Date:23/02/2008 URL: http://www.thehindubusinessline.com/2008/02/23/stories/2008022350030400.htm

Back Hexaware new offshoring deals get higher price

Our Bureau

Mumbai, Feb. 22 Hexaware Technologies has said that it has managed to command higher pricing of between 3-10 per cent on new offshoring deals.

“We see a pricing uptake in every geography where we have presence. The trend is, however, more evident in the US,” said Mr Rusi Brij, Vice-Chairman and Chief Executive Officer, Hexaware.

However, on existing contracts, pricing continues to remain flat, Mr Brij added.

Hexaware added about 16 new clients and 300 employees in the current quarter. The company plans to hire another 1,500-2,000 people for fiscal year 2008.

Nearly three months after Hexaware Technologies detected unauthorised foreign exchange transactions carried by an internal official, the company has said that the concerned official has been sacked, as the transactions were fraudulent in nature.

“Hexaware has sacked the official primarily responsible for committing the company into the exotic forex options. He was the authorised signatory for forex commitments on the company’s behalf,” Mr P.K. Sridharan, Executive Director & Chief Mentor, said.

The official was in the treasury department reporting to Mr Rajesh Ghonasgi, Chief Financial Officer. However, the company did not name the official involved.