TCS set to increase Brazil revenues

August 19th 2013 - Monday

Tata Consultancy Services (TCS) is looking to raise Brazil's revenue contribution from the current 20% of the group's total Latin American revenues to almost a third by 2016, according to a company statement.

In parallel, the company aims to expand its local workforce, hiring around 2,000 people to triple the current number of professionals working in Brazil in the next three years.

Services related to fast-growing IT trends such as cloud computing, mobile internet, big data and high-performance computing are TCS's focus in its strategy to expand it footprint in the Brazilian market, the company said.

TCS expects its Latin America sales to reach US$1 billion by 2016, which would be 4% of global revenues, and aims to have over 20,000 employees working in the region by the same year. In the firm's fiscal Q1 ended June 30, Latin America was its fastest growing region, with revenue growth of 43.3% year-on-year, well above worldwide growth of 21.0%.