Blackstone-backed mid-sized IT company Mphasis has had a good growth track record over the last three years which has been recognised by the market. Mphasis’ shares have increased more than fivefold in the last five years, bettering market returns than some of its large peers like TCS and Infosys.
A large part of the credit, in terms of turning around the company’s fortunes, should go to Nitin Rakesh – the CEO of the company – who has led a strategy of mining deeper, existing clients, even as he has added new lines of business. In an interview with BusinessLine, the CEO spoke about the strategies to sustain and accelerate the growth momentum for the future. Excerpts:
Mphasis has had a good growth track record over the last couple of years after a few stumbles previously. What changed?
It has definitely been a good couple of years in terms of growth, positioning and momentum. This is evident in our revenue growth, or other metrics like deal wins and so on. This is not something that happened out of the blue. There were a lot of things that came together. Planning is everything.
We were at the right place, with the right services, at the right time. The bets we made in 2017-18 are the reason why we are in the position where we are today, gaining disproportionate share in wallet gain and market share with some of our large clients.
From a momentum perspective, we have demonstrated the fact that in our chosen size, markets, and set of services, we have been able to carve out a position for ourselves, which we believe is unique and sustainable. All our top clients have grown nicely.
In the direct segment of business ..
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