HCL's regional units to bring in $100m

HCL Technologies, one of India's largest IT infrastructural management companies, expects it business in the Middle East to start bringing in annual revenue of $100 million (Dh367m) within two years, a company official said on Monday.

Anant Gupta, senior vice-president of the company, said in an interview the company was already operating in Saudi Arabia and expected to announce partnerships in Bahrain, Kuwait and the UAE within two months.

"In the last quarter of this year we should see something in Egypt," he added, speaking on the sidelines of a World Economic Forum meeting in the Egyptian resort of Sharm El Sheikh.

"We are looking at getting $100 million [in revenues per year] in the next 24 months. That's something we want to reach. It will be Saudi Arabia, the UAE, Bahrain, Kuwait and Egypt."

The company earns total revenue of $1.8bn a year from abroad, 55 per cent of it from the United States, and $4.7bn from all HCL operations, including its Indian home base, he said.

HCL Technologies runs information technology operations for companies, specialising in banking and financial services, often with a customer service component. Its clients include US electronics test equipment supplier Teradyne, microchip maker AMD and Swedish life assurance company Skandia.

Gupta said the company could make inroads in the Middle East.