PROJECT REPORT

On

(Infosys)

Submitted in Partial Fulfillment of the Requirements of

Bachelor of Business Administration

Of

Guru Govind Singh Indraprastha University

Submitted by: Name -Akshay Suresh

Enrollment No.-12214201709
Semester-III-B(M)
Jagannath International Management School

Vasant Kunj, New Delhi – 70

_____________________________________________________________

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 CERTIFICATE

This is to certify that Mr. Akshay Suresh student of BBA, “JIMS , New Delhi, has carried

out project work on the topic of “INFOSYS” under my guidance . He has put in a lot of

effort and hard work.

He has done good work with us I wish him all the best for bright future.

Project Guide

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 ACKNOWLEDGEMENT
The completion of project report on “INFOSYS” has given me immense pleasure
and knowledge.

Obligations were heavy during my project work and it is a great pleasure to

acknowledge deep sense of gratitude to my guide Ms. Neelam Dasgupta for her
valuable guidance, advice, positive criticism, suggestion and constant
encouragement throughout the project.

I would also like to thank sincerely to my cousins and friends for their
help and guidance during this task.

Last but not least we are thankful to all of them who directly or indirectly helped
us in computing this report successful

AKSHAY SURESH

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 List of contents

1) Introduction

2) Company overview

3) History

4) Core Services

5) Revenue Segments

6) Key People

7) Key competitors

8) Key Clients

9) Future Steps

10) Financial Reports

11) Latest Developments

12) Analysis

13) Goals

14) References

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 Infosys Technologies Limited

TYPE - Public

BSE - 500209

NASDAQ - Infy

FOUNDED - July 2, 1981

HEAD QUARTERS - Bangalore, India

KEY PEOPLE - N.R.Narayana Murthy (chairman) Kris

Gopalakrishna (CEO) & (Director)

INDUSTRY - Software services

PRODUCTS - IT service

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SERVICES - Information Technology consulting services &

solutions

REVENUE - US$3.16 billion (2009)

NET INCOME - US$1.16 billion (2009)

EMPLOYEES - 1,03,905 (2009)

WEBSITE - Infosys.com

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 Company Overview

Infosys Technologies Limited (Infosys), incorporated on July 2, 1981, is a global

technology services firm that defines, designs and delivers information technology

(IT)-enabled business solutions to its clients. The Company provides end-to-end

business solutions that leverage technology for its clients, including consulting,

design, development, software re-engineering, maintenance, systems integration,

package evaluation, and implementation and infrastructure management services.

Infosys also provides software products to the banking industry. Infosys BPO

(formerly Progeon Limited) is a majority owned subsidiary. Infosys Australia,

Infosys China and Infosys Consulting are the Company's wholly owned

subsidiaries. In June 2006, Infosys acquired the shares in Infosys BPO held by

Citicorp International Finance Corporation (CIFC). As a result, Infosys effectively

holds 99.98% of the equity share capital of Infosys BPO as of March 31, 2007.

The Company complements its service offerings with specialist support for clients

using its domain competency group that has expertise in areas, such as securities,

insurance, telecommunication, banking and cash management, supply chain

management, manufacturing, retail and distribution, energy and utilities,

healthcare, and travel and tourism. It also uses its software engineering group and

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technology lab to create customized solutions for its clients. In addition, it

continually evaluates and trains its professionals in new technologies and

methodologies.

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 HISTORY
Established in 1981, Infosys is a NASDAQ listed global consulting and IT services

company with more than 105,000 employees. From a capital of US$ 250, we have

grown to become a US$ 4 billion company with a market capitalization of

approximately US$ 27 billion. In our journey of over 28 years, we have catalyzed

some of the major changes that have led to India's emergence as the global

destination for software services talent. We pioneered the Global Delivery Model

and became the first IT Company from India to be listed on NASDAQ. Our

employee stock options program created some of India's first salaried millionaires.

Infosys Technologies Limited is a leader in software development and was co

founded by N.R. Narayana Murthy and a group of seven IT professionals in the

year 1981 with an investment of $1000. He emerged as the company's chairman

and CEO and is regarded as a great manager because of his numerical abilities and

Western style of management. It has created several firsts in Indian industry like

being the first Indian company to be listed on NASDAQ in 1999 and the first to

provide employee stock options plan (ESOP).

