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HCL shuffles businesses into three decks

T O D A Y

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As part of the restructuring exercise by the Rs 22.84 billion group, companies like HCL Peripherals, HCL Infosolutions and HCL OA would be merged to form HCL Infosystems to focus on volume business, especially in the domestic market, HCL Corporation Vice-President Arun Dang has said.

The newly formed HCL Technologies will be the holding company of all overseas companies, which are being controlled by HCL Consulting and will look after acquisition and development of new technologies and products.

NIIT, with all its subsidiaries, would remain a separate group company under the umbrella of HCL Corporation with focus on software development and training, Dang said.

The just completed exercise would enable the group to emerge as a true Indian multinational corporation in a few years, he said.

Dang pointed out that the company has set a goal of Rs 100 billion turnover by 2001.

The exercise, carried out with the aim of making HCL Corporation a premier global solution provider, would also make the group the largest vendor of the entire spectrum of information technology products and services by 2000, Dang claimed.

On its parting ways with Hewlett Packard recently, he said it is a strategic decision and HCL would continue to be the largest distributor of HP products in India.

Dang said the company's employees stock option plan had 25 per cent response and HCL planned to increase it to 80 per cent in the next three years.

The contribution from software and services to the total revenue of HCL Corporation increased to 62 per cent during 1997-98 from 32 per cent in the previous year.

HCL has 18 offices across the globe with several joint ventures in each of the frontline areas aimed at the niche market.

The just-concluded consolidation exercise was aimed at enlarging the business without disturbing the existing allies, Dang said.

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