MAHINDRA 5530 CHAMPIONING WOMEN IN AGRICULTURE 28 Mahindra Aerospace’s plans for the Indian skies 37 RAMESH IYER MAHINDRA’S MELODY ISSUE 2 • 2015 MAESTRO 40 COVER STORY Creating innovative, new technology and traversing a long journey of CREATING transformation, Tech Mahindra has today established itself as an IT powerhouse that drives innovation. It has emerged a winner despite TECHNOLOGY market challenges, paving the way THAT DRIVES for growth. GROWTH CONTENTS ME TEAM 2 COVER STORY ASSOCIATE EDITORS RISING TO THE FUTURE ZARINA HODIWALLA Tech Mahindra has carved a stronghold in the IT industry, creating new standards DARIUS LAM of excellence, spanning a journey of more than 30 years. Here’s an insight into the trajectory of its growth that has seen it transform into a global leader. AUTOMOTIVE DIVISION Bonita Fernandes, Rajeev Malik, Neha Dalal and Anita Beri 9 NEWS 16 TREND WATCH INTERESTING TIMES Updates from across sectors, New trends in car preferences marked FARM DIVISION including launches, initiatives, by a rise in demand for the compact SUV Pallavi Rao, Shruti Chhabra and awards and recognition. make for interesting times in the Indian Phiruzi Kasad vehicle industry. TWO WHEELER Hemisha Raigaga 28 RISE FOR GOOD 31 SOCIAL STATUS Tweets featuring the FINANCIAL SERVICES THE RED BEACON Mahindra Group from Charandeep Chawla and Sheetal Choksey OF HOPE around the world wide web. The Mahindra 5530 has been a strong AFTER-MARKET supporter of the ‘Women in Ag’ and the Geethu Menon and Harish Menon Texas Pride Scholarships, encouraging women to create a greater niche in MAHINDRA PARTNERS the agriculture sector in the US. Desiree D’Cunha INFRASTRUCTURE & REALTY 32 INDUSTRY 34 FOREIGN DESPATCH Shalini Bhattacharya, Subrata Sengupta SPOTLIGHT and Anurag Vijay Michael Smith, Project Leader TAPPING THE at Mahindra Research Valley, HOSPITALITY USED CAR located near Chennai, talks Deepali Naair MARKET of the wonderful adventure A focus on the used car market that his transition to India has INFORMATION TECHNOLOGY in India that is expanding, been. Vrinda Pisharody quickly driven by factors like affordability and the practice of AEROSPACE & DEFENCE changing vehicles frequently. Sanjit Tiwari SUSTAINABILITY SPECIAL FEATURE Poonam Bagwe 37 REACHING FOR THE SKIES CORPORATE SOCIAL RESPONSIBILITY Daring, innovative, and cutting-edge, Mahindra Gilroy Correia and Santanu Bhattacharya Aerospace’s future plans for the Aerospace industry in India will have it touching the skies. This special feature keeps you up-to-date! Edited and Published by Mahindra Group Communications for Mahindra & Mahindra Limited, 40 AFTER HOURS 44 VAIDY’S Gateway Building, Apollo Bunder, Mumbai 400 001. THE MELODY MUSINGS Editorial and Design Consultants MAESTRO AICL Communications Limited ([email protected]) Ramesh Iyer, Managing Director, Mahindra Finance For employees of the Mahindra Group and for private is an exemplary leader. He is also an outstanding external circulation only, through the Mahindra Group. singer who has won many accolades. We present a Please write in with your feedback at tête-à-tête with this music maestro. [email protected] EDITORIAL Dear Readers, DARIUS LAM If one were to examine the annals of India’s Michael Smith - MRV’s resident Englishman - Associate Editor IT history a few decades hence, the Tech tells us about his journey from the cool climes Mahindra story would certainly emerge as a of England to the heat and dust of vibrant unique one. Established as Mahindra British Chennai in this issue’s Foreign Despatch. Telecom in 1986, it has undergone several avatars or incarnations in its 30 year journey In After Hours, we present an entirely to emerge as one of India’s IT behemoths. different side of Ramesh Iyer, MD, Mahindra With a workforce of over 100,000, a client Finance and Mahindra’s Melody Man as he list that reads like a roster of Fortune 500 reminisces about his love for singing. companies and a geographical footprint spanning more than 51 countries, Tech S. P. Shukla - Group President & CEO Mahindra epitomises India’s IT success story. (Aerospace & Defence Sector) speaks about ME goes behind the scenes to speak to some the Sector’s plans and its vision for the future of the men and women who make the wheels as it reaches for the skies. We round off turn at this innovative and customer focused this issue with the News section and Vaidy’s company. inimitable humour. Big, brawny and muscular. Those are perhaps Happy reading! the first few words that come to mind when one hears the word ‘tractor’ but Janeth Darius Lam Tomlin, an agriculturist from Texas and one of Mahindra USA’s most ardent fans more than proves that farming is as much a woman’s field as she waxes eloquent about her love for the little red tractor that has helped her transform her homestead. COVER STORY RISINGRISING TO TOTHE THE Over the past three decades, Tech Mahindra has navigated the uncertainties of the IT industry to emerge as a leading player. The company has helped introduce people-centric services, focused on automation and forward-looking solutions, resulting in an impressive roster of clients and a global presence. 