Mahindra Satyam, a global consulting and IT services provider, today announced the first quarter financial results for the year and is expecting more growth in the Middle East and African (MEA) region to be driven in by the emerging presence of new domains, markets and industry verticals.
According to recent performance reports, the company posted over USD 320 million in global revenue up 5.2% from last quarter and 19.3% from last year.
According to Mahindra Satyam, the company is looking towards more growth in the MEA region with an increased stronghold in public sector (healthcare, e-government, and communications), oil & gas, and the sports industry.
Mahindra Satyam also added that the organisation is seeing immense potential for Business Intelligence (BI), Enterprise Asset Management (EAM) and Mobility for the rest of the fiscal year.
“Mahindra Satyam has posted excellent growth figures for the first quarter of the present fiscal year. The increase in revenue demonstrates the continuous positive response that we have received towards our commitment to leverage key IT solutions and services across various industry verticals in the Middle East,” said Bobby Gupta, VP and head of MENA region, Mahindra Satyam. “We are expecting more growth with the development of more smart cities in the region and accompanying industry verticals like the sports industry. We are also aiming to play a major role in the region’s development and emergence as a global IT destination,” he added.
According to the company, it has won major contracts over the last few months in the UAE, Qatar and also Saudi Arabia. The company has now also revealed its move towards exploring opportunities in Turkey, following its recent work with a Turkish Smart Metering company.
“These are exciting times for the Middle East and African region’s IT market, reflecting a continuous growth that spells growth and development. Taking advantage of the market’s vibrancy, we are pushing Business Intelligence, Enterprise Asset Management, Mobility, Analytics and Cloud Computing services as our next areas of growth across strategic industry verticals. Ultimately, we are confident that our pipeline of projects for the next twelve months will consolidate our leadership in the region,” concluded Gupta.
