India Business News: TCS's growth in the September quarter was weak due to a decrease in discretionary spending and slower deal ramp-ups. Revenue grew by 2.8% in constant
India Business News: BENGALURU/CHENNAI: Cognizant’s BFSI head Meera Krishnamurthy, who managed a book of business of nearly $6 billion, has quit the firm eight months afte.
“Demand supply is not against the IT companies and so margins will be protected. Demand continues to be softer and unless we see significant pickup in order wins in fiscal year FY 2025. But probably in the next couple of quarters, demand is expected to be weak, which will weigh on the valuations of most of the larger IT companies as we speak.”
Office leasing in India s 9 major cities increased by 33% YoY, reaching 15.8 million sq. ft. in Q3 2023, with the BFSI sector accounting for 29% of total leasing. Mumbai, Bengaluru, and Hyderabad dominated the market, representing 60% of transaction activity. The surge in BFSI leasing was driven by global capability centers and expansions by Indian banks and insurance firms.
Overall, the consultant said that gross office leasing activity increased by 33 per cent Year-on-Year (Y-o-Y) to 15.8 million square feet during the July-September period across nine cities Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad, Pune, Kochi and Ahmedabad.