2 ISSUE 2 • 2015 COVER STORY 767 51countries 33% CAGR Global customers – Serves Presence across the world Ended the fiscal with revenue top Fortune 500 companies of US $ 3,686 million In Hindu mythology, Lord Vishnu takes on To be a success in the IT industry calls the IT industry were all about capacity. There multiple avatars or incarnations to eradicate for resilience, and perhaps it would not be was a dearth of software programmers in evil forces, restore dharma and liberate his out of place to recall the track record of your the West, while here in India, we invested devotees from the cycle of births and deaths. company in this area. A decade back, 90% heavily in computer science and engineering As Matsya, he takes the form of a fish to save of your company’s business used to come degrees. Thus, we could help bridge the gap the first man, Manu, from a terrible deluge. from top 10 customers and 100% from with sheer numbers. The industry is currently As Varaha or the boar, he defeats the demon Communications verticals; today, in both the going through the next stage of development Hiranyaksha in order to save the Earth cases, it’s half. Europe contributed 89% back which focuses on less manpower but greater and as Narasimha, he assumes the form then, it’s just 31% today. We had only one automation. Essentially, how do you do the of half-man/half-lion to slay the rakshasa, 50 million plus customer; today we have 13. same amount of work but with less people Hiranyakshipu. Thus, Vishnu moulds and Revenue then was around US $ 200 million. using tools and automation? adapts himself to address different situations We ended Fiscal 2015 with US $ 3,686 and problems, each of which require a unique million - a 33% CAGR. The TechM stock has Moreover, labour arbitrage is no longer our solution. seen appreciation of more than 20% CAGR USP. Innovation has become a business since its IPO nine years ago. In fact, yours imperative as companies increasingly seek The legend of Vishnu could well mirror the is probably the only company to make the solutions which will catapult them to the next story of Tech Mahindra, a company that has leap from the mid cap league to the large level of evolution. For instance, how do we undergone several avatars in the course cap space. And, in spite of the business ups help Citibank harness solutions to enable of a chequered journey spanning 30 years. and downs, your company has regularly paid them to offer next gen banking services? Established as Mahindra British Telecom in dividends since its listing in August 2006. Innovation is thus, not a nice to have but a 1986, it was rebranded as Tech Mahindra must have if we are to stay ahead of in 2006 to reflect a shift in focus from pure So, while we are not at all complacent, the curve.” play telecom to other verticals. Perhaps the we do have rich experience in navigating company’s biggest trial by fire came in 2009 volatilities. We have steadily de-risked our The spirit of innovation is alive and well when it acquired the beleaguered Satyam dependence on narrow customer bases. The at Tech Mahindra. “We were inspired by Computer Services which was reeling in the Satyam acquisition has taught us the skills the Media Lab at MIT and the culture of aftermath of one of corporate India’s biggest of risk management and integration and innovation at Mahindra Research Valley scandals. helped your company lay the foundations for (MRV) which led us to setting up two strong growth. We are confident of tackling Innovation Labs in Pune and Hyderabad, a Over the past three decades, the company temporary head winds, and we continue to couple of years ago,” says Sirisha Voruganti has successfully negotiated the vagaries of pursue our clear long term growth strategy who heads the Labs as Senior Vice President the global economy and a constantly changing with confidence. and Global Head – Innovation. IT industry to emerge as an IT powerhouse in India and overseas. Today, Tech Mahindra is a “We are gearing up to meet the next wave of US $ 3.7 billion company with over 103,200 software development,” says Chief Operating professionals across 51 countries, helping Officer, L. Ravichandran. “The first 30 years of over 767 global customers, including Fortune 500 companies. Indeed, if one were to examine the company’s horoscope, amid all the trials and tribulations, setbacks and successes, one would see the constant thread of resilience running right through.