The above graph represents the Tech Mahindra onsite vs offshore revenue share by quarter, starting from fiscal Q1 2005 to the recently completed quarter. Interestingly, over 65.3% of Tech Mahindra’s IT business revenue in FY Q3 2020 generated onsite. The share of onsite IT business revenue declined 0.2% point when compared to the year-ago period.
On the other hand, Tech Mahindra offshore revenue share increased nearly 0.2% point during FY Q3 2020, to 34.7%.
|Source||Tech Mahindra Limited|
|Note||Tech Mahindra financial year starts from April 1st|
The quarterly revenue of Tech Mahindra reached an all-time high of Rs 96,546 million in FY Q3 2020.
One must note that the Tech Mahindra onsite revenue has been higher than its offshore revenue since FY Q1 2014, ended June 30, 2014. The share of Indian IT firm’s onsite revenue grew from 51% in FY Q1 2014 to 61% FY Q1 2016. While the offshore revenue share declined from 49% to 39% during the same period.
Onsite: When a Tech Mahindra employee works on the client’s project at the client premises.
Offshore: When a Tech Mahindra employee works on the client’s project at company’s premises, instead of client side.
About Tech Mahindra Limited
Tech Mahindra Limited (NSE: TECHM) is an Indian multinational subsidiary of Mahindra Group, headquartered in Pune, Maharashtra. On 24 October 1986, Mahindra Group entered the telecom IT services space through Mahindra British Telecom (MBT) – a joint venture with British Telecom, UK.
In 2005, the company had began its first global development center outside India (in Melbourne).
In February 2006, MBT changed its name to Tech Mahindra Limited.
In April 2009, Tech Mahindra acquired 51% controlling stakes in Satyam Software Services for Rs 2,889 crore. Later, in June 2009, Satyam got rebranded as Mahindra Satyam. On March 21, 2012, Tech Mahindra announced its plan to merge with Mahindra Satyam. Later on June 24, 2013, Tech Mahindra and Mahindra Satyam merger completed to become India’s fifth largest software services company with a turnover of US$2.7 billion.
With $11.3 billion market cap, Tech Mahindra ranked #1543 in the list of Forbes Global 2000: World’s largest public companies.
As of March 2020, the Indian IT company has 964 global partners (including Fortune 500 companies), and over 130,839 employees across 90 countries.
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