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The company opened its first international office in USA in 1987. It became a

public limited company in 1992 and offered its IPO in three of the nine Indian

exchanges in 1993. It received its ISO 2001 certification in 1993 and opened other

development centers in India in 1995.

By 1995 the firm was worth $200 million, had 900 employees and annual revenue

of $20 million. It opened its first European office in United Kingdom in 1996.

Infosys established its headquarters in Bangalore as there the workforces were not

required to be unionized, benefits to the workforce were relatively a minor cost,

and there was a huge potential for profit.

The late 1990s was a time for exponential growth and the main reason for this was

its offshore software development model. By 2000 its market capitalization was

more than $20 billion.

In 2003 it established subsidiaries in China and Australia. In 2004 it crossed $1

billion in revenue. In 2006 its revenue crossed $2 billion and it completed 25 years.

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 Core Services

Custom Application Development

• The Company provides customized software solutions for its clients.

Infosys creates new applications and enhances the functionality of its

clients' existing software applications. The Company's projects vary in

size and duration.

• The Company's application development services span the entire

range of mainframe, client server and Internet technologies. An

increasing proportion of Infosys' applications development engagements

are related to emerging platforms, such as Microsoft's .NET or open

platforms, such as Java 2 Enterprise Edition (J2EE) and Linux

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 Maintenance and Production Support

Infosys provides maintenance services for its clients' large software systems that

cover a range of technologies and businesses, and are typically critical to a client's

business. The Company focuses on long-term functionality, stability and

preventive maintenance to avoid problems that typically arise from incomplete or

short-term solutions. While Infosys performs most of the maintenance work at its

global development centers using secure and redundant communication links to its

client's systems, it also maintain a team at the client's facility to coordinate certain

key interface and support functions

Software Re-engineering

The Company's software re-engineering services assist its clients in

converting their existing IT systems to newer technologies and platforms

developed by third-party vendors. Infosys' re-engineering services

include Web-enabling its clients' existing legacy systems, database

migration, implementing product upgrades, and platform migrations,

such as mainframe to client-server and client-server to Internet

platforms.

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Package Evaluation and Implementation

• Infosys assists its clients in the evaluation and implementation of

software packages developed by third-party vendors. It also provides

training and support services in the course of their implementation.

• The Company specializes in enterprise resource planning packages

developed by vendors, including Oracle, PeopleSoft, Retek and SAP;

supply chain management packages developed by vendors, including i2,

Manugistics and Oracle; customer relationship management packages

developed by vendors, including PeopleSoft (Vantive) and Siebel;

business intelligence packages developed by vendors, such as Business

Objects and Cognos, and enterprise application integration packages

developed by vendors, such as IBM and TIBCO.

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Information Technology Consulting

• The Company's IT consulting professionals assist its clients by

providing technical advice in developing and recommending appropriate

IT architecture, hardware and software specifications to deliver IT

solutions designed to meet specific business and computing objectives.

• Infosys offers IT consulting in the areas of migration planning,

institution-wide implementation and overall project management

involving multiple vendors under a common architecture; IT

infrastructure assessment, which includes assessing its clients' IT

capabilities against existing and future business requirements and

recommending appropriate technology infrastructure, and technology

roadmap

• development, which allows clients to evaluate emerging technologies

and develop the standards and methodologies for applying those

emerging technologies.

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Other Solutions

• Infosys' service offerings including testing services,

engineering services, business process management, systems

integration, infrastructure management, and operational and

business process consulting. The Company offers end-to-end

validation solutions and services, including enterprise test

management, performance benchmarking, test automation and

product certification.

• For each particular client, Infosys focuses on developing a

framework for ongoing testing in order to seek continuous

improvement in the predictability of its client's internal systems.

The Company's service professionals are trained in test

management tools from developers, such as Mercury

Interactive, IBM-Rational and Segue.

