INTRODUCTION NARAYANA MURTHY

He was short. He was sharp. He was the brightest boy in his class. His seniors would ask him to solve their difficulties in Science. He could have gone unnoticed in the crowd, but once you asked him a question related to Physics or Maths, there was a spark in his eyes. He could grasp theories of Science faster than the speed of light. He came from a poor but educated family. His father was a high-school teacher and an avid reader of English literature. He, like all the boys in the class was trying to get admission into some engineering college. The brighter ones wanted to study in the Indian Institutes of Technology or the IITs. There was an entrance test for IIT. This boy, along with his friends applied to appear for the test. They did not have any special books or coaching. All these IIT aspirants would sit

below the shade of a stone mantap close to Chamundi hills in the sleepy town of Mysore. He was a guide for others. While the others struggled to solve problems in the question paper, he would smile shyly and solve them in no time. He sat below a tree and dreamt of studying at IIT. He was then only sixteen years old. D-Day came. He came to Bangalore, stayed with some relatives and appeared for the entrance test. He did very well but would only say OK when asked. It was the opposite when it came to food.OK implied bad, good implied ok, and very good implied good!! His principle was never to hurt anyone. The IIT entrance results came. He had passed with flying colors and the highest rank. He was thrilled! He went to his father who was reading a newspaper. ANNA, I have passed the exam. Well done, My Boy. I want to join IIT. His father stopped reading the paper. He lifted his head, looked at the boy and said with a heavy voice You know our financial position, I cannot afford your expenses at IIT. You can stay in Mysore and learn as much as you want. His father was sad that he had to tell the bitter truth, but it could not be helped. The teenager was disappointed. He was so near to fulfilling

his fondest dream, yet so far. His heart sank in sorrow. He did not reply. He never shared his unhappiness with anyone. He was an introvert by nature. His heart was bleeding but he did not get angry with anyone. The day came, his classmates were leaving for Madras (Chennai). They had shared good years at school and he went to wish them good luck for their future. At the station his friends were already there. They were excited and discussing their new hostels, new courses etc.. So he stood there silently. One of his friends noticed and said, You should have made it. He did not reply. He just wished them. He stood there even after he could no longer see the train or the waving hands. It was June 1962 in the Mysore city. Yet he stood there motionless. He said to himself, without anger or jealousy, All students from the IITs study well and do big things in life. But it is not the institution, ultimately it is you and you alone who can change your life by hard work. This son of a school teacher became a pioneer of Indias software industry. He is none other than Infosys founder, Narayana Murthy. His motto being , Powered by Intellect, Driven by Values.

EARLY LIFE Born on August 20, 1946, N.R. Narayana Murthy is a B.E. Electrical from University of Mysore (1967) and M.Tech from IIT Kanpur (1969). Narayan Murthy began his career with Patni Computer Systems in Pune. In 1981, Narayana Murthy founded Infosys with six other software professionals. Murthy's father was a schoolteacher in Kolar district, Karnataka, India. A bright student, Murthy went on to acquire a degree in Electrical Engineering from Mysore University and later studied Computer Science at the IIT, Kanpur, India. The Infosys legend began in 1981 when Narayana Murthy dreamt of forming his own company, along with six friends. There was a minor hitch, though-he didn't have any seed money. Luckily, like many Indian women who save secretly without their husband's knowledge, his wife Sudha-then an engineer with Tatas-had saved Rs 10,000. This was Murthy's first big break. The decade until 1991 was a tough period when the couple lived in a one-room house. The second break came in 1991 when Indian doors to liberalization were flung open Murthy grabbed the opportunity with both hands and has never looked back ever since. Today, Infosys is the first Indian company to be listed on the US NASDAQ.

INFOSYS
History Infosys Technologies Limited was founded on July 2, 1981 in Pune by N. R. Narayana Murthy and six others: Nandan Nilekani, N. S. Raghavan, Kris Gopalakrishnan, S. D. Shibulal, K. Dinesh and Ashok Arora[1], with Raghavan officially being the first employee of the company. Murthy started the company by borrowing INR 10,000 from his wife Sudha Murthy. The company was incorporated as "Infosys Consultants Pvt Ltd." north-central Mumbai as the registered offic For fiscal-year 2006-07 (year-end March 2007) about $ 3B. Infosys has over 69,000 people and is still growing. The company operates in 8 different countries, with primary offices in 50 major cities worldwide. The stock trades on the U.S. Nasdaq stock exchange with a current market-cap of about $ 30B, putting it on the Nasdaq 100 list.

