BANGALORE: Infosys Technologies is pursuing five to six outsourcing deals - each worth $50 million to $200 million - but the global economic downturn has slowed deals, its chief financial officer said.
"We are also pursuing some large deals," V Balakrishnan told on Friday. "The problem is the velocity of business is getting hurt because of the environment."
Infosys gets more than half its revenue from the United States but is expanding to Europe and elsewhere. "Customers are more cautious now. They want to conserve cash," Balakrishnan said.
He said companies that were doing 10 projects earlier were now doing only three or four, while some were postponing plans.
The economic slowdown in the United States, which accounts for more than half of the sector's export revenue, and turmoil in the global financial sector have halted its scorching pace of growth and battered stocks. |
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