Jul 26, 2010
Sanjay Govil and family Infinite Computer Solutions Worth: Rs 535 crore
Sanjay Govil thanks his family for backing him to the hilt 15 yrs ago, when he quit a cushy job with Verizon in the US to start an IT outsourcing business in India with a mere $ 1000. Today the 40-plus chairman of Bangalore-based Infinite Computer Solutions moves around in either his BMW 5 series or Mercedes S-550, and has repaid his family’s faith by building a sound business. Govil has taken his firm to revenues of 600 crore in FY 2009-10, growing 20 percent over 2008-09. The company’s debt equity ratio is a mere 0.19 and the interest cover is 14 times. The company has a low debt incidence and is generating enough cash to pay interest. “I learnt a lot from my dad, who was a professor at IIT-Delhi,” says Govil, who loves travelling and tennis. “The IIT campus gave me a foundation to be humble and yet dream big.”
Today, he is big. After taking his company public in 2010, Govil’s 64 per cent holding in Infinite translates to Rs 535.4 crore, catapulting him into the league of India’s rupee billionaires. He earns enough to put his kids in Sidwell Friends High in Washington, where US President Barack Obama’s children study.
Analysts say Infinite derives over 70 per cent of its revenues from application development and maintenance and testing services. The only concern is that historically, Infinite has been heavily dependent on a few clients for most of its revenues; 90 per cent of its revenues come from the US, one of the reasons why Govil spends all his time there. But having a management team he can trust – especially CEO Upinder Zutshi and president Neeraj Tiwari- has made it easy for Govil
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