Will FY24 be a year of 2-3% growth or further decline for Tech Mahindra? Here’s what the management says

economictimes.indiatimes.com:

CP Gurnani, MD & CEO, Mohit Joshi, CEO designate and Rohit Anand, CFO, Tech Mahindra, in conversation with ET Now, after the company missed estimates and profit drops 39% for the first quarter.Gurnani says he feels encouraged because the overall deal pipeline is very strong. “All the changes were earlier in my planning. I used to take a forecast date plus minus one quarter.

I think because of certain uncertainties in the market or certain sectorial uncertainties, now it is plus minus two quarters.”You have said that this has been one of the most challenging quarters. Is this actually the worst or is the pain going to continue for a couple of more quarters?CP Gurnani: I strongly believe that we have an opportunity to improve from where we are. That opportunity to improve comes from four facts; number one is our people investments; number two, technology investments.

Number three, deep relationship with the customers, and number four is that our investments in communications and in AI will create better solutions for the market. It is a situation where some of our verticals are slowing down because they need to repurpose themselves. It is not that they are going to slow down forever.

That is why I remain optimistic. And I am very sure that we will see a recovery.Mohit, this is our first conversation with you as the CEO designate. What are going to be the key priorities for Tech Mahindra because you have toured India and the globe extensively over the last few weeks. What have client conversations really been like?Mohit Joshi: It is slightly over a month since I joined.