Milestones

1981: Founded. 1983: Moved its headquarters to Bangalore, the capital of Karnataka

1987: First international office in the United States in Fremont, California, now its US headquarters. 1987: Got its first foreign client, Data Basics Corporation from the United States 1993: Became a public limited company in India with an initial public offering of Rs. 13 crores. 1996: First office in Europe in Milton Keynes, UK 1997: Office in Toronto, Canada 1999: Listed on Nasdaq. 1999: Attained a SEI-CMM Level 5 ranking and became the first Indian company to be listed on NASDAQ 2000: Opened offices in France and Hong Kong 2001: Opened offices in United Arab Emirates and Argentina 2002: Opened new offices in Netherlands, Singapore and Switzerland. 2002: Business World named Infosys "India's Most Respected Company".[5] 2002: Started Progeon, its BPO (business process outsourcing) subsidiary[6] 2003: Acquired 100% equity of Expert Information Services Pty Limited, Australia (Expert) and changed the name to Infosys Australia Pty Limited. 2004: Set up Infosys Consulting Inc., U.S. consulting subsidiary in California, U.S. 2006: Became the first Indian company to ring the NASDAQ Stock Market Opening Bell

2006: August 20, N. R. Narayana Murthy retired from his position as the executive chairman[7] 2006: Acquired the 23% stake Citibank had in its BPO offshoot Progeon, making it a wholly owned subsidiary of Infosys and changed the name to Infosys BPO Ltd.[8] 2006: December, became the first Indian company to make it to Nasdaq-100[9] 2007: April 13, Nandan Nilekani stepped down as CEO and made way for Kris Gopalakrishnan to occupy his chair effective June 2007 2007: July 25, Infosys bags multi-million dollar outsourcing contract with Royal Philips Electronics in the area Finance & Accounting services strengthening its European operations. 2007: October, quarterly revenues cross USD 1 billion for the first time.

Business PRODUCTS & SERVICES Infosys describes its business as partnering for technology-led business transformation and has 476 active clients (over 70% are counted among the Fortune 2000). They boast that over 94% of their revenue comes from repeat business. Their global headquarters is the largest single-site software services facility in the world.

Infosys offers concept to implementation software services at every stage of the value chain. The companies total outsourcing solutions include consulting, design, custom application development, software reengineering, maintenance and production support, systems integration, package evaluation and implementation, testing services, operations and business process consulting, engineering services, and infrastructure management services. Markets Infosys primary markets are in North America, Europe and the Asia-Pacific region. Primary clients are in financial services, manufacturing, telecommunications, retail, utilities, logistics, and industrial automation. Heres a list of major vertical markets:

Automotive & Aerospace High Tech & Manufacturing Energy & Utilities Insurance, Healthcare, Life sciences Banking & Capital Markets Retail & Distribution Telecomm

In addition to these, there are Horizontal Business Units

Consulting Enterprise Solutions (ES) Infrastructure Management Services (IMS) Product Engineering and Validation Services (PEVS) PED (Product Engineering and Development) PLES (Product Lifecycle and Engineering Services) IVS (Independent Validation Solutions) Systems Integration (SI)

GROWTH OF INFOSYS In the last 25 years, Infosys has been growing and growing. With the liberalization of Indian economy in 1990s, Infosys grew rapidly. In 1993, the company came up with its IPO. In 1995, Infosys set up development centers across cities in India and

In 1996, it set up its first office in Europe in Milton Keynes, UK. Infosys also has scored a number of firsts in India. It is the countrys first global company, with more than 90 percent of its revenues coming from overseas. It was the first company here to adopt a code of corporate transparency, the first to offer stock options to employees, In 1999, Infosys became the first Indian company to be listed on NASDAQ In 2006, Infosys has a turnover of more than $ 2billion and has employee strength of over 50,000During 2005-2006, the Infosys internal cash accruals more adequately covered working capital requirements, capital expenditure and dividend payments leaving a surplus of Rs 1,612 crore (Rs 16.12 billion). In 2001 it was rated "Best Employer in India" by Business Today,. Infosys won the Global MAKE (Most Admired Knowledge Enterprises) award, for the years 2003, 2004 and 2005, being the only Indian company to win this award and is inducted into the Global Hall of Fame for the same . .

