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Time of India
2 days ago
- Business
- Time of India
AI-assisted coding is the way to go when hiring graduates: LTIMindtree CEO
Academy Empower your mind, elevate your skills Hiring for freshers or entry-level graduates will have artificial intelligence or AI-assisted coding as part of the improvised assessment as the correlation between revenue and headcount growth becomes more de-linear, said chief executive officer (CEO) of the sixth-largest Indian IT company, LTIMindtree 'We are very optimistic about continuing our effort in inducting freshers. We added 1,600 freshers this quarter and we are going to add more throughout this year as well. AI-assisted coding is the way to go about it,' said Venugopal Lambu Lambu said there was more emphasis in terms of the learning ability, and the foundational skill sets that freshers have on which companies can build, using their training and learning methods.'So those assessments will always improvise it…Whenever we hire people, we take all those aspects, whether it is related to the coding roles, cloud roles or infrastructure roles or data roles,' he on freshers by building a pyramid-style organisation structure has been key for the over-$283-billion outsourcing industry's services delivery model. However, over the past more than a year, since AI took centre-stage entry-level jobs and hiring at technology firms was impacted with companies coding 20-25% via AI, reducing the need for junior-level human AI technology permeates across functions and solutions, Lambu believes there is a correlation or a non-linearity in the revenue growth and workforce addition.'Over the last few quarters, when we added revenue, the headcount has not necessarily increased. So, there is a correlation or a non-linearity, but it is too early to call out to what extent it will happen,' he added. LTIMindtree , formed with the merger of L&T Infotech and Mindtree in November 2022, last week reported a 5.2% year-on-year growth in the first quarter revenue of fiscal year 2026 at $1.15 billion. It was a 1.97% sequential rise boosted by healthy growth from Europe and its consumer or retail transitioned to take over the Mumbai-headquartered Larsen & Toubro (L&T) subsidiary's top seat on May 31, after induction into the firm in company announced its largest deal with a US-based client worth $450 million in the first quarter.'We are on the verge of signing a couple of deals, and one of them will actually beat our own record. That gives me the confidence that we will move towards the double-digit growth at some time in the second half of the year,' Lambu IT industry has been struggling with low single-digit to flat business growth over the past two years after more than two decades of strong double-digit revenue growth tariff-led macro uncertainties and the AI-backed efficiencies increase cost pressures, most software service providers are witnessing a demand contraction from top clients. This is lowering revenue contribution from large deals, a key vector for IT firms' growth.'Our contribution of top clients' revenue decreased because it has moved to the other categories. For example, we added two new $50 million-plus accounts on-year basis…The portfolio mix also is changing as we start building larger deals,' Lambu we are betting big on AI, Lambu said, AI will be net positive for both revenue and margin growth, which it expects to be closer to 16% in the next couple of quarters from 14.3% in the June quarter.
Time of India
15-07-2025
- Business
- Time of India
Mindtree founder Subroto Bagchi shares amazing story of achievement of a once-jobless person who now employs 70 people with sales of Rs 8 crore
Where there's a will, there is a way. Mindtree founder Subroto Bagchi recently shared an inspiring story of a man who, once frustrated by the lack of job prospects, went on to build a successful business that generates multi-crore every year. Disappointed by the lack of jobs after college, he went on to join the Industrial Training Institute (ITI), Puri. Today, his transportation startup earns several crore rupees annually. Taking to X, the business tycoon shared a photo of the individual Soumendra Das and wrote, 'My travel across the land of Odisha led me to discover amazing stories of achievement. I met Soumendra Das. After college, I got disillusioned with job prospects. Took the very unusual path of joining ITI Puri. He felt a skill would get him a better future. After ITI, Tata Motors . Then he set up his own garage. When we met, at Tarini Motors , he had 70 employees & sales of 8 crores…' — skilledinodisha (@skilledinodisha) In another post, Bagchi shared that Soumendra had grown up eating prasad from the Jagannath Temple. — skilledinodisha (@skilledinodisha) As per his LinkedIn profile, Das is the director at Tarini Motors. Who Is Subroto Bagchi? Subroto Bagchi has journeyed through a diverse and multifaceted professional life, marked by a dynamic evolution across several roles. He began his career in the private sector before emerging as a pioneering figure in the Indian IT industry. Over time, he transitioned into an acclaimed author of several influential business