Chennai, Nov 15 (IANS) Asia’s largest software services company Tata Consultancy Services (TCS) is planning to increase its revenue from software product space focusing on healthcare, government and retail sectors, said a top company official Monday.
‘Major portion of our product revenue is from our financial services product space. We are now focusing on software products for government/healthcare and retail sectors. We have products for business process outsourcing (BPO) and small, medium enterprises,’ N. Chandrasekaran, CEO and MD of the TCS, told reporters here.
According to him, the company earns around four percent of its revenue from vending products and this is set to go up.
Queried about the company’s overseas hiring plans, Chandrasekaran said: ‘Currently the company has around 12,000 foreigners on its rolls and this is set to go up as we will be hiring in China, Europe and Latin America. However, the ratio of Indian employees: foreign nationals will not undergo any major change. We have around 177,000 employees on our rolls.’
In India, TCS will be hiring around 50,000 people over the next 12 months.
‘In Chennai, we will be adding around 12,000 people taking the total in the city to 50,000. We will also have a small presence in Coimbatore,’ Chandrasekaran added.
On the issue of wage pressure on its employees, he said: ‘It will not be across the board. Only a small section of the employees would face that pressure depending on the skill sets they possess.’
On the question of lateral recruitments made during the past couple of quarters, he said: ‘We didn’t consciously avoid campus recruitment. The academic cycle got over when we hired, so we had to resort for lateral hiring.’
Meanwhile, TCS in its plan to fund 200 doctoral candidates over a period of five years has selected 22 candidates and will select another 18 by next February.
‘They will pursue basic research in computer science. Our funding the research scholars is not linked to the development of IPRs for the company or their becoming our employees,’ he said.
According to Chandrasekaran, TCS has around 200 employees holding PhD degree.