BANGALORE: Asserting that the European currency crisis currently has not impacted its business, TCS on Friday said weakening of Euro, British pound and significant appreciation of Indian Rupee will have impact on its revenue line.

“In general Euro, Pound Sterling are weakening. It is a cause for worry. But Dollar is strengthening. The impact will be lesser due to weakening of UK Sterling and Euro”, TCS CEO, Mr Chandrasekaran told reporters here.
TCS has not seen any direct impact on its business, he said. “We have to watch the situation carefully on what kind of impact it has. We will wait and watch. It is unlikely that it can have an impact on our business right now”.
Commenting on the situation that emerged in the United Kingdom following change in government where a new coalition dispensation has assumed power, Mr Chandrasekaran said the company has been implementing the projects awarded to it.
“We have been in touch with the clients and the projects are on track at this point of time”, he said.
TCS has been in few markets significantly in India and it has good experience in UK markets, he said. “We are working towards creating frameworks which can be replicated. We give robust solution. We are not taking on huge projects without any framework and ability to test it out”.
“TCS is looking for the most diversified footprint and we are well diversified in Latin America, Africa and Middle-East”, he said.
Commenting on the revival of economy, he said “we are seeing significant opportunity in the US.
TCS has identified ‘Cloud Computing’ as the biggest opportunity for it to create more business models, he said and pointed out “we made three bids in a banking sector.”
Mr Chandrasekaran said the company has deals across sectors both in application, management, infrastructure and BPO.
“In Europe it is slow. But we have high confidence in the industry today. Opportunities are back. There are sectors of manufacturing which are bit slow. In service sector opportunities are there”, he said.
TCS expects its non-linear revenue to grow by at least 10 per cent more in one of the quarters of this fiscal.
Mr Chandrasekaran said TCS “is very very bullish about the Indian market. We are confident of decent growth this year by overcoming volatility. I think, we are at this stage of achieving it”.
TCS is providing technical support to Passport Seva Kendras (PSKs) in India. There were plans to roll out 77 such kendras by this year end, he said.
“We have not found the right asset”, he said, responding to a query on TCS not going in for acquisitions in recent times.