Welcome to the
23
rd
Annual
General
Meeting
Annual General Meeting 2003 - 04
Operational Highlights
2003 - 04
S. Gopalakrishnan
Chief Operating Officer and
Deputy Managing Director
© Infosys Technologies Limited 2003 - 04
Safe Harbor
Annual General Meeting 2003 - 04
This presentation may contain certain forward looking statements. The
company may not achieve results as expressed or implied by such
forward looking statements. Actual results could differ materially from
those expressed or implied in such forward looking statements due to a
number of factors including those discussed under the head "Risk
factors" in the company's filings with the United States Securities and
Exchange Commission. Do not place undue reliance on these forward
looking statements. This presentation contains references to findings of
various reports available in the public domain. The company makes no
representation as to their accuracy or that the company subscribes to
those findings. They are provided only by way of information.
June 12, 2004
© Infosys Technologies Limited 2003 - 04
Proven Fundamentals
Annual General Meeting 2003 - 04
Predictability, Sustainability,
Profitability and De-risking

Deep rooted value system

Value driven client relationships

End-to-end suite of services

Pioneered Global Delivery Model

Excellence in execution

Quality processes and systems

Best-in-class people and leadership

Scalability and resilience

Benchmark corporate governance
June 12, 2004
This is a milestone, not the destination.
We are moving forward on our journey…
© Infosys Technologies Limited 2003 - 04
New Game… New Rules
Annual General Meeting 2003 - 04

Clients demand a “defined” benefit
for every IT dollar spent

Change the meaning of “Value for
Money” with Global Delivery Model

Businesses seek end-to-end
solutions that are also cost effective

Integrate the suite of services to
meet clients’ business needs

Traditional total outsourcing model
faces rough weather

Demonstrate strengths of “Modular
Global Sourcing” model

Competitors race to replicate the
Global Delivery Model

Build on the extensive experience
and hone the Global Delivery Model

Ability to scale and meet client
needs emerges as a differentiator

Grow rapidly based on the intrinsic
resilience built over years

War for acquiring and retaining bestin-class global talent intensifies

Continue to build and motivate a
team of the best and the brightest
June 12, 2004
© Infosys Technologies Limited 2003 - 04
Geographical Footprint
Annual General Meeting 2003 - 04
Geographies
North America
Europe
India
Rest of the world
Total

FY 2004
71.2%
19.2%
1.4%
8.2%
100.0%
FY 2003
73.0%
17.7%
2.1%
7.2%
100.0%
FY 2002
71.2%
19.5%
2.0%
7.3%
100.0%
Focus on geographical diversification

53% Revenue growth in Europe, relationships with Europe head-quartered clients

Infosys Australia formed to address the Australian market

Infosys Shanghai formed to service the global and Chinese markets

Operating through 31 marketing offices in 16 countries. Further developed the 31 global
development centers out of which 13 are outside India

Banking Business Unit made significant headways in several countries including
Mauritius, Zimbabwe & China
June 12, 2004
© Infosys Technologies Limited 2003 - 04
Vertical Footprint
Annual General Meeting 2003 - 04
Industries
Manufacturing
Insurance, Banking & Financial Services
Insurance
Banking & Financial Services
Telecom
Retail
Energy & Utilities
Transportation
Others
FY 2004
14.8%
36.6%
23.7%
12.9%
16.6%
11.6%
3.0%
7.1%
10.3%
FY 2003
16.4%
37.6%
23.3%
14.3%
15.2%
11.4%
2.9%
6.8%
9.7%
FY 2002
17.1%
36.7%
20.4%
16.3%
15.6%
12.3%
2.0%
2.7%
13.6%

Re-organized along verticals in Nov. 2003 to align with clients’ business needs,
develop business solutions and evolve go-to-market strategies

Enterprise Capability Units (ECUs) formed to enhance service capability and
develop innovative frameworks e.g. InSpire by Enterprise Solutions (ES)

Professionals with specific domain expertise and consulting skills integrated
with the respective vertical business units
June 12, 2004
© Infosys Technologies Limited 2003 - 04
Services and Solutions
Annual General Meeting 2003 - 04
Service offerings
Development
Maintenance
Re-engineering
Package implementation
Consulting
Testing
Engineering Services
Other services
Products
FY 2004
25.7%
30.1%
6.0%
14.5%
3.7%
5.3%
2.2%
9.7%
2.8%
FY 2003
32.1%
28.2%
5.5%
11.0%
4.3%
3.4%
2.6%
8.3%
4.6%
FY 2002
32.0%
29.0%
10.1%
9.8%
4.2%
2.9%
2.6%
5.4%
4.0%

Enterprise Solutions (ES) and Independent Validation Services (IVS) lend significant competitive
advantage to the Global Delivery Model

Progeon continues to establish itself in Business Process Management Services, added 9 clients and
1,358 employees

Infosys Consulting formed with a planned investment of $20 Mn to integrate high end consulting with
execution excellence

Introduced the next generation “Modular Global Sourcing” model to provide a well-tested and
experienced approach to outsourcing
June 12, 2004
© Infosys Technologies Limited 2003 - 04
Client Relationships
Annual General Meeting 2003 - 04
Clients
Clients added during the year
No. of million $+ clients
No. of 5 million $+ clients
No. of 10 million $+ clients
No. of 20 million $+ clients
No. of 30 million $+ clients
No. of 40 million $+ clients
No. of 50 million $+ clients
FY 2004
393
119
131
51
25
12
6
4
3
FY 2003
345
92
115
41
16
9
3
2
-
FY 2002
293
116
83
25
16
6
-

