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TCS signs a multi-year agreement with Hilton Worldwide
TCS has signed a multi-year agreement with Hilton Worldwide, a leading global hospitality
company, to help accelerate and enhance Hilton Worldwide’s technology strategy as part
of the Hilton Worldwide innovative collaboration. The innovative collaboration will evolve
Hilton Worldwide’s technology infrastructure and accelerate innovation across the
company’s portfolio of 10 brands. TCS will manage Hilton Worldwide’s corporate suite of
applications in areas of property information management, learning management, quality
assurance, business intelligence, financial systems and intranet applications. It will leverage
its extensive experience in running large transformational initiatives and modernising
legacy systems to help develop a platform that keeps Hilton Worldwide in the forefront of
the business and technology landscape. This deal would augur well for TCS to scale its
revenue from IT Solutions and services vertical, which is seeing good traction as
discretionary spend and transformational deals are coming in. At the CMP of `1,151, the
stock is trading at 24x FY2012E EPS of `47.8. We maintain a Neutral view on the stock.
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