Mahindra Satyam, a leading global consulting and IT services provider, today announced the first quarter financial results for the fiscal year 2011-2012 and is expecting more growth in the Middle East and African (MEA) region to be driven in by the emerging presence of new domains, markets and industry verticals.

According to its recent performance reports, the leading company posted over USD 320 million in global revenue for Q1 FY 2011-2012, which is up 5.2 percent QoQ, 19.3 percent YoY. Mahindra Satyam is looking towards more growth in the MEA region with an increased stronghold in public sector (healthcare, e-government, and communications), oil & gas, and the sports industry. The upbeat attitude towards reinforcing its presence follows company's current work on more than 20 engagements in the Middle East.

Mahindra Satyam's product momentum towards current and emerging business segments demonstrates company's edge among other IT services providers. Leading industry analysts have shared that strategic factors like skilled resources, shared services and innovative pricing of models will play a large role in performance development of the region's IT segment. In line with this, Mahindra Satyam is seeing immense potential for Business Intelligence (BI), Enterprise Asset Management (EAM) and Mobility for the rest of the fiscal year.

"Mahindra Satyam has posted excellent growth figures for the first quarter of the present fiscal year. The increase in revenue demonstrates the continuous positive response that we have received towards our commitment to leverage key IT solutions and services across various industry verticals in the Middle East," said Bobby Gupta, Vice President and Head of Middle East and North Africa, Mahindra Satyam. "We are expecting to see more growth with the development of more smart cities in the region and accompanying industry verticals like the sports industry. We are also eyeing to play a major role in the region's development and emergence as a global IT destination."

Mahindra Satyam has won major contracts over the last few months, including implementations made on a major oil company in the UAE; a leading Islamic Banking institution in the UAE; a large railway project; IT advisory and consultancy services for a private equity company; an Oracle implementation with a leading Qatar university and also with one of Saudi Arabia's largest universities. The company has now also revealed its move towards exploring opportunities in Turkey, following its recent work with a Turkish Smart Metering company. With the move towards expanding in both the global and local markets, Mahindra Satyam's offices in the Middle East are poised to cross the 400+ number of associates over the ensuring FY 2011-2012.

"These are exciting times for the Middle East and African region's IT market, reflecting a continuous growth that spells growth and development. Taking advantage of the market's vibrancy, we are pushing Business Intelligence, Enterprise Asset Management, Mobility, Analytics and Cloud Computing services as our next areas of growth across strategic industry verticals. Ultimately, we are confident that our pipeline of projects for the next twelve months will consolidate our leadership in the region," concluded Gupta.

-Ends-