This diwali is brighter for software majors

With the festival of lights just around the corner, things this year are looking brighter and sweeter for the software majors compared to one that went by, when they were struggling to grapple with the effects of the global meltdown.

The mood among most firms is upbeat, 'much better, with the worst behind us', they said.

For the HR Head of IT bell-wether Infosys, Mohandas Pai 'the mood is very positive. We've had a good quarter. We promised a salary hike to our employees from October 1 and that is already on the roll', as he told PTI.

Backed by an improved economic climate and slow easing of pricing pressure, India' second largest software exporter posted a net profit of Rs 1,540 crore (Rs 15.4 billion) for the quarter ended September 30, 2009, registering a year-on year growth of 7.5 per cent.

For Wipro Technlogies, positive vibrations of the festival, which is a harbinger of happiness and well-being, are manifesting itself in the market place.

"The positive vibes of the festive season have been reflected in the market sentiments and the workforce in general", said Manish Dugar, chief finance officer Wipro Technologies.

Totally in sync with Pai, Dugar describes the mood as 'definitely upbeat and this festival season has been more positive compared to last year's Diwali'.

Pai, who wishes to put behind the 'worst period', says, "This time last year, we were apprehensive about the market place,there was an air of uncertainty,which is not there now".

According to Dugar, "In comparison between the situation last year and this year, we have seen an increase in the deal pipeline and the decision making at the customer's end has been quicker and the worst is behind us".

For Mohan Sitharam, director, people function, MindTree Limited, "The mood last time was low-key. People were apprehensive about what to expect next.

"However, we as a company, whether things were good or bad, have never taken a decision that has impacted our employees", he said.

"Now, of course", says Sitharam, "the ambiguity is behind us, the mood is much better and things are looking up". The firms however are not planning any Diwali bashes for their employees as the feel "the festival is not a corporate but an individual affair".

"As a global company", says Dugar, "The employees do celebrate festivals in their respective regions with family and friends like they do on Diwali".