HCL Tech eyes non-traditional markets like China, Japan, Korea

Summary:Indian IT software services provider believes further tapping non-traditional markets where it is not present significantly will drive company's next wave of growth.

Indian IT software services provider, HCL Technologies, believes tapping non-traditional markets where it is not present significantly will drive company's next wave of growth.

The next big growth drivers for the company would be from newer geographies like Japan, China, and South Korea, according to Shiv Nadar, chairman of HCL Tech, in a report Monday by Times of India (TOI).

"These are big economies where HCL is not present in any significant way, I see these as huge business opportunities for the company and growth drivers in three to four years and beyond," said Nadar in the article.

He added the best had "yet to come", and pointed out the company's new breed of young managers were very aggressive and would drive the growth story for HCL Tech.

In October, HCL Tech beat market expectations wih its first quarter results , which sent shares to its highest level in over 12 years. Net profit rose 78 percent to INR 8.85 billion (US$167 million) for the three months ended September--thanks to a boost from bigger margins and contract wins.

Topics: Outsourcing, India, Software

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Loves caption contests, leisurely strolls along supermarket aisles and watching How It's Made. Ryan has covered finance, politics, tech and sports for TV, radio and print. He is also co-author of best seller "Profit from the Panic". Ryan is an editor at ZDNet's Asia/Singapore office.

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