My ex-employer, Cognizant Technology Solutions has reported an annualized revenue run rate of $1 billion for the quarter ended December 31, 2005. It is the fifth Indian IT company to achieve this landmark. It has celebrated the occasion in style, like it usually does, by doling out a fifth generation 30 GB Apple iPod to each of its over 25000 employees! Reading this news reminds of my Cognizant days when people looked forward to the company’s Annual Gift announcement! It usually came up with a list of good gifts to choose from. I guess Cognizant still continues this tradition of handing out a yearly gift even today.
Infosys was the first company to achieve this $1 b landmark more than a year back, and to commemorate that, it had gifted about $1000 to each of its employees. Additionally, it rewarded shareholders with a 3:1 bonus issue. Obviously there is excitement in the air. And these achievements signal the maturing of the Indian IT players and their getting into the big league. Bright and exciting days ahead for the sector!!
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