Tech major Tata Consultancy Services (TCS) has planned capital expenditure of Rs 2,300-crore in FY 12,the company chairman Ratan Tata said at the annual general meeting (AGM). Tata made the statement responding to queries by shareholders who sought to know about expansion and future plans of the company during the AGM. He,however,did not elaborate much about expansion plans. "We saw a growth of 32 per cent last year in the banking and financial services (BFSI) segment. TCS is looking for further investment opportunities in other markets. The company's focus will be on growing retail and high technology verticals in the current year. We will continue to see current growth level," Tata said. Last year was a record breaking year for the company and it was ranked the ninth largest company in the world in terms of revenue,and number four,by revenue and market capitalisation,he said,adding that the company had 1.9 lakh employees as of March 2011. "Demand for services offered by Indian technology firms has been rising,but currency volatility,wage inflation and growing competition from global firms such as IBM and Accenture are key risks," he observed. Questions put to him by shareholders about his succession failed to elicit any response. He merely said that "I don't have anything to say about my succession. There is a committee in place and it will find the right person. I faced the same kind of thing when I took over from JRD. Obviously,nobody can do the job forever and we all have to move on," he said.