books and, later in his life, took up impactful public service responsibilities. His entrepreneurial legacy was firmly cemented in 1999, when he co-established Mindtree, a technology services company that soon became a benchmark in the Indian IT landscape. He initially took on the role of chief operating officer and remained an integral part of the company's leadership until 2016. When he stepped down after seventeen transformative years, he held the position of executive chairman. Three years after his departure, Mindtree was acquired by Larsen & Toubro (L&T), marking a significant shift in the company's corporate trajectory. Following a strategic merger with L&T's own IT arm, the firm was rebranded as LTIMindtree. By June 2024, this unified entity had reached major milestones: annual revenues of USD 4.3 billion, a global workforce of 81,000 employees, and a market capitalization of USD 17.84 billion. These achievements placed LTIMindtree among the top 1100 global corporations, specifically ranked as the 1018th most valuable company in the world. Bagchi's contributions, however, extended beyond the corporate sphere. In 2006, during his tenure at Mindtree, he ventured into writing and released his debut book, marking the beginning of a prolific second career as an author. His literary works covered an array of subjects ranging from entrepreneurial insights and leadership principles to professional development and organizational growth. Each title garnered significant readership and commercial success. Notable works such as The High-Performance Entrepreneur, Go Kiss the World, and The Professional have remained relevant and widely read, even decades after publication. Go Kiss the World, in particular, attained iconic status and earned a place as a timeless classic. His books have been translated into numerous Indian languages, and select titles have also reached audiences in China and South Korea. In 2016, Subroto Bagchi entered the realm of public service at the invitation of Naveen Patnaik, then Chief Minister of Odisha, his native state. He assumed leadership as chairman of the Odisha Skill Development Authority , focusing on enhancing employability and vocational training across the region. During the COVID-19 pandemic, he became the government's chief spokesperson, helping guide public understanding through the crisis. By 2024, he transitioned into a new strategic position as Chief Adviser on Institutional Capacity Building. In this role, he worked to conceptualize and initiate transformative reforms across more than twenty civil services training institutions in Odisha, with a long-term vision set on the state's centennial year in 2036. Throughout his public service career, Bagchi remained deeply involved in both policymaking and operational execution. This dual perspective offered him a unique, behind-the-scenes understanding of governance mechanisms rarely accessible to the general public. His latest book, The Day the Chariot Moved, captures the emotional and practical dimensions of this journey, presenting a powerful narrative drawn from his firsthand experience at the confluence of policy, leadership, and social transformation.
India.com
09-07-2025
- Business
- India.com
Why Mindtree founder Subroto Bagchi, who donated Rs 1000000000, still holds Re 1 Cheque?
In a world where most people are chasing wealth, Subroto Bagchi, co-founder of Mindtree shows life is much more than just money. Recently, Bagchi shared an emotional and thought-provoking post on the social media platform X (formerly Twitter), where he displayed an old cheque from the State Bank of India. The cheque was worth just Rs 1 but to him, it is priceless. Subroto Bagchi's Rs 1 Cheque This Rs 1 cheque wasn't payment for consulting a company or startup. It was his final salary for serving as the Chief Advisor to the Government of Odisha. Bagchi held this post for eight years and accepted only Rs 1 as his annual salary as a symbolic gesture that shows his commitment to public service over financial reward. Bagchi wrote: '' What is the biggest wealth in this one life that I would never ever part with? Well, for every year of the work I did with the government, the deal was, they pay me Rs 1. For the 8 years out there, I got 8 cheques & this one here was my last salary drawn.'' What is the biggest wealth in this one life that I would never ever part with? Well, for every year of the work I did with the government, the deal was, they pay me Rs 1. For the 8 years out there, I got 8 cheques & this one here was my last salary drawn 🙏 — Subroto Bagchi (@skilledinodisha) July 5, 2025 Who Is Subroto Bagchi? Subroto Bagchi is known as the co-founder of Mindtree, an IT and consulting firm. He has received many awards for his leadership, vision, and philanthropy. He has substantial wealth but this Rs 1 cheque holds the deepest meaning for him. He and his wife, Susmita Bagchi, have donated hundreds of crores for causes like cancer care and skill development. While many business leaders ask for high payments for advisory roles, Bagchi made it clear that his motivation was never money. It was a sense of duty towards his home state, Odisha. His service was quiet and selfless.
