India's largest IT exporter Tata Consultancy Services (TCS) on Wednesday said that it was seeing stability in deal closures and a healthy deal pipeline. Also, the firm was not experiencing any delay in the closure of budgets.
The commentary is significantly different from how some of its peers see the market - second-placed player Infosys has sounded caution while mid-tier firms have hinted at slower deal making.
TCS' optimism, however, is shared by the fast growing Cognizant. Both the companies have a far greater exposure to the banking and financial services (BFSI) sector versus peers - it generates more than 40 per cent of their revenues.
There is no slowdown in volume from BFSI; the relative caution on the part of other players implies that verticals such as manufacturing and telecom might be shrinking.
"There is a disconnect in the way countries look at the macros and how companies look. Is the current crisis same as 2008? Now, people are better prepared and pragmatic. Everyone has envisaged what is going to happen. Companies have a charter and they are going about it," TCS CEO and MD N Chandrasekaran said, during a select media briefing on the side lines of Nasscom's Leadership Forum 2012.
The CEO, nevertheless, pointed out two challenges that companies need to keep a watch on - protectionism and the growing number of visa rejections. Both the issues can escalate as elections in the US near. How companies plan and resource projects this year would therefore be critical to success.
TCS, Chandrasekaran noted, has enough people with the right visas - primarily H1Bs - to cover for the year.