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 Finacle

• Finacle®, the universal banking solution from Infosys, helps

banks by enabling them to shift their strategic and operational

priorities. It maximizes their opportunities for growth ,while

minimizing the risks that come with large-scale business

transformation

• Finacle® currently powers 91 banks across 54 countries,

helping them serve over 100 million customers, 150 million

accounts, 80,000users and supporting over 36 million peak

banking transactions per day spread across multiple installations

Finacle from infosys

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Original author(s) Infosys

Developer(s) infosys

Initial release 1999

Stable release 3.06 / January 11, 2009; 19 months ago

Development status Active

Written in Java

Operating system Cross-platform

Type Banking and financial suite

License Q Public License

Website http://www.infosys.com/finacle/

Key industries

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Infosys serves various industries through its vertical business units,

such as:

• Aerospace and Automobile (ANA)

• Banking & Capital Markets (BCM)

• Communication Service Providers (CSP)

• Resources, Energy & Utilities (REU)

• Hi Tech & Discrete Manufacturing (HTDM)

• Insurance, Healthcare & Life Sciences (IHL)

• Media and Entertainment

• Product Lifecycle and Engineering Solutions (PLES)

• Retail, Distribution & CPG (RETL)

• Transportation & Services (TNS)

• Independent Validation Solutions (IVS) - provides

software testing services.

• IT Infrastructure Management Services (IMS) -

manages core networks, data centers and servers of clients.

• Real Estate

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 • Life science

In addition to these, there are business units aligned to clients'

geographies, such as EMEA (Europe, Middle East & Africa),

APAC (Asia-Pacific) and CAND (Canada). There are also

horizontal business units such as ES (Enterprise Solutions), which

specializes in ERP and package implementation and works with

clients across industries and geographies and SI (Systems

Integration), which provides integration services to clients

Revenue Segments

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Geography

2007 2006 2005 2004 2003

North America 63.3 64.8 65.2 71.2 73.0
Europe 26.4 24.5 22.3 19.2 17.7
India 1.6 1.7 1.9 1.4 2.1
Rest of the World 8.7 9.0 10.6 8.2 7.2
Total 100.0 100.0 100.0 100.0 100.0

Industry Segmentation

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 2007 2006 2005 2004 2003

Services 21.0 20.2 23.2 25.7 32.1

Development 29.3 30.2 29.9 30.1 28.2
Maintenance 17.5 16.2 15.2 14.5 11.0
Package implementation 6.9 5.9 5.8 5.3 3.4
Testing 2007 2.1 2006 4.7 2005 6.2 2004 6.0 20035.5
Manufacturing
Re-engineering 13.5
3.6 13.9
3.5 14.4
3.6 3.714.8 16.4
4.3
Banking
Consulting financial service 37.4
4.7 36.0
4.0 34.6
2.7 1.636.6 37.6
0.5
Business process 1.6 1.8 2.0 2.2 2.6
and insurance
Banking
managementand financial 30.2 28.5 25.2 23.7 23.3
Engineering services 9.4 9.7 8.4 8.1 7.8
service
Other services 96.1 96.2 97.0 97.2 95.4
Telecom 7.2 7.5 9.4 12.9 14.3
Total services 3.9 3.8 3.0 2.8 4.6
Retail 19.3 16.5 18.5 16.6 15.2
Products 100.0 100.0 100.0 100.0 100.0
Energy and utilities 10.0 10.1 9.8 11.6 11.4
Total
Transportation 5.3 4.7 3.2 3.0 2.9
Others 2.4 5.1 7.6 7.1 6.8
Total 12.1 13.7 11.9 10.3 9.7
100.0 100.0 100.0 100.0 100.0

Service Offering

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 Key People

Nilekani, Nandan M. 52 1987 Co-Chairman of the Board Trade

Activity
Murthy, N. R. 60 1981 Non-Executive Chairman of the Trade

Narayana Board and Chief Mentor Activity

Gopalakrishnan, S. 52 1987 Chief Executive Officer and Trade

Managing Director Activity

Bal Krishnan, Vibin 42 1999 Chief Financial Officer Trade

Activity
Shibulal, S. D. 52 1997 Chief Operating Officer, Director Trade

Activity
Parvatheesam, K. -- 2006 Secretary, Compliance Officer Trade

Activity
Pai, T. V. Mohandas 48 1994 Director and Head - Administration, Trade

Education & Research and Human Activity

Resources, Director
Krishnaswamy, 52 1996 Head - Communication Design Trade

Dinesh Group, Information Systems, Quality Activity

& Productivity, Director

Batni, Srinath 52 1996 Group Co Head - World-wide Trade

Customer Delivery, Director Activity

Key Competitors

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• Offshore Technology services firms such as Cognizant

