In an exclusive interview with ET Now, Suresh Senapaty, Chief Financial Officer, Wipro, gives his sense of the company's acquisition and growth plans. Excerpts:
ET Now: Please give us a sense on your acquisition plans.
Suresh Senapaty: We have been very active so far as acquisitions are concerned. We continue to be active. There is an independent department working on it and our objective for acquisition is not aggregation, but to clearly fill in the gaps either. It is for addressing some geographies, addressing some practices where we do not have a critical mass. So, supplementation to our organic growth is clearly our motto and from that point of view, clearly we are looking at investing in technology, new geographies and also momentum verticals.
ET Now: Any particular geography that you are looking at?
Suresh Senapaty: No, we have not spelled them out, but there are identified geographies where we do not have critical mass in comparison to the kind of opportunities that are there.
ET Now: Wipro beat street expectations like results, but when it comes to the core IT services, they did not do as well as the peers. So where would you say had Wipro gone wrong?
Suresh Senapaty: We are in a particular direction, we are at a particular stage of our journey and in that context what we have anticipated, what we have guided, what we have spoken, we are staying course and we are happy with what we did.
ET Now: Both Gartner and Nasscom have indicated much better times ahead for the IT industry in 2013. Is that the sense you are getting from your clients?
Suresh Senapaty: I have nothing to disbelief that. I am sure there will be better times. Future years will be better times absolutely.
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