Infosys raises annual revenue forecast on financial services boost
BENGALURU (Reuters) -India's No.2 IT services provider Infosys raised the floor of its annual revenue forecast on Wednesday after reporting stronger-than-expected quarterly sales, as its financial services segment got a fillip from AI deals and market-share gains.
The Bengaluru-based company narrowed its revenue growth forecast to 1% to 3% from a prior range of flat to 3%, in line with analysts' expectations.
Global interest rate cuts by central banks could boost India's $283-billion IT industry, where the banking and financial services segment contributes about a third of total revenue.
"We have seen a lot of the discussions on the economy worldwide coming to a more stable situation but it is not fully settled," said Salil Parekh, CEO of Infosys.
The company is seeing "strong traction" in financial services segment, Parekh said in a post-earnings conference, adding that logistics and manufacturing orders were being hit by the macroeconomic environment.
Infosys' consolidated sales rose 7.5% year-on-year to 422.79 billion rupees ($4.9 billion) in the June quarter, while analysts, on average, had expected revenue of 418.06 billion rupees, as per data compiled by LSEG.
"Infosys has done better on revenue front compared to its larger rival Tata Consultancy Services. The outperformance is due to solid deals won in the previous quarters," said Ambrish Shah, an analyst at Systematix.
Revenue from the firm's financial services segment rose for the fifth consecutive quarter, helped by marquee deal wins including Bank of Sydney, Metro Bank, and AIB.
The IT firm's net profit rose 8.7% in the three-month period to 69.21 billion rupees, mainly due to lower depreciation and communication expenses.
Analysts had expected 67.55 billion rupees of profit, as per data compiled by LSEG.
Net new bookings rose $3.8 billion during the quarter, compared with $2.6 billion in the previous quarter and $4.1 billion in the year-ago period.
Earlier this month, IT industry bellwether TCS missed revenue estimates and flagged delays in decision making and project starts.
Smaller rivals and Tech Mahindra have fared better than large rivals.
Infosys' U.S.-listed shares were up 1.6% in pre-market trade.
($1 = 86.3880 Indian rupees)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hill
9 minutes ago
- The Hill
Crypto lobby gains ground under Trump
At least 27 crypto companies or advocates filed their first-ever lobbying disclosures this year across some 20 firms, reflecting an increasing appetite for influence in a more crypto-friendly Washington. The newcomers originate from all corners of the industry. There's betting website Polymarket, a gaming company that created an NFT version of the White House Easter egg hunt, and a Seychelles-based exchange that cannot operate in the U.S. market due to a federal money laundering settlement. Together, they spent nearly $2.8 million between April 1 and June 30 on lobbying landmark legislation promoting digital assets to the Treasury Department and the Securities and Exchange Commission, and a host of other issues relevant to blockchain infrastructure — an increasingly sprawling ecosystem that some hope could one day be as ubiquitous as the internet. The push has paid off for crypto so far. The GENIUS Act, a bill with bipartisan support signed by President Trump last week, has been regarded as the government's 'seal of approval' on the industry. The law sets up a regulatory framework for stablecoins, a type of cryptocurrency that is theoretically pegged to the U.S. dollar or another reference asset. The House also advanced several other landmark bills during its monumental 'crypto week,' which featured high-profile lobbying stunts such as vending machines around the Capitol and the National Mall with customized chocolate bars urging 'yes' votes, bankrolled by the crypto exchange Coinbase. Lobbying expenses that week were not covered in the second quarter disclosures. At least 73 companies or associations focused on crypto disclosed federal lobbying activities, to the tune of about $11.4 million. This total doesn't include spending from investment firms such as Andreessen Horowitz ($790,000) or BlackRock ($810,000) that have substantial crypto interests but also lobbied on a suite of other financial regulation issues. The Hill's Miriam Waldvogel has more here.
