Infosys surges upon announcing a strategic collaboration with Germany based TK Elevator

This global seven-year partnership is an extension of the successful modernization of TK Elevator’s IT infrastructure in Europe and Africa.

Infosys Ltd, the leading provider of next-generation digital services and consulting, announced this afternoon that it has entered into a strategic collaboration with TK Elevator. The latter is one of the world’s leading elevator companies based out of Düsseldorf, Germany. Its product portfolio covers commodity elevators for residential and commercial buildings to cutting-edge, highly customized solutions for state-of-the-art skyscrapers. Moreover, it also comprises escalators and moving walks, passenger boarding bridges, stair and platform lifts

In this collaboration, the IT giant will consolidate and harmonize the global service desk and workplace operations. It will provide AI-powered IT helpdesk services, and digital workplace management, along with network services, fueled by Infosys Cobalt-driven automation framework.

This will enhance TK Elevator’s workplace experience by creating a resilient enterprise and digitally transforming its underlying IT infrastructure. The IT giant also intends to boost cybersecurity and enhance the digital experience for TK Elevator’s end users, by making use of its deep domain expertise, industry-grade IT infrastructure modernization capabilities, and a strong global presence. The collaboration, while improving availability of IT infrastructure, will bring down overall IT operational costs.

In the recent quarter Q4FY22, on a consolidated basis, the IT company’s topline increased by 22.67% YoY to Rs 32,276 crore. Similarly, the bottom line increased by 12.15% YoY to Rs 5,695 crore.

The company is currently trading at a TTM PE of 28.54x, against the industry PE of 28.32x. In FY22, the company delivered an ROE & ROCE of 29.39% and 39.96%, respectively.

At 3.17 pm, the shares of Infosys Ltd were trading at Rs 1,515.85, an increase of 1.06% from the previous day’s closing price of Rs 1499.95 on BSE. The stock has a 52-week high & low of Rs 1,953.70 and Rs 1,399.50, respectively on BSE.