In 2002, Infosys was ranked No. 1 in the "Best Employers in India 2002" survey conducted by Hewitt and in the Business World's survey of "India's Most Respected Company." Conducted in the same year Today, Infosys is India's second largest software exporter. It now enjoys a strong liquidity position with over Rs 6,000 crore (Rs 60 billion) in assets, including surplus cash. As on March 2006, the company had liquid assets including investments in liquid mutual funds of Rs 4,463 crore (Rs 44.63 billion). This collectively makes the liquidity strength of Infosys at Rs 6,078 crore (Rs 60.78 billion).

Financial Results At the end of fiscal-year 2006-07 (March 31, 2007) Infosys revenue will be about $ 3B, with a market capitalization of $ 30B (more than 10 times Revenue) and a price/earnings ratio of 30-40. Profit margin is about 28%, with return on assets at about 22% and return on equity over 38%. Year-on-year quarterly revenue growth is about 45%, with quarterly earnings growth over 50%. The company currently has cash-coffers of over $ 0.5B. It showed that professionals can run a company as well, if not better, than the

families, such as the Ambanis of Reliance Industries, who dominate Indian companies.
Outperformer on the bourses. . . As can be seen from the chart, if an investor had invested Rs 100 in the Infosys stock in April 2002, then over a period of 3 years till March 2005, he/she would have multiplied his/her money over 2.5 times! The figure for the BSE Sensex would have been less than twice the invested amount.

The CAGR over the period works out to around 35.6% for Infosys. For the Sensex, the corresponding figure is 24.8%. We have taken a three-year time frame for comparison because we believe that equities are a long-term investment and comparison over a shorter time frame would not account for any glitches or short-term falls in the markets due to factors such as weak sentiment, economic recession, one or two quarters of poor performance by the company and other such short-term factors. Another reason is that 2003 and 2004 were bull market years and would have skewed the figures as the Sensex gave phenomenal returns in that period. Therefore, in order to even out returns and reduce the bias, we have taken a period of three years.

Infosys has been a star performer on the bourses mainly due to its sterling financial performance in terms of topline and bottomline. In the period from April 2002 to March 2005, revenues have grown at a CAGR of nearly 40% and profits have grown at a CAGR of around 29%. The Sensex companies have also maintained an impressive growth rate in the region of 15% to 20% CAGR between FY02 and FY05. Returns on the Sensex have thus, largely mirrored their financial performance. Drivers of growth for Infosys
Ingredients for success One element of Infosys operational excellence is its Global Delivery Model, based on doing work where it adds most value that is, utilizing the best global resources with the lowest associated cost and at the highest possible quality. Reliable telecom infrastructure and Indias low-cost skilled manpower allowed most of the work to be conducted offshore. Onsite aspects of the project are limited to those aspects requiring market proximity and customer interaction. The resulting ratio of 30:70 onshore/offshore provides a strong customer focus, as well as significantly reduced delivery costs. Thus, close to 45,000 Infosys employees are based in India.

Customer satisfaction is another key to Infosys breakneck rate of profitable growth. Over a 25-year period, the company has successfully completed more than 20,000 projects with a 99.998% error-free record. Over 93% of

the projects were delivered on time and on budget, far above the industry average of 30%. Such high customer satisfaction rates have resulted in 95% of clients coming back to Infosys for further projects.

Building on such exceptional customer satisfaction, Infosys proactively seeks to expand the scope of the work it does with existing clients, further fueling revenue growth. Infosys fully understands that in the business of outsourced services, lower cost alone is not sufficient. Quality, reliability, speed and customer orientation are fully part of the equation.

Infosys concern to provide its customers with a competitive advantage led to the creation, in 2001, of the Corporate R&D unit SETLabs (Software Engineering and Technology Laboratories). This unit develops methodologies, frameworks and tools to drive efficiency in project execution and delivery. SETLabs help clients with development projects, addressing specific technology or business problems, while also looking into radical innovations and long-term strategic issues supporting business process innovation for the customers. By mid 2007, SET Labs had grown to 500 consultants and software engineers, filing numerous patent applications.

