Tarun Reflex

Wednesday, November 26, 2008

Infosys’ way of tackling traffic woes

Ashok Lucose, a 25-year-old who recently joined Infosys’ Electronic City campus in Bangalore, always preferred to work early. But a week after he joined Infy last month, he received a mail from HR pointing out some serious financial advantages to doing so.

  • HCL v/s Infosys
  • Infosys Net rises 30% in Q2
  • “In my previous job, I used to work 9 to 5,” says Lucose, who lands up at his new workplace by around 7:40 am.

    “But I hate sitting in the bus for a long time. Here the rules are that you can start work at any time and, if you start early, you can leave early as well. So I can avoid the rush-hour traffic and save time. But I was pleasantly surprised when I got an email saying that people who come in early can get cash prizes by lots,” he says.

    Lucose and his colleagues at the Electronics City campus are undergoing a pilot study by Stanford University’s Precourt Institute for Energy Efficiency to find out how incentives can bring down transportation costs.

    Headed by Balaji Prabhakar, the pilot study measures the impact of cash rewards on work timings.

    Under the scheme, employees who report to work before 8 am are eligible for cash rewards of up to Rs 12,000 every week. About Rs 96,000 is on offer every week and 700 people have won prizes, said a presentation by the Stanford professor.

    The impact too, has beaten expectations. The Infosys office at Electronics City now sees around 13,500 employees by 8 am, about 3,000 more than before the experiment, called Instant. Thanks to this, buses spend lesser time on the road and the firm saves Rs 20,000 per day in fuel costs.

    Studies revealed that buses that start by 7 or 7:15 am typically saved around half an hour due to the lower number of vehicles on the road. “8 to 8:30 am is the peak hour for traffic at the stretch before reaching Electronics City since most of the offices expect their employees to report by around 9,” said an Infy employee.

    Saturday, October 11, 2008

    Infosys headcount touches 1-lakh mark

    Notwithstanding the pressure on the IT job market from fears of an economic slowdown, IT major Infosys has become the secondtechnology firm in the country to cross the one-lakh employee mark after industry leader TCS.

    Infosys and its subsidiaries added 10,117 employees in the second quarter of this fiscal that ended on September 30, taking the total head-count to 1,00,306 employees, Infosys said on Friday after announcing its quarterly results.
    “We reached the milestone of crossing 1,00,000 employees,” said T V Mohandas Pai, Head HRD and Education Research and Member of Board.
    The net addition for Infosys stood at 5,927 during the second quarter. Analysts feel that due to a slowdown in the US economy, Indian IT companies, who mostly depend on the US market for their revenue, had postponed joining dates of new recruits, raising doubts about their future.
    However, the IT giant joining the big leagues of one-lakh plus employers would send some positive signals in the job market, they added.

    Related Posts :

    Other Interesting Posts : 
    Subscribe to Tarun Reflex and information on Pay Commission by EmailSubscribe to Tarun Reflex | Personal,Political and Technical (The Citizen Reporter) & latest update on Six Pay Commission by Email   

    add to del.icio.us : Add to Blinkslist : add to furl : Digg it : add to ma.gnolia : Stumble It! : add to simpy : seed the vine : : : TailRank : post to facebook

    Infosys net rises 30% in Q2

    Infosys Technologies Ltd reported a 30.2 per cent rise in net profit for the September quarter, beating its own and street estimates. It, however, pared revenue outlook in dollar terms for the fiscal due to currency volatility and the economic crisis in the US, which accounts for 61.5 per cent of its business.

    Aided by a weak rupee, Infosys raised its revenue outlook for the year by half a per cent to Rs 21,731 crore, up from the July forecast of up to Rs 21,622 crore. Net profit for September quarter stood at Rs 1,432 crore on revenues of Rs 5,418 crore, as compared to Rs 1,100 crore on revenues of Rs 4,106 crore in the year-ago quarter.

