Infosys pushing for more private sector biz for India

Infosys is looking to boost its private sector business in order to reduce its reliance on big contract government deals.

The outsourcing giant will aim for smaller deals from a larger number of private sector clients for higher revenue as part of the initiative, according to the Times of India report on Friday.

"We realized that most of our revenue was coming from the public sector. Public sector has its own nuances and characteristic," C. N. Raghupathi, head of the India business unit at Infosys, said in the article. He added the company was rejigging its portfolio mix as it did not want to keep all its eggs in one basket.
The move could be part of a plan to revive sluggish growth as seen by the India unit in recent years, according to TOI. Raghupathi has projected the local unit's contribution to hit 10 percent to overall earnings by 2015, but it is currently only 2.6 percent compared to around 1.9 percent in 2011.
Raghupathi noted the company was also eyeing small contracts in the public sector related to big data and analytics, and was involved in intelligence and defense projects. 
In Q1 results release last month, Infosys saw its net profit grow 0.5 percent for the three months ended June at US$418 million. This paled in comparison with the growth seen by other rivals such as TCS and Wipro, which booked an over 10 percent rise in profit.