Concerning staff training, Infosys massively invests in technical and management education. Young staff joining the firm typically follows a four month course. This is carried out in Infosys training center in Mysore, West of Bangalore, where 6 000 employees can be trained simultaneously. This contributes to Infosys having a staff much lower staff turnover than is typical in the industry.

Today, Infosys market capitalization is $30 billion. Revenues have consistently grown at over 50% annually through the past decade. As a result, it took 23 years for Infosys to reach $1 billion in revenues, but only 23 months to reach the $2 billion mark.

What can we expect? Going forward, Infosys is expected to continue on a high-growth path. As the company moves up the value chain, due to higher billing rates earned, revenues are expected to maintain a strong growth. As the company moves a greater proportion of work offshore after gaining competencies in higher-end services, margin decline will also be pared to an extent. Employee ramp up is expected to continue at a high rate as well. This will result in concerns on the employee costs front, especially given the fact that as a greater number of personnel are deputed onsite, higher salaries and fees will have to be forked out by the company to enable successful implementation of high-end tasks.

Attrition rates could also be of concern and Infosys will have to take initiatives on the employee front to ensure that this is minimised.

Corporate Profile Murthy served as the founder CEO of Infosys for twenty years, and was succeeded by cofounder Nandan Nilekani in March 2002. He is the chairman of the governing body of the International Institute of Information Technology - Bangalore, and was the Chairman of the Governing Body of the Indian Institute of Management, Ahmedabad. In addition, he is a member of the Board of Directors of INSEAD, Board of Overseers of the University of Pennsylvania's Wharton School, Cornell University Board of Trustees, Business Advisory Council of Great Lakes Institute of Management - Chennai,Singapore Management University Board of Trustees and the Board of Advisors for the William F. Achtmeyer Center for Global Leadership at the Tuck School of Business. Mr. Murthy also sits on the Board of Governors of the Asian Institute of Management (AIM), a graduate school of business located in the Philippines and is also the Chairman of the Board of Members of School of Management[2], Asian Institute of Technology (AIT) located in Bangkok, Thailand.

He is also a member of the Advisory Boards and Councils of various well-known universities such as the Stanford Graduate School of Business, the Corporate Governance initiative at the Harvard Business School, Yale University and the University of Tokyos President's Council. Murthy serves as an independent director on the board of the DBS Bank of Singapore. This is the largest government-owned bank in Singapore. He also serves as a director on the Central Board of the Reserve Bank of India, as the co-chairman of the Indo-British Partnership, as a member of the Prime Minister's council on trade and industry, as a member of the Asia Advisory Board of British Telecommunications plc. and as a member of the Board of NDTV, India. He also serves as an independent director on the board of the European FMCG giantUnilever. He is an IT advisor to several Asian countries. He was a member of the operating system team that designed real time operating system for handling air cargo for Charles de Gaulle airport, Paris. He was the President of National Association of Software and Service Companies (NASSCOM) from 1992 to 1994. Mr. Murthy is a member of the National Information Technology Task Force of India, and also of the Prime Minister's Council on Trade and Industry. He is a Director on the board of the Reserve Bank of India (RBI).

He retired from his executive position at Infosys on 20th August, 2006. However, he continues as the Non-Executive Chairman of the board.

KEY FOR BUILDING A GREAT COMPANY by Narayan Murthy Entrepreneurship is a marathon' entrepreneurship is a marathon. He believe that the key to a successful corporation is longevity for him heroes are companies like IBM, Levers, and GE. These firms have shown growth in earnings quarter after quarter, for a long time. Infosys itself has seen consistent growth in revenue and profitability for over 49 quarters, since it got listed in India. It has institutionalized performance and accountability in our systems and processes, and through the empowerment of our employees. Lets talk about some of the generic lessons The name of the game is: predictability of revenues; sustainability of the prediction; profitability; and a good de-risking model. Measurement is key to improvement. Value system A sound value system is what differentiates long-term players from others. Putting the corporation's interest ahead of personal

interest will advance personal goals in the long term. No single person is indispensable. It is important that you give challenging engagements to deserving people, whether they are young or new in the organization. Youth and empowerment are the keys to scalability and longevity. Every situation is what you make it to be. Confidence is half the battle, and leadership is making the impossible look possible. Speed, imagination and excellence in execution are the only three context-invariant and timeinvariant attributes for success.

