Today i was reading the article on TCS increasing its billing rates by 3-5% on renewal contracts & 5-10% in new contracts."If there is an opportunity to increase the billing rates in the existing contracts, we will do so. In fact, in all contracts (existing), there is a contractual clause to renegotiate the rates when it is up for renewal. When there are fresh new contracts and competency is involved, and customer is willing to pay for the expertise, we will raise the rates. For existing contracts up for renewal, we will raise the rates by 3-5% and for new ones, the hike will be 5-10%," company CEO S Ramadorai said.

Other key highlights in the article:

TCS recently bagged a $100m outsourcing deal from US-based healthcare major Kimberley Clarke

It is reported to be close to bagging a multi-million dollar deal from IMF.

TCS also bagged a deal from Eli Lilly to establish Medical Information Sciences Centre in India to advance Lilly's clinical research and development. The deal is believed to be multi-year engagement worth $35m.

Earlier Tata group company had also won a $90-million Qantas deal

Source: 1

Prashanth Rai