HCL Tech to sign new orders by Dec end

New Delhi: HCL Technologies said it expects to sign $1 billion worth of orders in the current quarter ending December 31.

“We will be signing over $1 billion worth of deals, this quarter. The Total Contract Value (TCV) for the last fiscal ended June 2008 stood at about $1 billion, whereas for the last quarter itself, the company had signed deals of about $273 million,” the HCL Tech CEO, Mr Vineet Nayar said.

He said that these contracts were spread across US and Europe, and covered verticals such as media, publishing and entertainment, life sciences and hi-tech.

Commenting on the slowdown and its impact on the IT, he said that the currency volatility could hit dollar revenues by 7-10 per cent, while the economic downswing was forcing companies to cut their IT spends.