3i Infotech eyes government to improve its performance

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

3i Infotech Ltd. is eyeing the growing spending of government in an attempt to improve its performance. The company, which has a debt-to-equity ratio of 1.7, is hoping that the Government, along with its mainstay BFSI sector, will pull it out of its difficult times and reduce the debt-to-equity ratio to 1.1 by March 31, 2012 or sooner, though some analysts have expressed scepticism regarding this.

Pankaj Chawla, President, India, APAC and MEA Markets, shared, "In the calendar year 2012, 40-50 per cent of the India business will come from Government spending. While BFSI is growing at around 15-20 per cent, Government spending is growing at double the rate and in India it is growing at a rate of 40-50 per cent."

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