What the TCS bosses have in mind: A growth spurt in the year ahead
BENGALURU : India’s top IT services company will grow at its slowest pace this year, but for the year ahead, it has nothing short of a growth blitz in mind. Tata Consultancy Services (TCS) chief executive K. Krithivasan and Tata Sons chairman Natarajan Chandrasekaran huddled with the company’s top 800 executives last week to sketch out a detailed plan for the company’s future, two executives privy to the Abu Dhabi gathering said.
First, the headline goals. At the annual strategic retreat titled Blitz, CEO Krithivasan said he wants TCS to clock at least double-digit revenue growth in 2024-25. That would mean more than 10% growth, double the 5.2% dollar growth it is expected to report in 2023-24.
Its slowest growth since it went public in 2004 was 5.3% in the year ended March 2010. Even as he urged each executive to think of one bold idea that could become a big business opportunity, Chandrasekaran said he wants India to become a $10-billion market for TCS—a big (eventual) aspiration of a more than seven-fold increase from the current $1.4 billion. TCS clocked revenue of $27.9 billion in 2022-23.
The company does not give any revenue or profit guidance, so these comments give an insight into the management’s thinking. Next, the more specific goals. Krithivasan outlined the firm’s strategy, titled Refresh, Realign, and Reinvent or RRR, coincidentally the name of a superhit Telugu movie.
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