Tata Consultancy Services has estimated to earn revenues worth $200 million by 2010 from its South African operations against $28 million in 2005-06.
TCS, one of the first Indian software companies to enter South Africa in 1995, expects the banking industry and government-related business to be the main drivers for its growth in the market there.
"TCS has been operating in South Africa for a decade. We are doubling our revenues in every two years. We are striving to further enhance this growth rate," said Rajeev Gupta, resident manager (South Africa), TCS.
Its revenue in the current financial year may touch $49 million while the company is aiming to take it to $125 million by 2009.
Gupta said that 2005-06 was a defining year for TCS in South Africa as it made inroads in the government business.
"These assignments are for consulting and will subsequently move up when the implementation of the projects are initiated," he said.
Among the government business bagged this year include department of justice, University of the Witwatersand (Wits), economic affairs (DFEA), Limpopo government and Gauteng department of finance.
At present, government business accounts for 10 per cent of TCS' total revenue from the region. Other major clients include the South Africa Broadcasting Corporation, Anglo Platinum, Johannesburg Stock Exchange and AIG South Africa.
In the banking space, TCS's products Quartz and NCS have been implemented by First National Bank, Standard Corporate and Investment Bank and Barclays Africa.
TCS employs over 100 associates in the country and has two offices in Johannesburg and Cape Town in addition to a regional support centre for its banking products.
As part of its expansion plans, TCS is exploring the possibility of setting up a regional development centre apart from having more products being supported from its RSC.
Meanwhile, the adult literacy initiative, for which TCS had teamed with WDB Trust (Women Development Bank), is progressing well with over 350 women having been rendered functionally literate as a result of this computer-based literacy programme.
The programme which involves using computer as an training aid is founded on the principle of phonetics and recognition of words rather than alphabets.
The programme is likely to be extended to two more local languages in South Africa.
Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group