Trust of employees, investors The trust of employees is the most important ingredient for successful leadership. To gain the trust of people, there is no more powerful leadership style than leadership by example. The world respects performance and action, not rhetoric. It is better to obsolete our own innovations, rather than allowing our competitors to do it. A healthy sense of paranoia and respect for competition is an absolute must for success. It prevents complacency, and ensures that the organization is learning continuously. The ultimate test for customer satisfaction is making our customer look good in front of his /

her customer.If you want to look smarter, you must surround yourself with people smarter than you. Everybody needs incentives to perform. Money is not the only motivator; respect, dignity, fairness and inclusiveness are essential to get the best out of employees. Every employee must feel an inch taller when talking about the company. Being transaction-oriented in every decision avoids groupism. An emphasis on meritocracy and data-orientation enhances the confidence of employees in the fairness of the corporation. To retain the trust of your investors, it is better to under promise and over-deliver. Investors understand that every business will have ups and downs, and want us to level with them at all times. They want us give them bad news pro-actively and as early as possible. Therefore, When in doubt, disclose. We should never take any decision with the stock price in mind. The day we do this, we will ruin the company. Finally, we have realized that we can shortchange investors if we want to make Rs 1 crore (Rs 10 million), but if we want to make Rs 1,000 crore (Rs 10 billion), we have to play the game straight and honest. We have realized that longevity requires that we follow every law of the land, even if we do not agree with it. We should work hard to change laws that hurt the progress of the corporation.

Unless we make a difference to the society and earn their trust, we cannot be long-term players. Therefore, in everything we do, we must ask ourselves whether we are adding value to the society around us, regardless of where we are -- US or India.

.First of all, we need good leadership. There is not even a single great company that has not good leaders. Great leaders raise the aspirations of their followers; they make people more confident, energetic and enthusiastic.

Such leaders make people embrace the adage: a plausible impossibility is better than a convincing possibility. People, who are motivated by great leaders, dream big, make sacrifices and achieve miracles. It is not sufficient just to have great leaders. We need a mechanism to identify, train, empower and mentor successive generations of leaders. Such leadership training and mentoring has to become the responsibility of the current generation of leaders.

.Second, we have to create a grand, noble vision which elevates the energy, enthusiasm and self-esteem of everyone in the company while ensuring that

everybody sees a benefit in following the vision. Third, a company has to benchmark itself on a global scale in every area including sales, production, human resources, R&D and finance. It creates an open and confident environment where first-raters recruit first-raters. Fourth, a great company continuously measures and improves the following attributes: meritocracy, fairness, justice, openness, speed, imagination and excellence in execution. Finally, a great company practices an enduring value system, and follows the finest system of corporate governance.

Accolades(awards) Murthy has been the recipient of numerous awards and honors: In 2008, he was awarded the Padma Vibhushan, a second highest civilian award by India and Lgion d'honneur highest civilan award by France.

In 2000, he was awarded the Padma Shri, a civilian award by the Government of India. He was the first recipient of the Indo-French Forum Medal (in the year 2003), awarded by the Indo-French Forum, in recognition of his role in promoting Indo-French ties. He was voted the World Entrepreneur of the Year - 2003 by Ernst & Young. He was one of the two people named as Asia's Businessmen of the Year for 2003 by Fortune magazine. In 2001, he was named by TIME / CNN as one of the twenty-five, most influential global executives, a group selected for their lasting influence in creating new industries and reshaping markets. He was awarded the Max Schmidheiny Liberty 2001 prize ( Switzerland), in recognition of his promotion of individual responsibility and liberty. In 1999, BusinessWeek named him one of the nine entrepreneurs of the year and he was also featured in the BusinessWeek's 'The Stars of Asia' (for three successive years 1998, 1999 and 2000). In 1998, the Indian Institute of Technology, Kanpur, one of the premier institutes of higher learning in India, conferred on him the Distinguished Alumnus Award, and in 199697, he was awarded the JRD Tata Corporate Leadership Award. In December 2005, Narayana Murthy was voted as the 7th most admired CEO/Chairman in the world in a global study conducted by Burson-Marsteller with the Economist

