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Cyient, an Indian multinational technology company that is focused on engineering, manufacturing, data analytics, and networks and operations held an investors' conference on November 18 in which it seemed to commit to achieving $ 1 billion in revenue by FY24 and maintaining 13-14 percent organic growth revenue guidance for FY23.

In an interview with CNBC-TV18, Krishna Bodanapu, MD and CEO of the company clarified this target and discussed new strategies for the company.

“USD 1 billion number that we talked about was a run rate number. So not necessarily USD 1 billion in FY24, but a USD 250 million quarter in the second half of FY24. The key is it’s not just what the numbers are, but how we are going to get to the numbers,” he said.

Also Read: 75 percent of the portfolio is growing, says Cyient as shares end higher

Bodanapu said that the factors that are driving the change in the business are sustainability, 5G and so on, which will show results in the next three to five years.

While talking about rail, healthcare and auto verticals, he said that growth will continue because of the change in technology.

"Our experience in some of the other industries like aerospace is actually becoming very relevant in automotive,” he added.

Also Read: Cyient seeks to spin-off a unit but wants to remain involved in it too — here's why

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(Edited by : Abhishek Jha)