According to Nasscom, revenues for IT sector are expected to grow at 13% in FY2015 to end the year, USD 146 billion. The revenue growth rate target stands at 13.1% in constant currency terms and 13.9% in rupee terms, the industry body said. The growth reflects the variable impact of currency; it said adding that out of total revenues, exports would account for USD 100 billion.
NASSCOM had earlier forecast the industry to grow 13-15% in FY2015. For FY2016, IT services are expected to grow in the 12-14%, with domestic market slated to grow at 15-17%.
Commenting on the same, Sarabjit Kour Nangra, VP Research, IT, Angel Broking, said, ''While the current growth estimates are on back of the current macro trends, we believe that the Industry has a growth potential to sustain a 13-15% growth for a long period of time. So far the commentary from the managements has been positive that the sector can put up the growth in line with the FY2015 growth projections.
Also our projections for the company for FY2016, under coverage's are lower than the growth for FY2015, thus were factoring in a moderate lower projection for FY2016. We maintain our recommendations in the sector, with long term buy on Infosys, TCS and Wipro.''
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