Infosys outlook positive for long term
The Covid-19 pandemic and the consequent disruption in economic activities will have a negative impact on Infosys’s business in the near-term, but the medium and long-term outlook is positive as enterprises fast track their digital transformation journey.
This was one of the key messages that the top management of Infosys sent out to its shareholders as the country’s second-largest IT services firm held its 39th annual general meeting (AGM) virtually.
Responding to shareholders queries, they also indicated that Infosys will not be severely affected by the H1-B visa ban brought in by the Donald Trump administration because of its increased localisation initiative over the past 24 months.
Infosys further said that 95 per cent of its 2,40,000 employees was working from home (the peak was 97 per cent) at present and that it was not in a hurry to bring back the work from office model. According to the company, the strategy here will be to proceed in a slow and calibrated manner and the plan is to bring in a hybrid model wherein some employees work from home though this will depend on the nature of the project and client comfort.
Chairman Nandan Nilekani said the investments made over the last few years have positioned the company well and that Infosys has already “pivoted” resources to the new needs of clients and strengthened its expertise in cloud and automation to scale its digital endeavours.