Infosys sees industry-level growth in FY17, if it meets 10-12% revenue growth that is

India's second largest software exporter Infosys would aim to return to industry-level growth rates by financial year 2017, if it manages to reach 10-12% revenue growth forecast this year, said the company’s chief financial officer Rajiv Bansal.

While attending an investor meet in Bengaluru on Thursday, Bansal said, the company would touch industry-level growth rates if it puts up a good show this year as compared to last year, when it grew at a meager 5.6%.

“When Mr Murthy came back (in 2013), we clearly said that we would take 3 years to get back to industry-level growth rate -- and that will be FY17," said Bansal.

"If 5.6% goes upto 10-12%, then next year we should see industry-level growth rates....I think we're on the right trajectory -- once we reach that 10-12% mark, I think it will give us a lot of confidence to touch industry-level growth rates," he added.

Recently, Infosys has created a special team looking specifically at mergers and acquisitions, said UB Pravin Rao, the chief operating officer of the Bengaluru-headquartered IT firm. In 2014, Infosys hired former SAP executive Ritika Suri to lead M&A for the company.

Moreover, Infosys expects acquisitions can bring in additional revenues of about $1.5 billion as the IT services behemoth aims to achieve a goal of generating $20 billion by 2020.

"We have created a separate team looking at it -- a corporate development team looking at M&A," said Rao.

Ever since Suri joined Infosys, the company has pulled off two large acquisitions -- in January, it bought over Israel-based automation technology startup Panaya for $200 million, while in April, Infosys acquired eCommerce service provider Skava for $120 million.

Infosys would aim to keep margins in the 25-26% range for the near term, depending on currency fluctuations, said Bansal.

(Image: Reuters)