Business Week on Wipro’s Premji
Wipro and its CEO Azim Premji feature on the cover of the Asian edition of Business Week.
Premji seems focused on just one goal: even more success. Wipro has grown from a small producer of cooking oil founded by his father in 1945 to a colossus by Indian standards: 23,000 employees, $902 million in revenues, and $170 million in profits for the fiscal year ended in March. Sales have increased by an average of 25% a year and earnings by 52% annually over the past four years.
Premji isn’t slowing down, either. Just a few years ago, Wipro did software coding and systems maintenance. Now it’s expanding into more ambitious areas such as high-end research, and helping customers design their IT systems. Consulting today represents 7% of Wipro’s revenues, up from zero two years ago. The firm has added 8,000 new employees in the past year, expanding its call-center services and beefing up software expertise in health care, retail, and energy. Premji has bought three companies, and he’s extending his global reach, especially to countries in the Middle East, where U.S. outfits are less welcome these days.
His goal is to turn Wipro into one of the Top 10 IT-service companies in the world.