Satyam Computer Services Ltd., a leading global consulting and information technology services company, announced that it has achieved over 100% growth in its year-on-year revenues and over 20% growth in its quarter-on-quarter numbers from the Middle East region for the third quarter of its fiscal year 2007-2008. This is the highest increase the company has seen in its 12 years in the region. The company also revealed that its regional operations have generated 11 per cent of its rest of world earnings. The record revenues augur well for the global leader as it projects an estimate of USD 2.1 billion (AED 7.7 billion) in global revenues for FY 08.
According to company officials, the overwhelming success of the company’s Middle East operations has been the result of over 9 new multi-year, multi-million dollar outsourcing contracts with leading regional companies, which it has closed in the last few months. Additionally, the company has also expanded its roster of high profile clients by welcoming 38 new customers since the beginning of the fiscal year, and with plans to grow its consulting and outsourcing business by 100 per cent over the next few years, Satyam is looking to further penetrate the booming Middle East region.
Commenting on the company’s impressive growth, Mr.Virender Aggarwal, Director and Sr.Vice President for Satyam’s Asia-Pacific, Middle East, India and Africa operations said, “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 obviously reaped favorable results for us, as evident in the outstanding revenue figures, which we have garnered in the second half of 2007. Highly motivated by our great success, we are taking initiatives to further enhance our portfolio of capabilities, thereby solidifying our position as a leading global provider of integrated, end-to-end business consulting transformation services.”
In addition to the Middle East, Satyam’s operations in the U.S. has also seen a remarkable boost by raking in USD 562.9 million (AED 2 billion) in revenues - a 49.9 per cent increase on its YOY performance. Leveraging the intensified brand and marketing strategies, which have proven its effectiveness across its global operations, Satyam has posted a 32 per cent YOY revenue growth, with expectations of generating USD 2.1 billion (AED 7.7 billion) by the end of the 2008 fiscal year. Amidst the company’s significant growth in the revenue aspect of its business, Satyam has gathered a number of accolades within the same period last year, including the ‘Asian Corporate Social Responsibility Award’ and the ‘E&Y Entrepreneur of the Year’ award for B. Ramalinga Raju. The company has also been named as the official IT services provider to the FIFA World Cup.
Revealing its full commitment to the emergence of an alternate workforce, a multi-country model and a global delivery approach, Satyam offers the most customized and optimum business solution to its regional and international customers. The expansion in the region, which is fuelled by swelling investments in the local markets, has motivated the company to globalize the supply chain by establishing significant presence in Saudi Arabia, Kuwait, Qatar, the UAE, Oman, Jordan, Bahrain and Egypt as a first step. Satyam’s steadfast resolve towards constant reinvention is evident in its recent engagement with several niche areas such as enterprise applications, IT strategy consulting, quality consulting, data warehousing and business intelligence with various leading organizations across the Middle East region.
