Hexaware ups revenue guidance to $60 mn

Software services firm Hexaware Technologies on Monday said it has raised its revenue guidance to $60 million for the quarter ended December 31, on the back of improving order pipeline.

The company, which had earlier forecast its revenue to be between $58 million and $59 million for the third quarter of 2010-11, has also surpassed its annual headcount addition guidance of 1,000.

"With the enhanced revenue visibility on account of the large deals secured in the second quarter and the improving quality of the deal pipeline, we have surpassed the annual guidance of net addition of 1,000 employees in just eight months," Hexaware Technologies Chairman Atul Nishar said in a filing to the Bombay Stock Exchange.

Hexaware has added 1,115 employees in 2010, taking its global headcount to 6,252 as of August this year.

It said the employee addition would enable the company deliver orders at hand and facilitate its participation in the demand uptake seen in the market, particularly in the American region.

The company is also upgrading the revenue guidance for the third quarter to a sequential quarter-on-quarter revenue growth of 9.2 per cent. The  revenue for the third quarter of 2010-11 is likely to be $60 million, he added.

The company has recently set up a global delivery centre in Bangalore, with an initial capacity of 250 seats, Nishar said.

Shares of Hexaware Technologies rallied 10.42 per cent to trade at Rs 79.45 on the Bombay Stock Exchange.