NEW DELHI: Tata Consultancy Services (TCS) CEO and MD Rajesh Gopinathan, who took charge from N Chandrasekaran as the latter moved to Tata Sons as its chairman, on Monday completed five years at the IT major. Under Gopinathan, the company has won many large deals, which led to a surge in total contract value (TCV), which was $7.6 billion for the quarter ended December 31, 2021. The number of $50 million clients have gone up by 25.5% from CY17 to CY21 and over $100 million clients are up by 56.75%, in the same comparable period, said the company.
During his 5 years at the helm, TCS touched cumulative revenue of $25 billion at the end of December 2021, up 42.5% from $18.5 billion when he took charge in February 2017. The company’s net profit has also climbed up to $4.5 billion last fiscal from $3.8 billion in 2016-17. Its employee strength also grew by 166,106 from 390,880 in CY17 to 556,986 in CY21.
In 2017, Gopinathan had said that the emergence of digital technologies, particularly IoT, big data, analytics and cloud, has significantly expanded the addressable market for the company. TCS believes that the next $25 billion revenue will be driven mainly by the growth and transformation projects undertaken by its clients helped by a move towards cloud-based offerings.
During the pandemic time, TCS’ transition to remote working was facilitated by its SBWS (Secure Borderless Workspaces) operating model. It also announced its 25 X 25 vision – by 2025, only 25% of TCS workforce will work out of TCS facilities at any time, with associates spending only 25% of their time in the office. And within project teams, only 25% of employees can be co-located.
In April 2018, TCS touched $100 billion in market cap and in September 2021, it touched $200 billion. TCS also said that under Gopinathan, it witnessed 67% increase in the number of women in senior leadership positions since FY16.