Tuesday, April 15, 2008

Infosys Expects Sales Growth to Accelerate, Joining Accenture

By Harichandan Arakali

April 15 (Bloomberg) -- Infosys Technologies Ltd., India's second-largest software-services provider, forecast sales growth will accelerate this year, joining Accenture Ltd. in predicting the U.S. slowdown will spur clients to send more work overseas.

Revenue may rise as much as 21 percent to a record 202.1 billion rupees ($5.1 billion) in the 12 months ending March 31 from 166.9 billion rupees, Infosys said today. Shares rose after the Bangalore-based company's forecasts beat estimates by analysts including Citigroup Inc. and Macquarie Research.

New orders for managing computer networks and call centers from the U.S., the company's largest market, and the rupee's first drop against the dollar in seven quarters helped Infosys alleviate concerns that a global economic slowdown will curb earnings growth. Accenture last month raised its outlook as clients awarded more contracts to pare more

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