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BENGALURU: Personal computer giant Dell’s India business grew at a healthy pace during the 2014-15 financial year to cross $2 billion in revenue from the country, driven mainly by growth from its services business.
The growth comes at a time when the privately-held company is looking to make significant in-roads in India and win market share from rivals such as IBM and HPE.
Round Rock, Texas-based Dell, which currently has important contracts with the government of India and other listed Indian corporates, is investing heavily and betting on emerging economies and geographies like Asia, given the growing consumption of technology in countries like India and China.
According to documents posted with the Ministry of Corporate Affairs, Dell’s India revenues have crossed the significant milestone of $2-billion from India. For the year ended March 2015, Dell International Services India posted a revenue of .`12,930.6 crore, or about $2.11 billion taking into account average dollarrupee exchange rates during the same period, compared with .`10,625.8 crore during the year-ago period -- implying a revenue growth of nearly 21%.
Even as Dell's India business posted a net profit of .`320.6 crore — more than twice the profit last year — the company's total expenses went up by 20% to.`12,443.1crore.
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Dell, which went private in 2013, competes with global rivals Hewlett-Packard, Lenovo and IBM in India's nearly $50-billion IT market. CFO Sweet, at that time had said being a privately-held company is helping Dell make investments in countries such as India without any shortterm quarterly focus. According to documents posted on the Ministry of Corporate Affairs website earlier in February, IBM India's revenues stood at .`21,160 crore ($3.46 billion), up 2.6% from .`20,616 crore last year. Lenovo India's revenue stood at .`5,667.2 crore (or about $930 million) for the year ending March 31, 2015.
ADell spokesperson did not immediately respond to an email seeking additional comment on Dell’s current India strategy. In an interview last year in September, Dell founder and CEO Michael Dell said India would continue to be one of its most important markets globally in the near term.
"We see tremendous opportunities to keep growing India. India went from not being in the top 10 markets for Dell to now being No 3. India grew 30% last year for Dell, which is fantastic. We think that it can continue to grow at a healthy pace, so our investments will be in line with that," Dell told ETlast year.
Dell CFO Tom Sweet had last year said the company had set a target of touching $3 billion of revenue from the country within a year or two.