Technologies, Satyam Computer Services, Tata

Consultancy Services and Wipro

• Consulting firms as Accenture , Cap Gemini

• IT Outsourcing firms such as EDS ,CSC

Key Clients

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ABN AMRO

AIRBUS

AETNA INC

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GOLDMAN SACHS

During fiscal 2007, 95.3% of revenues came as repeat business

and during 2006, 95.0% revenues came from repeat business from

existing clients

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 FUTURE STEPS

1. More keen on large deals. The margin dilution from large deals has

been a point of concern in the past at Infosys. However, while the initial

margin profile can be extremely wavy, it is possible to improve margins

later in the life of the contract through reduced G&A overheads. Infosys,

in its recent analyst meet, mentioned that a dedicated team was now

working on large deals. We expect greater focus ahead in this area.

2. Increased focus on solution based offerings in both IT services and

BPO. Infosys has developed ~50 solution based offerings in the IT

services space and believes that some of these can help break the

linearity between revenue and manpower growth in the business. In BPO

as well, its first platform based BPO offering is likely to be launched

soon.

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3. Willingness to explore new deal structures. The market was surprised

when Infosys paid an upfront $28m for the $250m/7-year Phillips BPO

deal. While TCS had made such a payment in the case of Pearl BPO

earlier, Infosys’ willingness to do so was certainly a shift from the past.

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 Company Strategy for future

• Increase businesses from existing and new clients

• Expand geographically

• Continue to develop deep industry knowledge

• Enhance brand visibility

• Pursue alliance and strategic acquisitions

• Continue to invest in infrastructure and employees

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Infosys's hiring plans for the year (2009):

Most of the companies rapidly cutting their losses by

employing massive retrenchment drive, firing thousands

of employees or offering them early separation schemes.

However, despite the massive economic turmoil across

the globe, there are still some companies that are looking

to hire skilled candidates. One of these companies is

Infosys. The company intends to stick to its plan of hiring

25,000 people this fiscal year.

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Infosys plans acquisitions in Brazil and Mexico

(JUNE 16, 2009)

Infosys is trying to acquire a few companies in Mexico and

Brazil to expand its delivery capabilities. The company's first

centre will be operational in Brazil in next three to four months.

Infosys has currently employed about 250 people in Mexico and

hence feels the need to have local facility to attract local

business. "We are looking for some very targeted acquisition

with specific criteria," said Dheeshjith V G, Head, New Markets

and services, INFOSYS

Infosys had started focusing on Mexican market in last

six to seven months. According to Dheeshjith there has been

increase in the business from local clients and some companies

are looking to outsource large deals. Around 20-25 percent of

the total business in Infosys' Mexico subsidiary comes from

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multinational companies that have operations in Mexico while

the rest of the business comes from clients in North America.

That is the reason why Infosys is stressing on local deals to

attract local customers.

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 Financial Report

Key Numbers

2007 Sales (mil.) $3,090.0

1-Year Sales Growth 43.6%
2007 Net Income (mil.) $850.0
1-Year Net Income Growth 53.2%
2007 Employees 72,200
1-Year Employee Growth 37.0%

Financials &Stock Performance

FINANCIAL HIGHLIGHTS

Fiscal Year
Fiscal Year Ends: 31-Mar
Most Recent Quarter (mrq): 30-Jun-07

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Profitability
Profit Margin (ttm): 27.96%
Operating Margin (ttm): 27.13%

Management Effectiveness
Return on Assets (ttm): 21.37%
Return on Equity (ttm): 39.37%

Income Statement
Revenue (ttm): 3.36B
Revenue Per Share (ttm): 6.01
Qtrly Revenue Growth (yoy): 40.60%
Gross Profit (ttm): 1.31B
EBITDA (ttm): 1.05B
Net Income Avl to Common (ttm): 939.00M
Diluted EPS (ttm): 1.65
Qtrly Earnings Growth (yoy): 51.10%

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Balance Sheet
Total Cash (mrq): 1.59B
Total Cash Per Share (mrq): 2.778
Total Debt (mrq): 0
Total Debt/Equity (mrq): N/A
Current Ratio (mrq): 6.302
Book Value Per Share (mrq): 5.33
Cash Flow Statement
Operating Cash Flow (ttm): 1.02B
Levered Free Cash Flow (ttm): 240.50M

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 Latest Developments

• NASDAQ-listed Infosys (INFY.O) will provide services like

application development, management and maintenance of railway

operations of Canadian Pacific, which operates a 13,500-mile (21,700-

kilometre) transcontinental railway, a company statement said

• Infosys Technologies Ltd. (INFY.BO) signed a $250 million

outsourcing contract with Royal Philips Electronics (PHG.AS:

Quote, Profile , Research) on Wednesday and bought three of the Dutch

firm's back-office centres to extend its presence in Europe.