Intelligence Unit. The list included 14 others with distinguished names such as Bill Gates, Steve Jobs and Warren Buffett. In May 2006, Narayana Murthy has, for the fifth year running, emerged the most admired business leader of India in a study conducted by Brand-comm, a leading Brand Consulting, Advertising and PR firm. The Economist ranked him 8th among the top 15 most admired global leaders (2005). He was ranked 28th among the world's mostrespected business leaders by the Financial Times (2005). He topped the Economic Times Corporate Dossier list of India's most powerful CEOs for two consecutive years 2004 and 2005. TIME magazines Global Tech Influentials list (August 2004) named Mr. Murthy as one of the ten leaders who are helping shape the future of technology. In November 2006, TIME magazine again voted him as one of the Asian heroes who have brought about revolutionary changes in Asia in the last 60 years. The list featured people who have had a significant impact on Asian history over the past 60 years and it included others such as Mahatma Gandhi, Dalai Lama, Mother Teresa, etc. Naryana murthy receive highest civilian honour of France on 25th jan 2008 Mr. Murthy was awarded the Padma Vibhushan, the second highest civilian award, by the Government of India in 2008.

The Government of France conferred on him the Officer of the Legion of Honor in 2008.

Quotes

Our assets walk out of the door each evening. We have to make sure that they come back the next morning. Performance leads to recognition. Recognition brings respect. Respect enhances power. Humility and grace in one's moments of power enhances dignity of an organisation, The real power of money is the power to give it away. In God we trust, everybody else bring data to the table. Progress is often equal to the difference between mind and mindset. I want Infosys to be a place where people of different genders, nationalities, races and religious beliefs work together in an environment of intense competition but utmost harmony, courtesy and dignity to add more and more value to our customers day after day.

"Ships are safest in the harbor but they are not meant to be there. They have to sail long and hard and face stormy seas to reach the comfort of a desirable destination" 'We want to create wealth legally and ethically.' 'We believe a good night's sleep is worth a billion dollars.' 'A small percentage of a growing pie is better than a large part of a shrinking pie.' Leadership is about making what seems impossible, possible. It is like the horizon- as you come near it, you see more things and the horizon stretches further beyond Entrepreneurship is running a marathon, not a 100-meter dash. No corporation can sustain its success unless it can make a difference to society. If the society cannot help the many who are poor, it cannot save the few who are rich.

Conclusion Today, Infosys is acknowledged by customers, employees, investors and the general public as a highly respected, dynamic and innovative company.

A man cut of a truly different mould, who has shown the Indians that a whole world of opportunities exist in the wide world outside India, the man who has shown the world that an Indian can do wonders in the world of business can be conducted with a human touch and enduring human values, Narayana Murthy is truly a trial-blazer. To count his success in terms of the growth of Infosys and its market capitalization would be to present an extremely truncated view of the worth and message of this visionary corporate leader of the twenty- first century.
Conclusion:A man cut of a truly different mould, who has shown the Indians that a whole world of opportunities exist in the wide world outside India, the man who has shown the world that an Indian can do wonders in the world of business can be conducted with a human touch and enduring human values, Narayana Murthy is truly a trial-blazer. To count his success in terms of the growth of Infosys and its market capitalization would be to present an extremely truncated view of the worth and message of this visionary corporate leader of the twenty-first century.

BIBLIOGRAPHY WWW.WIKIPEDIA.ORG WWW.KARNATAKA.COM WWW.INFOSYS.COM WWW.ILOVEINDIA.COM WWW.LIFEPOSITIVE.COM WWW.BUSINESSWORLDINDIA.COM

WWW.USATODAY.COM WWW.REDIFF.COM www.automation.com WWW.IMD.COM WWW.REUTERS.COM WWW.INFOSYS.COM WWW.TIMESOFINDIA.COM WWW.MANAGEMENTPARADISE.COM WWW.NDTV.COM PRESS RELEASES

India's Infosys Posts 26 Percent Growth

Font Scale: Posted 11 January 2008 @ 05:37 am EST

NEW DELHI (AP) - India's Infosys Technologies Ltd. said Friday its profit in the most recent quarter rose 25.6 percent, helped by new outsourcing orders and tax refunds. The Bangalore-based company said its net profit rose to 12.2 billion rupees ($309 million) in the period ended Dec. 31 from 9.71 billion rupees in the same quarter a year ago. Revenue, or total income from software services, rose 17 percent to 42.71 billion rupees ($1.08 billion), helped by the addition of 47 new clients, including a leading European bank and a top global brokerage firm, Infosys said in a statement without naming the customers. The company added 8,100 employees during the period, the fiscal third quarter. Quarterly profit, which included about 500 million rupees in tax refunds, beat analysts' forecasts.

