Persistent Systems Confident Of Beating Nasscom’s FY19 Guidance
Mid-cap I.T. firm Persistent Systems Ltd. is confident of beating industry body Nasscom's growth forecast for next year, backed by growth in new businesses.
Artificial intelligence and newer technologies are creating a lot of opportunities, Anand Deshpande, founder, chairman and managing director of the company told BloombergQuint in an interview.
Nasscom expects the software services industry to grow between 7-9 percent for the coming financial year as companies adapt to newer technologies and embrace the digital wave. “The current outlook is cautious optimism,” R Chandrashekhar, president of Nasscom, said at a media briefing yesterday.
While Deshpande said the Pune-based company will comfortably beat the industry body’s growth forecast for next year, he said, in the near-term, the company will miss out on revenues from one of its large clients in the fourth quarter of the current financial year. "However, we are signing a number of digital deals, which could help revenue growth."
Deshpande said he believes the time is right to spend aggressively on sales and salesforce in order to bring in business while keeping margins intact.
Watch the full interview here.