Cognizant set to bag 3rd spot in Indian IT World

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

Cognizant set to bag 3rd spot in Indian IT World

Cognizant is all set to become the country's third largest IT services provider, replacing Wipro, industry report reveals. Wipro reported IT services revenues at $1.408 billion for the April-June quarter. This is about $40 million less than Cognizant's April-June quarter revenue guidance of $1.45 billion.

An analyst Tientsin Huang, in a report on Cognizant dated July 15 drew a revenue estimate of $1.46 billion for the company in the April-June quarter. Huang expects an upside in revenues because of Cognizant's track record of reporting premium growth in the June quarter and its more favorable regional mix (larger proportion of North America). Cognizant's $1.45 billion April-June guidance is also greater than the lower end of Wipro's July-September revenue guidance of between $1.436-1.464 billion.

The underlying business fundamentals for the IT sector are healthy as the recently announced strong quarterly earnings of TCS, IBM and Accenture suggest. Therefore, Cognizant is expected to meet if not beat its guidance.

In the April-June quarter of 2008, Cognizant trailed Wipro by $383 million in revenues. Analysts say that Cognizant's focus on faster growth rates and market share gain with lower margins has helped it close the gap with Wipro. It invests significantly higher than its peers in sales and marketing and employs a larger proportion of highly qualified MBAs.

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