Infosys, India's second-largest software company by revenue after Tata Consultancy Services Ltd., slightly raised its full-year revenue forecast to between 166.27 billion rupees and 166.51 billion rupees. The Nasdaq-listed company also increased its dollar-term guidance, forecasting its annual earnings per American Depository Share to $2.02 from an earlier estimate of $1.99. "We see several opportunities for growth in the marketplace and have concluded several multiyear, multimillion dollar deals during the quarter," Infosys CEO Kris Gopalakrishnan said in a statement. But the revision in earnings guidance fell short investors' expectations. Infosys shares fell 1.3 percent to 1,582 rupees in afternoon trading.

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Infosys and Nihon Unisys sign MoU for Strategic Business Deployment and Joint Development for Sales and Solution Service Offering
Alliance to leverage Infosys Global Delivery Model and cutting-edge technology in Japanese market Tokyo, Japan, February 19, 2008: Infosys Technologies Limited (NASDAQ: INFY), a world leader in consulting and information technology services, announced that it has signed a Memorandum of Understanding for Alliance of Strategic Business Deployment and Joint Development for Sales and Solution Service Offering with Nihon Unisys, Ltd., Japan. This alliance is the maturing of the June 2007 partnership between Nihon Unisys and Infosys to execute largescale system upgrades of Oracle E-Business Suite for Nihon Unisys customers. The alliance will also explore mutually beneficial areas where the Global Delivery Model can be leveraged to jointly go to market. These include joint solution/ product development and application development/ maintenance.

The alliance brings together Nihon Unisys experience in the Japanese market and Infosys Global Delivery Model, its experience in open systems, and its cutting-edge technologies and methodologies to deliver high-quality and high-value solutions to Nihon Unisys customers in the Japanese market.

Infosys Technologies Unveils Latin America IT Development Center

President of Mexico and Governor of the State of Nuevo Len Participate in Opening Ceremonies Highlighting Infosys Near-Shore Capabilities in Latin America Monterrey, Mexico, Feb. 20, 2008: Infosys Technologies Limited (NASDAQ: INFY) today unveiled the companys first Latin American subsidiary by hosting an inaugural ceremony in Monterrey, Mexico attended by top dignitaries of the Mexican government and Infosys executives. The inauguration, attended by the President of the Mexican United States, H. E. Felipe de Jess Caldern Hinojosa, Chairman of the Board and Chief Mentor, Infosys Technologies Limited, Mr. N. R. Narayana

Murthy and the Governor of the State of Nuevo Len, Mr. Jos Natividad Gonzlez Pars, is aimed at enhancing services to existing Infosys clients in the U.S., Latin America and Europe.

"The combination of human and intellectual capital, nurturing business community and entrepreneurial spirit found in Monterrey positions the state for amazing IT service growth," said Governor of the State of Nuevo Leon Jos Natividad Gonzlez Pars.

The subsidiary, Infosys Technologies S. De R.L. De CV, provides the companys full range of business consulting and information technology services for clients in all industries including banking, financial services, distribution, retail, and more. The center provides key offerings in business process outsourcing (BPO), infrastructure management and packaged solutions implementation.

Mexico has embraced Infosys and worked with us to establish this innovative development center, said Mr. Murthy, Infosys Technologies. Our public-private partnership is already serving a half-dozen global clients in multiple industries and 87 new employees, both new college graduates as well as senior professionals, have joined Infosys so far -- remarkable achievements in the first six months since opening the center.

The Monterrey facility provides Infosys with dedicated resources to service clients in North America, Latin America and Europe with bilingual talent in an agreeable time zone and close proximity. Furthermore, it strengthens the companys global delivery model capabilities and joins other Infosys development centers in the Czech Republic, Poland, Thailand, Philippines, China, Australia, Canada and India.

After examining several countries in the region, Infosys chose to establish a presence in Mexico due to the broad language skills available in the region, its cultural similarities to Canada, the U.S. and Europe. Latin America is a strong emerging market and one where many of Infosys clients have operations already.