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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Happiest Minds bets on SaaS, HaaS to drive growth amid market slump
IT services company Happiest Minds Technologies announced strategic changes to strengthen products, software-as-a-service (SaaS) and a soon-to-be launched healthcare-as-a-service (HaaS) solutions.
On Wednesday, shares of Happiest Minds Technologies touched a 52-week low for the second consecutive day to reach Rs 620.20 on the BSE, before ending slightly higher at Rs 624.10 per share.
At a press conference around a month before its fourth quarter and full year earnings the Bengaluru-headquartered company said it has drawn up plans to expand its business to the private equity (PE) ecosystem, global capability centres (GCCs) and a strategy to focus on high potential large accounts.
The high potential accounts plan will include “creating a large accounts focus strategy which will take about 10-15 of our $2-3 million accounts and raise them to $10-15 million and $20 million,” said Ashok Soota, chairman and chief mentor of the company.
Acknowledging that FY25 is witnessing flat growth for some of the majors and negative growth for a few other companies, Soota hopes the changes will help Happiest Minds deliver double-digit growth.
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“The market is predicting a US slowdown or recession. This has clouded the prospects for the Indian IT industry. We want to state emphatically that at Happiest Minds, we see no recession driven slowdown,” Soota said adding that the transformational changes will aid organic growth for the next two years.
Soota sees GenAI as one such opportunity than anything else as it is
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Even at $5 trillion, Nvidia is underappreciated
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21.05 / 09:47
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