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IT industry demand goes down hit by Realty sector

BANGALORE: The commercial real estate market is facing tough times, with office space absorption across India's seven largest cities dropping 12% quarter-on-quarter in the January-March 2012 period due to uncertain economic conditions coupled with the euro zone crisis.
The trend is likely to continue for the next few quarters, with absorption of office space expected to drop by 10-15 % for 2012 due to lower demand from the information technology sector.

'Infosys, TCS, Wipro may struggle to grow at 20%'

MUMBAI: Large IT Indian providers such as Infosys, Tata Consultancy Services (TCS) and Wipro may struggle to grow at 20% unless IT budgets ramp up. 

Some of the reasons for this include an already existing high penetration into large US banking and telecom clients in traditional services, less generous doses of large deals, and slower than expected acceleration in Europe revenues, brokerage firm Kotak Securities said in a report. 

Sonata Software reports net loss worth Rs 13.65 cr

MUMBAI/ PUNE: IT company Sonata Software on Friday reported a net loss of Rs 13.65 crore for the March quarter, against a net profit of Rs 23.05 crore in the corresponding period last year. 

Net sales also declined to Rs 316.81 crore during the reporting period as against Rs 324.70 crore in the corresponding period previous fiscal. 

Tech Mahindra revenue up 3%

NOIDA: Telecom-focused IT company Tech Mahindra on Wednesday reported a 3% increase in its revenues for the year ended March 31, to $1.15 billion, thus beating street expectations which were predicting a dip in its revenues due to the flailing telecom sector globally. 

Indian IT infrastructure market to touch $2.05bn in 2012

MUMBAI: The Indian IT infrastructure market comprising of servers, storage and networking equipment is estimated to reach $2.05 billion in 2012, a 10.3% increase over 2011, according to technology researcher Gartner. By 2016, it is forecast to reach $3.01 billion. 

Servers, which constitute the largest segment of the Indian IT infrastructure market, are likely to reach $754.5 million in 2012 and grow to $967.2 million in 2016. 

MTNL eyeing managed services deals in Africa

KOLKATA: State-run MTNL, which operates mobile and land-line services in Mumbai and Delhi, is diversifying into the managed services space in international markets. For starters, it is about to ink multi-year managed services deals with mobile phone companies in key African markets like Zambia, Zimbabwe, Cameroon, Djibouti and Mozambique, a top company executive told ET.