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TCS set to become world’s third-largest IT services company. Apple inches closer to finalizing the location for its first retail store in India.
Heavy Weight Champion: Tata Consultancy Services (TCS) is set to become the third-largest software services provider in the world in FY18-19, surpassing DXC Technology, only behind International Business Machines (IBM) and Accenture.
DXC Technology, which was formed by the merger of Computer Sciences Corp. with a division of Hewlett Packard in 2017, needs to clock a 5.06% sequential growth in Q4 to end with $20.91bn in revenue. Most analysts however, believe that it is unlikely that DXC will manage this growth as it declares its fourth-quarter earnings on 23 May.
To Put Things Into Perspective: TCS grew 9.6%, adding $1.82bn in new business, to end with $20.91bn in revenue in the year ended 31 March.
In the first nine months of FY18-19, TCS generated $15.52bn in revenue, more than the $15.47bn in business done by DXC.
We Might Have a Winner Soon: Apple has reportedly shortlisted locations for its first retail store in India, as it seeks to redouble its efforts in the world’s fastest-growing smartphone market.
The giant has zeroed in on several upscale sites in Mumbai, and plans to make a final decision in the next few weeks.
Preferred Choice of Investors: Flexible working space saw a 277% jump in leasing to nearly 3 million sq ft in the first quarter of this calendar year. The first quarter also saw some of the big names in the industry including Ascendas Singbridge, Brigade, and OYO entering the co-working office space market.
With a sharp increase in leasing in the shared working space over the last few quarters, co-working is catching up as a preferred asset class for several leading developers and investors. More on this here.