Wipro unveils Vision 2004

NetScribes/Salil Panchal

Wipro is making a pitch for the top. The Indian software giant has charted out an ambitious plan called "4X4", which is designed to make it one of the top 10 global technology service providers in the next four years. The plan projects a huge 1,677 per cent growth in Wipro's revenues by 2004.

The strategy, which has been circulated internally by Wipro vice president and CEO Vivek Paul to the company's internal team, expects revenues to touch $4 billion at the end of four years.

The stock markets seem to have sniffed out the news. The scrip has jumped 14.8 per cent in the past six days, from Rs 2,753.10 on August 23 to Rs 3,160.60 on August 29. The stock rose 3.26 per cent during intra-day trading on Tuesday and the counter witnessed trading of 0.83 million shares.

Two domestic brokerages - K R Choksey and SMIFS - have now upgraded the Wipro stock to a market outperformer.

The Wipro vision aims at three issues: to deliver time-to-deploy and quality advantages to its customers with the world's best processes and people, bring in an environment of empowerment, intellectual challenge and wealth sharing, and offer the complete spectrum of e-business, Internet and communication technology services.

Senior Wipro team members met through August 10-12 to define Vision 2004; the white paper was put out earlier this week.

According to the internal team, Wipro's revenues would jump from $225 million to $4 billion by 2004. "If we blow through our sales plan this year, to end the year at $400 million in revenues and grow at 80 per cent for the next three years, the company would end up with revenues of $3.2 billion by March 2004. The balance amount would come through acquisitions made in the same period," the report says.

The Wipro CEO has categorically stated in the note that if the company failed to make it to the top 10 global companies, it would be relegated to the ranks of an 'also-ran' company.

The company has also decided to use the current year's strategic planning exercise to lay out a specific three-year plan. Wipro plans to use its performance at the end of this year as a model on which to base the three-year projections.

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