TCS domestic revenue grows 8-10%

Tata Consultancy Services, the country's largest software exporter by revenue, today said it is currently seeing an 8-10 per cent growth in revenue from domestic operations and is eyeing a double-digit growth in the next two years.

The IT major said the deal cycle has returned to pre-crisis levels.

"Current run-rate of ours in the domestic business growth is 8-10 per cent and we hope to maintain and take it to higher double-digit in the next two-years. The deal cycle has come back to normalcy...that is the pre-crises levels. The pricing is currently stable," TCS chief executive officer and managing director, N Chandrasekharan, told reporters on the sidelines of the NASSCOM summit.

Chandrasekaran said the company had signed a few large deals as well as a number of smaller ones.

"The financial services sector will drive growth. We expect good growth from retail, pharma and utilities," he said.

The company, however, expects a lesser growth from verticals such as telecom and manufacturing.

Chandrasekaran said the company will hike salaries of its employees in the coming fiscal, but did not give details.

"We are on a path to hire 1,000 people. We have already hired 300," he said, replying to a query on hiring plans for the current fiscal.