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Hexaware raises revenue guidance on US demand

21 Sep 2010 Evaluate

The Mumbai-based Hexaware Technologies revised its current quarter revenue guidance upwards, helped by renewed demand for software services in its top market US.  The guidance itself was revised only marginally to $ 60 million from $59 million — Hexaware’s growth is driven by better business from its top clients and its improved guidance comes on the back of two large wins of $110 million and $ 60 million announced earlier.

Hexaware’s $ 110-million contract is part enterprise software upgradation and part remote infrastructure management. The latter is lights-on spending and is typically part of cost-cutting efforts of customers. Hexaware has operations in Germany, Belgium, the UK and the Netherlands in Europe. The company had earlier estimated an addition of 1,000 employees in the year ending December 2010. The fact that it has already added more than 1,100 employees to its payroll indicates a buoyant demand scenario for the company. 

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