    Tracking the results, shares of Infosys hit an intra-day low of Rs 1,040 before recovering to close at Rs 1,226.70 on the Bombay Stock Exchange, a fall of 2.2 per cent over the previous close. It announced an interim dividend of Rs 10 per share. “We have revised our US dollar revenue guidance to reflect the current economic situation and the drastic depreciation of major global currencies against the US dollar,” said Mr S. Gopalakrishnan, CEO, Infosys.

    Terming the second quarter performance as “excellent”, Mr Gopalakrishnan said the sequential revenue growth in rupee terms was at 11.6 per cent and 5.3 per cent in dollar terms. Infosys saw a volume growth of 6.5 per cent during the quarter, while its operating profit margins improved by three per cent to 33 per cent.

    Infosys cut its dollar revenue forecast for fiscal 2009 by six percentage points. It now expects revenue to be between $4.72 billion and $4.81 billion. For December quarter, the revenue expectation is between $1,175 million and $1,220 million.

    “Even after so much turmoil in the market, Infosys has arbitrarily cut only 3 per cent of its revenue because of the uncertainty, which can be appreciated,” said an analyst with the Mumbai-based brokerage Motilal Oswal Securities.

     

    New clients

    The company added 40 new clients during the quarter. It signed five transformation deals and five large outsourcing deals of which three were about $100 million each. “There is no problem in winning deals, but delayed decision-making and ramp-ups continue to be an issue,” said Mr S.D. Shibulal, Chief Operating Officer, adding that Infosys was pursuing 12 deals of reasonable size with a 9-12 month incubation period.

    Despite adverse market conditions, the company maintained that pricing environment was stable. “We benefited from the depreciation of the rupee against the dollar, which was partially offset by the sharp appreciation of the dollar against all other major currencies,” said Mr V. Balakrishnan, Chief Financial Officer.

    The rupee depreciated against the dollar by six percentage points during the quarter and the average rate was Rs 44.50. “Our liquidity position continues to be strong with cash and cash equivalents reaching $1.9 billion,” Mr Balakrishnan said. 

     

     Related Posts :

    Other Interesting Posts : 

       

      Subscribe to Tarun Reflex and information on Pay Commission by EmailSubscribe to Tarun Reflex | Personal,Political and Technical (The Citizen Reporter) & latest update on Six Pay Commission by Email   

      add to del.icio.us : Add to Blinkslist : add to furl : Digg it : add to ma.gnolia : Stumble It! : add to simpy : seed the vine : : : TailRank : post to facebook

      Saturday, September 20, 2008

      Infosys registers for biggest group life insurance cover worth Rs 24,000 from LIC

      Infosys Technologies Ltd has subscribed India’s biggest-ever group life insurance policy worth Rs 24,000 crore, from Life Insurance Corporation of India (LIC), covering around 97,000 employees of the organization.

      With the latest initiative, Infosys will cover all its employees with the insurance cover ranging between Rs 20 lakh and Rs 80 lakh per employee. The policy also has an accident cover of Rs 10 lakh.

      However, the company didn’t disclose the premium amount, but according to sources, it will pay around Rs 200 per month at the highest level per employee.

      The company said in an official statement, that 40% of its employees are from the lower income group, and the company wants to offer social security to all its employees. The company had increased the total sum insured to Rs 11,792 crore in 2007, from Rs 7,981 crore in 2006.

      Infosys had 35 deaths in fiscal 2006-07, for which the total claim was Rs 4.5 crore, while in 2007-08 there were 36 deaths and the claim amount was Rs 8.24 crore.

      Subscribe to Tarun Reflex and information on Pay Commission by Email

      Subscribe to Tarun Reflex | Personal,Political and Technical (The Citizen Reporter) by Email

      add to del.icio.us : Add to Blinkslist : add to furl : Digg it : add to ma.gnolia : Stumble It! : add to simpy : seed the vine : : : TailRank : post to facebook

      Blog at WordPress.com.