Time of India
09-07-2025
- Business
- Time of India
Humble gesture: Why Mindtree cofounder Subroto Bagchi treasures a Re 1 SBI cheque; calls it ‘biggest wealth'
File photo: Mindtree cofounder Subroto Bagchi Mindtree co-founder Subroto Bagchi has reminded the nation that the true measure of success lies not in money, but in meaning. In a heartfelt social media post, Bagchi shared a picture of a Re 1 cheque, his final salary after eight years of public service as chief advisor to the Odisha government for Institution and Capacity Building. 'For every year of the work I did with the government, the deal was that they paid me Re 1,' he wrote on X . 'For the 8 years out there, I got 8 cheques and this one here was my last salary drawn.' The symbolic payment, issued by the State Bank of India, wasn't just a token — it was a powerful reminder of service without expectation, a value Bagchi said he holds dear. As per ET, Bagchi accepted the role in 2016 at the invitation of then Odisha chief minister Naveen Patnaik. He also served as chairman of the Odisha Skill Development Authority and later as the state's chief spokesperson on Covid-19 during the pandemic. Bagchi is widely respected for co-founding Mindtree in 1999, leading it as COO and later Executive Chairman until 2016. Following Mindtree's merger with L&T's IT arm, the entity became LTIMindtree. Despite building a billion-dollar tech enterprise and pledging hundreds of crores towards philanthropy with his wife Susmita, Bagchi says it's this Rs 1 cheque that he treasures most. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Secure Your Child's Future with Strong English Fluency Planet Spark Learn More Undo The post quickly went viral and sparked an outpouring of admiration. 'This is India's real strength, jewels like You working silently and unconditionally,' one user commented. Another said, 'What a spectacular contribution to Odisha. You could have created Rs 8000 Crores in 8 years in Corporate World. Salute !!' Bagchi began his career in the industries department of Odisha and rose to global recognition. Yet, even with all his achievements, Bagchi's message was clear — 'What is the biggest wealth in this one life that I would never ever part with?' he asked rhetorically in his post, underlining the value of humility and purpose-driven leadership. In an era marked by performative gestures and power-driven ambition, Bagchi's act stands out for its authenticity. His journey, from clerk to tech titan, and back to a humble public servant earning Rs 1 a year, embodies a rare form of leadership grounded in values rather than valuations. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
09-07-2025
- Business
- Economic Times
Mindtree founder Subroto Bagchi has donated hundreds of crores but a Re 1 SBI cheque is his 'biggest wealth of life'
Mindtree co-founder Subroto Bagchi called a symbolic Re 1 salary from the Odisha government the greatest wealth of his life. (Image: X/@skilledinodisha) In a world where success is often measured by wealth, titles, and accolades, Mindtree co-founder Subroto Bagchi has reminded us that true wealth lies far beyond the confines of a bank account. In a deeply emotional and thought-provoking post on social media platform X (formerly Twitter), Bagchi shared a picture of an old-fashioned paper cheque issued by the State Bank of India. Its value? Just Re 1. But to him, it's priceless. The cheque, was not for services rendered to a corporation or startup. It was his last salary as Chief Advisor to the Government of Odisha for Institution and Capacity Building—a role he served in for eight years. For each of those years, Bagchi accepted a symbolic salary of Re 1, never seeking financial reward for his public service. 'What is the biggest wealth in this one life that I would never ever part with?' Bagchi wrote, reflecting on the journey. 'For every year of the work I did with the government, the deal was that they paid me Re 1. For the 8 years out there, I got 8 cheques and this one here was my last salary drawn.' Bagchi is best known as the co-founder of Mindtree, a globally respected IT and consulting firm. Over the years, he has earned accolades for his leadership, vision, and philanthropy. But despite his financial success—he and his wife Susmita have pledged hundreds of crores for causes like cancer care and skill development—it's this small cheque that he treasures most. It symbolizes his belief that service to one's people can be its own profound the years, his journey has taken many forms — from a private-sector professional to an IT entrepreneur, an author of business books, and eventually, a public servant. One of the defining milestones of his career was co-founding Mindtree in 1999. He began my tenure there as the Chief Operating Officer, and over the course of next two decades, he rose to become the Executive Chairman. His time at Mindtree came to a close in 2016, and just a few years later, in 2019, the company was acquired by Larsen & Toubro (L&T). Following its eventual merger with L&T's IT subsidiary, the new entity emerged as LTIMindtree. In 2016, following an invitation from Naveen Patnaik, then Chief Minister of Odisha, he embraced a new chapter in public service as the Chairman of the Odisha Skill Development Authority. During the pandemic, he also served as the government's chief spokesperson on Covid-19, helping communicate crucial information during a time of crisis. — skilledinodisha (@skilledinodisha) The post quickly went viral, striking a chord with netizens who praised Bagchi's humility and values. 'Your gesture is a lotus in the mud of public virtue—its fragrance best left unannounced,' one user wrote poetically. Another commented, 'We need more people like Subroto Bagchi in Odisha who are successful in their fields and committed to contributing to our beloved state in whatever way they can.' Many described him as a rare example of ethical leadership in an era increasingly dominated by personal gain and performative virtue signaling. 'True selfless service, sir. A rarity in today's world. Thank you for your great service to Odisha,' read another comment. Bagchi's Re 1 cheque may be small in amount, but it carries the weight of a powerful message: that public service, when done with integrity, is itself the highest compensation. It evokes a time when symbolic salaries were a mark of honor, not just optics. In an era where monetary success is worn as a badge of importance, Bagchi's decision to treasure a Re 1 cheque over all else is both radical and humbling. Subroto Bagchi's journey from a clerk in Odisha's Industries Department to co-founding a billion-dollar tech firm and returning to serve his state for Re 1 a year, captures a rare arc of ambition anchored in humility. His decision to value a symbolic cheque over corporate millions reaffirms that leadership is not about power, but about purpose. ( Originally published on Jul 06, 2025 )