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 Analysis

Key challenges faced by Infosys are :

• Rise in Wage levels on Indian IT workers.

Infy can overcome this risk by growing up the value chain so

that it can afford to increase its billing rates and still add value

to its customers .Second thing it can do is to move their

operations to second level cities in India that have low cost of

living and where wage pressure is less. One of the good steps

Infy has taken to this regard was by opening its Bhubaneswar

center. Its cost of living is way less than that of Bangalore.

Another good example is Gandhinagar where a Patni computer

was one of the first big IT companies to open its office.

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 • Change in exchange rates.
Infy should grow its client base in India and China where the

impact of foreign exchange is negligent. TCS is a good example

with this regard. Its 2006 revenues had 12.5% revenues

generated from India. This is around $300 mn. With the present

Indian IT market valued at $5bn (obtained from TCS's 2006

annual report) and expected to grow at 11%, Infy has scope of

getting a good market share.

• Rise in Infrastructure costs

Infy's 2006 capital expenses was $246mn compared to that of

$185mn in 2005. This is an increase of over 30%. In order to

continue this pace the company needs to invest a large amount of

capital in building new facilities. With recent surge in real estate

prices in India, Infy would face challenges in controlling its capital

expenditures towards expanding its facilities

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 • Inability to acquire foreign companies

The present Reserve Bank of India guidelines state that in ceratin

cases Indian companies have to take the central bank's permission

to acquire a foreign company. This increases the lead time required

to acquire a company.

• Backlash towards outsourcing in foreign

countries

One way is to employ local talent.Another way can be employing

virtual classroom techniques by which a person sitting in India can

get US experience that he would otherwise get by being physically

present in USA. Multinational companies like Accenture are doing

a great job in this front and are not so much dependent on wok

visas as the Indian companies like Infy.

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 • Present Tax benefits are limited till 2009

Most Indian IT companies are enjoying a tax holiday which

exempts them from taxes on exports performed from designated

export promotion zones. This helps Indian IT companies to reduce

their tax rate .But this benefit is only applicable till fiscal 2009.

After that the Indian IT companies would be taxed the same way as

other Indian companies

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 SWOT ANALYSIS

STRENGTHS

Leadership in sophisticated solutions that enable clients to

optimize the efficiency of their business:

The company bring together expertise in consulting, IT services and

business process outsourcing to create solutions that allow clients to

increase their customer loyalty through faster innovation, restructure

their cost base, and help them achieve greater success through shifting

business cycles. Expertise helps our clients improve their own

efficiencies, create better value for their end customers and become

more competitive. They’re able to capture a greater share of our clients’

technology budgets.

Proven global delivery model:

Highly evolved Global Delivery Model represents a key competitive

advantage. Over the past decade, they have developed our onsite and

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offshore execution capabilities to deliver high quality and scalable

services. In doing so, Infosys have made substantial investments in

processes, infrastructure and systems, and have refined our Global

Delivery Model to effectively integrate onsite and offshore technology

services. The Global Delivery Model provides clients with seamless,

high quality solutions in reduced time frames enabling them to achieve

operating efficiencies.

Commitment to superior quality and process execution:

Infosys have developed a sophisticated project management

methodology to ensure timely, consistent and accurate delivery of

superior quality solutions to maintain a high level of client satisfaction.

Strong Brand and Long-Standing Client Relationships:

They have long-standing relationships with large multinational

corporations built on successful prior engagements with them.

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Status as an employer of choice:

Infosys has among the best talent in the Indian technology services

industry and are committed to remaining among the industry’s leading

employers. We have a presence in 13 cities in India, allowing us to

recruit technology professionals with specific geographic preferences.

We have a diverse workforce which includes employees from 70

nationalities.

