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Satyam Computer Services intends to decrease the US component of revenues by riding on the growth momentum in geographies such as India, West Asia and Australia. The Hyderabad based company is working on a plan to have a 50:50 mix, wherein revenues from the US would contribute 50 per cent to the companys topline from the current 60 per cent, according to Ram Mynampati, President, Commercial and Healthcare, Satyam Computer Services.
It is no secret that US market is facing a lot of challenge and is in a state of change. For the next few quarters, we expect greater growth to come from non US markets, he told journalists on the sidelines of an informal meet, here on Monday.
Satyam, which last week said the outlook for the banks and financial services segment was fluid, saw some nearterm challenges, although the medium and longterm prospects were very bright, President Ram Mynampati said at a news briefing.
Other markets outside of US are looking increasingly attractive, especially considering the situation in US now, Mynampati said. We are looking for growth in Asia Pacific, Australia, Singapore and the Middle East.
Over the next few quarters, the share of revenue from the US market is expected to fall to about half of Satyams total sales from about 60 per cent now, he said.
Satyam, which specialises in business software and offers outsourcing services, planned to shortly set up an IT backoffice centre in Mexico with about 100 people, Mynampati said.
The company was also exploring setting up another centre in Chile or Uruguay, he added. He declined to give the money involved or a timeline for these investments.
The West Asia and India operations of the company have been growing at more than 100 per cent.
However, he agrees that the Japanese market, which accounts for a meagre 2.5 per cent of the overall companys revenues, has stagnated. This is because of the cultural and linguistic difference between the countries, added Mynampati.
The company intends to set up two new development centres for both IT and BPO in Latin America.
We are targeting to have a centre in Mexico and are also evaluating a base either in Chile or Uruguay, said Mynampati. However, he did not specify a timeframe for this initiative.
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