Tech Mahindra is the one of the biggest provider of Indian IT services and telecoms software. It is the sixth largest software exporter.  Recently, an announcement was made by the company officials that it is going to invest $150 million over the next three years to open four development centers across India in Pune, Kolkata, Chandigarh and Noida. These centers will provide employment to approximately 16000 people. Company has already has three centres in Noida, two in Kolkata and one in Chandigarh. Tech Mahindra has one of the highest returns on capital employed ratios.

During this quarter, it has joined hands with Microsoft Corp. The aim of this joint venture is to deal with System Integration (SI) requirements to be used in Microsoft’s Mediaroom Internet Protocol television (IPTV) and multimedia software platform. The Company is doing a lot to strengthen its IPTV capabilities by establishing system integration capabilities, product engineering and infrastructure deployment. Recently, the company is selected as the vendor of Systems Transformation Program by BT Group. This deal will generate profit of USD 700 Million.

The company has shown a rise in its Q1 2008-09 to Rs 254.36 Crore from Rs 171.90 Crore in the quarter ended June 2007.The Company has registered its net sales to Rs 1100.70 Crore in the quarter ended June 2008 against Rs 843.10 Crore for the corresponding period a year back. During the quarter, the company’s total income also grew to Rs 1125.73 Crore from Rs 852.60 Crore a year back.However, expenses of the company for the Q1 2008-09 rose to Rs 819.34 Crore from Rs 646.70 Crore a year back. Its onsite and offshore revenues grew by 4% and 13 % as compared to previous quarter.

The company has posted its consolidated results for the quarter ended June 2008. Its net profit for the same period stood at Rs 258.6 Crore against Rs 170.3 Crore for the same quarter in 2007. During the Q1 2008, total income rose to Rs 1142.4 Crore from Rs 889.4 Crore a year back.

I have reviewed its share price, Rs 692.20 was reported in the beginning of July but by the mid of month it dipped to Rs 662.60. In this week the share price has registered a tremendous rise at Rs 769. Today its share price started at Rs 699 and after few minutes it reached to Rs 726.10. At 13:58, its price is reported at Rs 723.10