San Francisco Chronicle
39 minutes ago
- San Francisco Chronicle
First Capital: Q2 Earnings Snapshot
CORYDON, Ind. (AP) — CORYDON, Ind. (AP) — First Capital Inc. (FCAP) on Friday reported profit of $3.8 million in its second quarter. The Corydon, Indiana-based company said it had net income of $1.13 per share. The bank holding company posted revenue of $16.1 million in the period. Its adjusted revenue was $12.4 million. _____
Business Journals
39 minutes ago
- Business Journals
New AI platform has mapped every construction project in Texas giving contractors "God mode" for leads
A New Edge in Construction Intelligence Texas GCs have always relied on luck, timing, and relationships to win new construction projects. But a new AI-powered platform by is a game changer helping GCs discover private projects earlier, engage decision-makers sooner, and win deals ahead of competitors. One Houston-based general contractor put it plainly: 'It's God mode for leads.' a Texas-focused market intelligence platform, has mapped over 65,000 active private construction projects across the state. The platform provides structured access to early-stage signals such as rezoning activity, land title changes, permitting updates, and ownership transfers—often before plans are finalized or teams are selected. Unlike traditional platforms that rely on user input or call centers, pulls directly from city and state databases, private sources, and creates proprietary data where no structured information currently exists. Every update is tied to a traceable source document, giving users a clear paper trail for every insight. equips users to act early by connecting dots that would take a human weeks to uncover. Built for Early Signal Detection Contractors can follow civil engineers, developers, and architects, track movement across projects, and engage earlier with decision-makers. The platform helps BD teams position themselves as trusted advisors—shaping scope, not reacting to it. is the only source of early intelligence on private construction projects before the bid stage, giving contractors real-time visibility into upcoming opportunities. It surfaces what's coming—not just what's already out there. 10x Better Than Legacy Tools Traditional bid-management platforms like ConstructConnect and Dodge track public bid-stage activity. But by the time projects hit those systems, it's often too late. Private work is different. You find very few private opportunities on bid boards, and often the ones featured are much too late. 'ConstructConnect tells you what's already happening. Mercator shows you what's coming,' says founder Chloe Smith. Chloe Smith created the platform in 2020 after watching her father, a 45-year industry veteran, prepare for retirement. 'They were flying blind,' she recalls. 'Had he walked out, they wouldn't know where the work was coming from next.' 'My dad always talked to me about relationships,' she adds. 'As I matured, I realized the massive risk this imposed on his company. If he decided to retire, those relationships would disappear. Their revenue channel instantly appeared highly fragile.' She describes as a force multiplier tool for BD teams: a sales 'cheat code' that eliminates hours of manual research and replaces it with verified, real-time intelligence. And more than that, it solves a deeper pain point: the FOMO of not knowing what you don't know. 'We were tired of hearing about projects too late. With Mercator, we're in early—and it's directly impacted our win rate.' — VP, Business Development Free Permits App – Click Here Results on the Ground Texas-based users are already seeing impact. It's already being used by GCs like Joeris, Bartlett Cocke, and ChalkLine, and it's quickly becoming the de-facto standard in proactive business development across the state. A Houston interiors firm used to identify a permit revision, secure a meeting, and win the project. A Dallas GC tracked multifamily conversions early and secured two jobs before competitors were even aware. One Houston-based contractor secured a self-storage project by spotting an early land acquisition and rezoning signal. They invited the developer to tour a similar build, influenced the design, and ultimately won the job. A self-perform contractor identified a healthcare expansion weeks in advance and locked in supplier work ahead of any bid package. Internal metrics show users surface 3–5x more early-stage opportunities weekly—and spend far less time chasing dead-end leads. 'If I have one coffee meeting, I might walk away with two leads in an hour. If I'm on Mercator, I could find five in that same time.' — Director of Business Development, General Contractor 'It really allows us to parse the data, analyze it, and get high-quality leads to reps in the field. So yes, I'm a fan.' — Senior Manager, Business Development 'Mercator cuts through the noise. We don't waste time chasing dead-end leads anymore.' — Sales Manager Pricing – Click Here to Book a Live Demo Widespread Adoption and Growing Demand is actively used by members of Houston AGC, Austin AGC, San Antonio AGC, and Texo AGC/ABC. It tracks commercial, industrial, healthcare, institutional, and multifamily projects across tenant improvement, exterior renovations, core and shell, and ground up construction in every major metro in the state. The platform's growth reflects a broader shift in how construction teams are using technology. In a more competitive, margin-conscious market, timing and insight have become decisive advantages. 'AI gives people the time and space to be more strategic,' says Nihar Dalmia, a partner at Deloitte. 'It enables higher-value work and accelerates decision-making.' doesn't replace business development. It sharpens it. The best teams don't just react faster—they show up earlier, with more to offer.
