We believe the 7.5%-9.5% constant currency (CC) revenue growth guidance for FY20 (inclusive of inorganic elements) of Infosys looks a bit conservative with: (1) total large deal TCV in FY19 at >2x that of FY18 and new deal TCV at 3.4x and that too spread across multiple verticals.
Infosys reported inline Q4FY19 revenue performance but sharp miss on margins due to large deal impact & investments on people. Management guided a lower than expected revenue growth for FY20E due to uncertain macro environment.
Infosys has announced strategic partnership with ABN AMRO by acquiring 75% shareholding in Stater NV (a subsidiary of ABN AMRO) which provides pure-play, end-to-end mortgage administration services in Netherlands, Belgium and Germany.
Infosys Limited (INFLTD) is the second-largest IT services company in India providing consulting and IT services to clients globally. It is also among the fastest growing IT services organization in the world and a leader in the offshore services space with a pioneer in Global delivery model.
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