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Mahindra Satyam RoW overtakes Europe

Anuradha Shukla | May 21, 2013
Findings from its net profit for fourth quarter report.

Mahindra Satyam's Singapore-headquartered Rest of World (RoW) has overtaken Europe in contribution to global revenue.

This has happened in the second consecutive year, according to the global consulting and IT services provider who announced its audited consolidated financial results under Indian Generally accepted accounting principles (GAAP) for its fourth quarter and year ended 31 March 2013.

Mahindra Satyam has made significant progress in China this quarter in terms of increasing headcount and adding engineering clients.

The company also acquired a large SAP consulting provider in Brazil called Complex IT and inked a partnership deal with TechMatrix for ASEAN region.

"The turnaround of Mahindra Satyam is symbolically and practically complete. The merger which is at its penultimate phase will embark a new chapter for Mahindra Satyam. We sincerely thank all stake holders for supporting us during this crucial phase," said Vineet Nayyar, chairman, Mahindra Satyam.

Multi-million contract

Financial Highlights for the quarter ended 31 March 2013 indicate that Mahindra Satyam landed a huge multi-year multi-million contract from a large APAC based Paper & Packaging giant.

This deal is for end-to-end ownership and business transformation for IT Applications and Infrastructure. Mahindra Satyam will be responsible for providing Engineering and Sourcing support for this client as per the contract.

Mahindra Satyam was selected by a utilities company based out of Middle East for CRM billing and implementation and support. It will also develop and transform the Warranty business for a US-based automobile company.

Other contracts in this quarter include a Business Process Management (BPM) project on integration of its competencies by an Indian Public Sector Enterprise; a significant deal in enhancing Manufacturing Operations based on Intelligent Manufacturing processes for a large natural resources company.

"The large deal win during this quarter is of particular significance and vindicates our investment of time and effort in this area," said CP Gurnani, CEO, Mahindra Satyam. "Our preparedness with Connected Solutions for a Connected World remains positive and we are hopeful of similar wins, which will help us accelerate our growth in the ensuing quarters."


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