Mahindra Satyam: Former customers coming back

FPJ BureauUpdated: Sunday, June 02, 2019, 01:54 AM IST
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New Delhi

Satisfied with its three- year transformation journey from the once scam- hit Satyam Computer, Mahindra Satyam has said the customers who had left it during uncertain times are returning back to its fold. ” Our clients who

left us during the uncertain times have started returning to the Mahindra Satyam fold.

Clients that had imposed an embargo on awarding fresh projects to us, have since revoked their decision,” Chairman Vineet Nayyar said.

Addressing shareholders in his annual letter, Nayyar further said: ” We are quite happy with our current situation as we can now focus on business without the distraction of lawsuits”. Mahindra Satyam is currently in the process of getting merged with Mahindra groups another IT firm Tech Mahindra. Nayyar said the company has seen a lot of positive sentiment among stakeholders following the merger announcement with Tech Mahindra.

” The global situation has been tense and customers are focussed on sustainability of benefits and are looking at strong and reliable partners who will enable growth. ” We find ourselves increasingly well- positioned to capitalise on the changing demand cycle,” he said, while citing the recent contract wins from a leading precious metals and financial services group of companies.

Seeks shareholdersalt39 nod for more charity In September, Mahindra Satyam will seek shareholdersalt39 approval to increase the minimum charity contribution by its board of directors four- fold to Rs 20 crore a year. ( PTI)

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