Ability to scale:

Infosys have successfully managed their growth by investing in

infrastructure and by rapidly recruiting, training and deploying new

professionals. We currently have 52 global development centers.

Innovation and leadership:

A pioneer in the technology services industry. We are one of the first

Indian companies to achieve a number of significant milestones, which

has enhanced our reputation in the marketplace.

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WEAKNESSES

Revenues and expenses are difficult to predict and can vary significantly

from period to period, which could cause share Price to decline 26 May

not be able to sustain our previous profit margins or levels of

profitability. The economic environment, pricing pressure and rising

wages in India and overseas could negatively impact revenues and

operating results. Revenues are highly dependent on clients primarily

located in the United States and Europe, as well as on clients

concentrated in certain industries. Economic slowdowns or factors that

affect the economic health of the United States, Europe or these

industries may affect our business. Any inability to manage growth

could disrupt our business and reduce our profitability may face

difficulties in providing end-to-end business solutions for our clients,

which could lead to clients discontinuing their work. Revenues are

highly dependent upon a small number of clients, and the loss of any one

of our major clients could significantly impact the business

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Failure to complete fixed-price, fixed-time frame contracts within

budget and on time may negatively affect our profitability client

contracts can typically be terminated without cause and with little or no

notice or penalty, which could negatively impact our revenues and

profitability

The engagements with customers are singular in nature and do not

necessarily provide for subsequent engagements

OPPORTUNITIES

Huge untapped potential for in the global market as IT will become the

need of almost every industry

The IT industry can be the reason for India being a global leader of

tomorrow

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THREATS

Legislation in certain of the countries, in which Infosys operates,

including the United

States and the United Kingdom, may restrict companies in those

countries from outsourcing work overseas

Intense competition in the market for technology services could affect

cost advantages, which could reduce the share of business from clients

and decrease the company’s revenues

Our client contracts are often conditioned upon our performance, which,

if unsatisfactory, could result in less revenue than previously anticipated

Some of our long-term client contracts contain benchmarking provisions

which, if triggered, could result in lower future revenues and

profitability under the contract.

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 Goals

INITIAL GOALS

They started off with one client and right from the beginning understood

the concept of an offshore delivery model. Conceptually, they tried to

leverage globalization for customized software development - producing

where it is most cost-effective, and selling where it is most profitable, all

without being constrained by national boundaries. Infosys believed that

the key to success is to ensure that it executes our engagements well

every time. We have based our whole operation on a foundation of

strong value systems. We were careful never to compromise on that

despite many challenges.

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PRESENT GOALS OF INFOSYS

AREA OF GOVERNANCE

To define and implement a training module and create awareness about

sustainability.

Status-It was achieved by providing sustainability training for seniors

PRODUCT RESPONSIBILITY

Sustain customer satisfaction in the annual customer survey

Status- It was achieved; the overall customer satisfaction was at

81 %

ENERGY

Monitor energy consumption to become energy efficient.

Status- This was achieved by implementing new monitor

mechanisms

Reduce per capita energy consumption by 5 %.

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Status- This was partially achieved by reducing the per capita

electricity consumption to 10%.

ENVIRONMENT
Plant a tree for every new employee

Status- Below the target – planted 16,000 trees in Mangalore.

HUMAN RIGHTS

Create a framework for employees, suppliers and vendors to be educated

on human rights.

Status- Below target- developed a basic training module on human rights

which will be implemented in 2010.

EMPLOYEE ENGAGEMENT

Track impact of employee health related activities.

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Status- Target achieved by receiving feedbacks after health

check ups.

SOCIETY

Define and implement metrics for measurement.

Status- Achieved target by developing guidelines and

dashboards.

FUTURE GOALS OF INFOSYS FOR THE YEAR 2009-

2010

STRATEGIC LEVEL

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 1. We will develop processes to integrate business and sustainability

goals.

2. Improve accountability in the business units through iSOP

framework.

3. Strive to meet stringent short term goals.

OPERATIONAL LEVEL

1. 5% reduction in energy, water and carbon foot print.

2. To educate vendors on our green procurement

policies.

3. To create Large, global deals

4. Continued linear relationship between revenue-

manpower

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To implement Enterprise scale Solution Design and

Integration as key focus areas in the telecom sectors.

References

Websites:

• Infosys.com

• Google.com

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• Scribd.com

• Bing.com

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