Excerpts from CNBC-TV18's exclusive interview with the Satyam’s management Page 4

Q: What do you expect to achieve over the next four quarters in terms of a geographical balance. US has been diminishing. Do you see that diminishing even more dramatically over the next four quarters?

Raju: Directionally, we want to spread our risk and this has been a policy for the last five-six years; so this is one area where we have done fabulously well and we have been able to address issues around de-risking well. So, one would think that there is an opportunity in enhanced business in Europe or Asia Pacific region.

But one thing that needs to be noted is the fact that we have done extremely well in reducing our dependence on given market such as US or North America in general. So directionally that would continue to be an effort; we obviously cannot put specific numbers to where each region will be headed.

Q: The other logic which a lot of technology companies - your peers have been sharing with us is that they expect to see more off shoring this year because of the cost pain that a lot of companies would be going through. Are you getting any indication that may actually pan out or is that just been optimistic?

Mynampati: We are hearing so from couple of customers that we have spoken to while they are grappling with the realities of what they have to deal with. They are making direct statements to us saying that they would need us more in this market than ever before and they are asking us to partner with them in a much more strategic fashion to explore avenues of mutual benefit.

So I would tend to agree and I would probably support that theory that if situation is not as rosy as what we are used to, off shoring will obviously be a strategic initiative that companies would turn to. I think it would augur well for the Indian IT industry overall.

Q: What are your top five financial clients telling you? Are you getting any sense of distress from them?

Mynampati: What you hear in the general market is different and when we have conversations about how the spending patterns are and where can we engage with them then the news is different. You would not expect financial services customers to engage within a rate discussion but we have successfully negotiated with the couple of financial services clients for a better rate in the last month or so.

We are strategically positioned in servicing in a much broader way than what we have been engaged within a few customers. So I would not put financial services to be any different or unique than any other market except that they are trying to create a balance in a different side of their business and to me, investments on the IT would probably help them deal with that much better than otherwise; I do not think it would be any different.

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