Top 10 clients represent 36% revenues, 33% increase in 20+ Million $ clients.
High predictability with 93.4% repeat business

Engagement management structure improved. Continuous reinforcement of
client facing competencies, processes and systems

Exhaustive analysis and planning of strategic client relationships. Focused
actions plans to support clients’ business objectives
June 12, 2004
© Infosys Technologies Limited 2003 - 04
Building Trust, Demonstrating Predictability
Annual General Meeting 2003 - 04

Innovative “Client Advisory Council” established with senior client leaders to
discuss strategy and business directions

Pioneered the “Global Sourcing Summit” with distinguished client leaders to
provide a platform for sharing experience and learning

Flagship client forum “Milan” (USA and Europe) and Leadership Forum in
Japan continue to provide greater opportunities for learning and growth

Wharton Infosys Business Transformation Award (WIBTA) continues to grow
from strength to strength with wider participation from industry leaders

InStep Global Internship grew by 100% with reputed global institutions
spanning US, Canada, Europe, Australia, Singapore and Japan

Ranked as one of the world’s “Top Brands With A Conscience” (amongst the
only seven companies identified by The Medinge Group)

Rated #1 in last 2 successive benchmark surveys of the professional services
industry conducted by Technology Business Research
June 12, 2004
© Infosys Technologies Limited 2003 - 04
Operational Effectiveness
Annual General Meeting 2003 - 04
Onsite-Offshore Ratio
0%
64.3%
25%
33.3%
25%
50%
35.7%
50%
82.0%
75%
82.2%
75%
73.4%
100%
77.6%
100%
66.7%
Utilization Rates
0%
Including Trainees Excluding Trainees
2003 2004
Onsite
Offshore
2003
2004

PRidE : “Process Repository @ Infosys for Driving Excellence” developed and integrated with tools
and knowledge base to optimize execution across the world

Improved quality & productivity through standardization of engineering processes for key technologies
with tools, methodologies and reusable components and frameworks

Six Sigma for enhanced customer focus and improved service delivery in maintenance, production
support and engineering design

Enabled people with focused accreditation programs such as CSQA, PMI, CSTE, CFPE, Quantitative
Project Management and Statistics for Decision Making
June 12, 2004
© Infosys Technologies Limited 2003 - 04
Best-in-class People
Annual General Meeting 2003 - 04
Total Employee Strength*
20000
15000
Attrition
25,634
15%
15,876
10.5%
10,738
10%
6.2%
10000
6.9%
5%
5000
0
0%
2002
2003
2004
2002
2003
2004
* consolidated

Initiatives with education regulators to expand talent pool in India. Launched “Campus
Connect”, a program to improve industry readiness of students

Sustained focus on recruiting the top 20% from best schools. 907,922 applications
received of which 17,978 were interviewed and 10,077 hired

Continued investments and innovations in developing people competencies. Established
the Enterprise Solutions University

Reinforced High Performance Work Ethic by further aligning the variable compensation
program with business results at organization, team and individual levels
June 12, 2004
© Infosys Technologies Limited 2003 - 04
World-class Infrastructure
Annual General Meeting 2003 - 04

40,46,250 Sq. Ft. space, with a capacity to accommodate 22,730 professionals

Additional 22,27,000 sq. ft. nearing completion in Bangalore, Bhubaneshwar,
Chennai, Hyderabad, Mysore & Pune

World-class Education & Research infrastructure to accommodate 4,000 trainees

Rs. 341 Crores spent on developing physical infrastructure

Rs. 88.9 Crores spent on developing state-of-the-art technological infrastructure

27,000 Sq. Ft. of disaster recovery and business continuity facility in Mauritius
commissioned
June 12, 2004
© Infosys Technologies Limited 2003 - 04
Key Awards
Annual General Meeting 2003 - 04

Awarded the prestigious global “Most Admired Knowledge Enterprises
(MAKE)” Award, for the year 2003

Ranked 34 among WIRED magazine’s 40 companies that are
reshaping the global economy

Ranked 74 among the top 100 fastest growing IT companies in the
world, by Business Week

Rated as India’s most respected company by Financial Times - PwC
survey

Presented the Texas Instruments (TI) Supplier Excellence Award for
dedication and commitment to high standards for excellence
June 12, 2004
© Infosys Technologies Limited 2003 - 04
Reinforcing Stakeholder Value
Annual General Meeting 2003 - 04
 Revenues cross the Billion Dollar mark with industry benchmarks in performance
 Strong financials, best in class corporate governance, high cash reserves
 Proven business model coupled with robust Enterprise Risk Management practices
 Meeting clients’ changing business requirements, aligned structure, services and solutions
 Effective and seamless integration of strategic acquisition and subsidiary organizations
 Complete suite of services including high-end business consulting and BPM
 Focused investments in business – Enhanced domain expertise and service offerings
 Investments into world-class infrastructure, research and Knowledge Management
 Evolving next-generation GDM for greater differentiation and value to global customers
 Employer of choice while retaining the advantage of cost that brings value to client
 Offering global careers to over 25,000 employees from 34 countries
 Implementing best HR practices to attract and retain best-in-class employees
June 12, 2004
© Infosys Technologies Limited 2003 - 04
Annual General Meeting 2003 - 04
Thank You
www.infosys.com
© Infosys Technologies Limited 2003 - 04