SALIL PAREKH
AI gains fail to cool rising staff costs at Indian IT services firms
Although artificial intelligence (AI) and automation are changing the traditional labour-intensive model of IT services, they have yet to bring down employee costs for the country’s top six IT services companies—Tata Consultancy Services (TCS), Infosys, HCLTech, Wipro, Tech Mahindra and LTM (formerly LTIMindtree).
IT firms navigate peak pessimism by prioritising growth in stable Q2
Analysts said that artificial intelligence (AI) is becoming a significant revenue driver for the majority of Indian IT companies. However, they cautioned that near-term prospects remain muted due to pricing pressure and AI-driven deflation in traditional services.
AI services lift IT companies’ Q2 earnings: TCS doubles YoY intake, Infy reports 29% QoQ rise
The latest quarterly results from India's leading IT companies demonstrate remarkable growth, primarily driven by the surge in artificial intelligence services. Tata Consultancy Services saw its AI revenue double year-over-year, and both HCLTech and Infosys reported significant increases in profits and revenues. Wipro took a more cautious approach, not disclosing AI figures but emphasizing transformation for its clients through AI solutions.
Infosys Q2 net profit rises 6.2%; projects weakest growth in seven years
Revenue rose 10.7% yearly and 2.1% quarter-on-quarter to reach Rs 49,244 crore. Infosys lowered its guidance for 2026-27 to 1-2% in constant currency terms, its weakest estimate in seven years, down from an earlier range of 1.5-3%. Last quarter, it had trimmed the upper end from 3.5% earlier.
Infosys cuts FY27 guidance; Zetwerk's muted market debut
Infosys has lowered its FY27 revenue guidance despite a rise in Q2 profit. This and more in today’s ETtech Top 5.
Infosys CEO says macro recovery looks ‘a little bit more uneven’ than expected
Infosys has lowered its FY27 revenue growth forecast to 1-2%, indicating challenges in recovering technology spending. Chief executive Salil Parekh noted uneven market conditions, with some sectors yet to experience improvement. Despite growing AI-related revenue, traditional services are facing productivity compressions as clients aim to cut costs. The company achieved large deal wins worth $3.6 billion, with most being net new business.
- Go To Page 1
Infosys Q2 Results: Profit rises 6% YoY to Rs 7,823 crore; co lowers revenue guidance
Infosys Q2 Results: IT services major Infosys Ltd on Friday reported 6% year-on-year (YoY) growth in its consolidated net profit at Rs 7,823 crore in the second quarter. The same stood at Rs 7,364 crore in the year-ago period. The company has trimmed its revenue growth guidance to 1-2% in constant currency for FY27 as against 1.5-3% given earlier.
AI services may account for almost half of Infosys' work in 2-3 years: CEO Salil Parekh
Parekh said the business, which includes building AI agents, coding work and modernising old technology for clients, is small relative to the company's size but growing so fast that it could account for 20-30% of Infosys' work within a few quarters if the current pace continues.
High data centre, chip costs and cheaper AI models pose risks to capacity usage: Infosys CEO
High data centre and chip costs, coupled with emerging AI models offering cheaper inference, pose risks to AI infrastructure investments and future capacity utilisation, Infosys CEO Salil Parekh said.
a16z’s Raghuram isn't writing off India AI yet; insurers weigh new rules
Happy Monday! a16z’s Raghu Raghuram said India can build frontier AI companies by using its talent. This and more in today’s ETtech Morning Dispatch.
Infosys to move up to one-third workforce into specialist roles
The Bengaluru-based company is hiring from top Indian institutes and US campuses, often competing with AI labs for the same people, the management told its partners, advisers and analysts at a three-day annual Americas confluence in Washington, DC, last week, according to the people ET spoke with.
Inside Infosys' CEO pick: How Ashiss Kumar Dash rose from engineer to the corner office
Ashiss Kumar Dash will become Infosys CEO designate on April 1, 2027. He succeeds Salil Parekh after his term is complete. Dash built his career earning client and colleague trust over three decades. The board sought a leader driving transformation while preserving company culture. Parekh will ensure a smooth leadership transition until March 2027.
Some clients insist for work from office: Infosys CEO Salil Parekh
While responding to a shareholder's query on the 42nd Annual General Meeting of the company, Infosys chief executive officer and managing director Salil Parekh said that in future, there will be a need for more social capital where people will need to connect with each other to do new things, training, etc.
Infosys CEO Salil Parekh’s remuneration rises 43% to Rs 71 crore in FY22
Infosys CEO Salil Parekh's income increased as a result of stock incentives awarded in previous years, as well as a rise in his performance-based variable pay.
How Infosys performed under Salil Parekh as CEO since 2018
As far as Parekh's tenure is concerned, the annual consolidated total revenue for the IT firm rose from Rs 73,715 crore in FY18 to Rs 1,23,936 crore in FY22, while the consolidated net profit grew to Rs 22,112 crore in FY from Rs 16,029 crore in FY18.
Exclusive interview with Infosys CEO; tax officials email foreign tech firms on GST
“We don't see anything which gives me any concern”. But he added, “As we get more colour, we will look at (revisiting the revenue guidance) in the future.”
Infosys fixes I-T portal glitches after CEO Salil Parekh is summoned by Fin Min
Infosys says emergency maintenance on the tax filing website has concluded and that it is now live. Hours earlier, the finance ministry summoned Infosys CEO Salil Parekh to meet FM Nirmala Sitharaman on Monday to explain the glitches.
Finance Ministry summons Infosys CEO over glitches in IT e-filing portal
The Ministry of Finance has summoned Infosys MD and CEO, Salil Parekh on Monday over continuing glitches in the new income tax e-filing portal.
Infosys CEO Salil Parekh's compensation jumps 44% in FY21
Parekh’s compensation included Rs 30.99 crore in stock options and Rs 38 lakh in retiral benefits
Keeping up with changing times: Salil Parekh says empathy, vulnerability are critical; calls being a 'little paranoid' helpful
Salil Parekh shares how he helps his company keep up in the time of start-ups.
I have no tolerance for divisiveness of any form: Salil Parekh, CEO, Infosys
As the board investigates the anonymous complaints, Infosys CEO Salil Parekh said he was committed to executing the Infosys strategy and had served with commitment and integrity.
Infosys has new sops for staff, CEO Salil Parekh to get Rs 10 crore shares
CEO Salil Parekh will get shares worth Rs 10 crore under a new employee stock option plan.
Infosys looks for expert in place of Ravi Venkatesan
Currently, the board has eight members, including executives CEO Salil Parekh and COO Pravin Rao. Of them, Kiran Mazumdar Shaw and Roopa Kudva have completed six and five years respectively.
Infosys CEO Salil Parekh to receive annual performance-linked equity grant worth Rs 13 crore
The board of directors has also approved a change in the remuneration of company secretary AGS Manikantha, who will receive a fixed pay Rs 50.86 lakh per annum and variable bonus of Rs 13.87 lakh.
Salil Parekh may earn up to Rs 35 crore a year in Infosys
This means he can earn more than $5 million factoring in all stock-based and main salary and that is nearly half of what Vishal Sikka was offered.
Disrupt or be disrupted now: Salil Parekh, Infosys
Parekh said he is focused on the future of the $10.2-billion firm and is thrilled by its potential to grow in a digital world.
On Day 1, it’s smiles and selfies for new Infosys boss Salil Parekh
Parekh has also not had the time to update his LinkedIn profile yet.
Load More
