Friday, October 13, 2006

Murthy’s out, not Infy!

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25 years and still going stronger than ever before. The technology powerhouse, Infosys, was a dream of the seven soft ware engineers – spearheaded by N. R. Narayana Murthy. With an initial capital base of merely Rs.10,000 pieced together in the scorching heat of July 1981, it surely hasn’t been smooth rolling all the way; in fact, one of the partners opted out of the venture after spending 8 years. But the remaining six musketeers rallied on. In February 1993, the emerging company opened at the Indian stock exchange at a premium of Rs.85 on their Rs.10 share. Many guff awed at the high price quoted and it raised only Rs.131 million. And of those who did invest, foreign investors outnumbered the ordinary Indian retail investor. Infosys seemed a hapless little fish in the ocean of sharks.

Of course, this fish has now garnered a rock-solid reputation in the domestic and global arena. Ranked today as one of the most profitable companies in India, the milestone was actually laid down in 1999, when its revenues zoomed beyond $100 million. Attaining the coveted SEI-CMM Level 5, that year, Infosys became the first company in the history of India to be listed on the Nasdaq!

In its quest for a true global presence, the company opened offices in US, UK, Canada, France, Hong Kong, United Arab Emirates and Argentina. In 2001, it shot past the astounding revenue mark of $400 million. Netherlands, Singapore and Switzerland too came under the spotlight of Infosys, subsequently.

The venerated icon of the IT industry has an employee strength of over 58,000 worldwide, and is still expanding. Nandan Nilekani, CEO, Infosys emphasizes “Our focus on enhancing skills and domain expertise across the organisation is yielding impressive results. We have built a scalable delivery engine and will continue to invest substantially in systems and processes.” The company’s consulting and off shoring strategy is paying rich dividends, quite literally – this April, the company declared a super colossal revenue of $2 billion and an astronomical $555 million in profits (with a commodious growth rate of 32% in profits and 35% in sales) and gave a bonus of 1:1. With a tagline of “Powered by intellect, driven by values”, one can only expect things to get exorbitantly better. On August 20, 2006, Narayana Murthy retired from office as per the rigid Infosys governance rules. Murthy might be out, but Infosys surely isn’t! Here’s raising a toast to the #1 profitable IT firm, that is #4 in the entire business arena!!

For Complete IIPM Article, Click on IIPM Article

Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

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