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ITC Infotech underscores a big-bang dream

At a turnover of just $60mn, the wholly owned IT subsidiary of ITC Ltd is a minnow compared with the biggies in the Indian IT outsourcing industry.

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HYDERABAD: At a turnover of just $60 million ITC Infotech, the wholly owned IT subsidiary of ITC Ltd is a minnow compared with the biggies in the Indian IT outsourcing industry.

But with record-breaking offer of Rs 1.04 crore at the Indian School of Business placement this year, the company has definitely shown it has big dreams and a big hand when it comes to betting on the future.

Managing director, Sanjay Varma is loath to confirm the offer or even divulge the name of the ISB grad offered the princely sum.

“We are a global company and the compensation we pay out has to be commensurate with our global stature,” is all he said, when DNA Money caught up with him in Kolkata.

Coming in the backdrop of the controversy over the IIM-Bangalore compensation announcements the reaction is understandable.

“There are sensitivities involved and we would not like to hurt the feelings of one of our employees,” Varma added.

ITC Infotech has been going to the ISB for the past three years to hunt for talent and this year it has picked up two graduates, he said.

Interestingly, ITC Infotech has not visited any other B-school campuses so far.

Set up just five years back, the company has been growing at a whopping 60% CAGR the last few years and achieving cash break-even in the third year of operations. Today it has a headcount of over 4000 people including the staff at its BPO joint venture company ClientLogic. Future additions would be in line with its growth rate, he added.

The ITC packet is very much in sync with the kind of offers that poured into the IIMs last month.

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