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IT sector guidance unlikely to see downward revision

Information Technology industry body, NASSCOM (National Association of Software and Services Companies) is unlikely to revise its guidance for the Indian IT sector in its upcoming mid-year review.

Published: 05th November 2013 02:39 AM  |   Last Updated: 05th November 2013 02:39 AM   |  A+A-

Information Technology industry body, NASSCOM (National Association of Software and Services Companies) is unlikely to revise its guidance for the Indian IT sector in its upcoming mid-year review.

The forum had set a growth target of 12-14 per cent for the sector for FY14. Sources indicate that the sector is likely to be in the middle or upper end of the provided guidance. IT bellwethers Tata Consultancy Services (TCS), Infosys and Wipro recently reported results on the line of Street expectations.

The high expectations from the industry is also an indication of the broader bandwidth guidance they have been giving in recent times.

The forum had to revise its guidance in FY13 due to a large number of IT companies reporting dismal performance.

Majority of the IT companies reported performance numbers in line with expectations in the second quarter (Q2 FY14) of this fiscal.

But the same trend is unlikely to continue in the third quarter due to the holiday season as well as furloughs. “It is unlikely that there will be a downward revision,” IT experts who did not want to be named told Express.

According to the industry forum, the Indian software export is expected to grow by 12-14 per cent in the current fiscal and the domestic market is likely to grow at 13-15 per cent.

Nasscom has forecasted that the industry will add revenues of $12-15 billion in FY14 and reach $84-87 billion this fiscal.



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