deal flows would slow down. Despite this, I feel that Indian service providers would see a larger deal flow should decisions go in their favour, referring to the same deals.
Of these deals waiting to be decided on, 45 per cent are from the manufacturing sector, 25 per cent from the media and entertainment segment while financial services brought in the rest, according to him.
He also clarified that 55 per cent of deals that HCL Technologies pitches for is populated by non Indian MNCs as competition. That is, no other Indian provider figures in these deals we pitch for. Also, for 34 per cent of these deals, or five deals, in this context, we have to compete with only one large player.
