Infosys to focus on Europe, Asia

Infosys BPO announced on Wedn-esday that it would focus more on the clients based in the countries other than the US to sustain its current 70 per cent annual growth. Infosys BPO Ltd CEO and managing director Amitabh Chaudhry said, “Our current business exposure to the US is around 60 per cent. Since the profit margins of most of finance sector companies in the US are currently going down, we have planned to curtail our current US exposure to maximum 50 per cent level in order to sustain the current 70 per cent annual growth of our company. Also, the last two quarters in the US have witnessed a major slowdown in the economy. We have assessed other overseas locations like Europe and Australia as more lucrative in terms of future growth prospects. Ideally, we wish to maintain our foreign business exposure in the ratio 50 (US):30 (Europe): 20 (other countries).”
Commenting on the effect of the US subprime crisis in India, he said, “The impact of the US mortgage subprime crisis is expected to cause a revenue loss of a $1 million for us in the current fiscal. However, it is too premature yet to assess the exact quantum of the damage.