This summary is based on the second quarter fiscal 2008 earnings call conducted by Satyam Computer Services Ltd. (SAY: chart) on October 23, 2007.

Management:

CFO: V. Srinivas
Founder and Chairman: B. Ramalinga Raju
Member of the Board and President, Commercial & Healthcare Businesses, Satyam, Chairman of Citisoft Inc.: Ram Mynampati
CEO, Nipuna: Venkatesh Roddam

Key Investors Issues

- Net profit rose 28% to 4.09 billion rupees ($103 million) from 3.20 billion a year ago.
- Sales rose 11% to 21.4 billion rupees ($539.51 million).
- Sequential volume growth for the parent company was 9.1% with onsite volumes growing at 13%.

Second Quarter Highlights

Satyam recorded sequential revenue growth of 12.7% in US dollars.

However, continued appreciation of the rupee against all major currencies reduced the corresponding growth rate in rupees to 11%.

EPS was rupees 6.12.

The company continues to be optimistic about future on the back of a stellar second quarter performance.

The company has seen strong demand across all verticals, with TIMES and BFSI performing well.

TIMES continued its strong growth with a 20% increase sequentially, while BFSI grew by 12.4% sequentially.

The noteworthy growth rate of BFSI validates belief that recent concerns in the market segment had little or no effect on core business in this vertical.

The demand for services in the Consulting and Enterprise Business Solutions space continues to be strong and led to a 14% sequential growth.

Satyam''s early adoption of strategic deals as an area of focus is resulting in larger and longer term engagements. The company sees this as a sustainable trend.

The second quarter witnessed Satyam negotiate a 5-year engagement within an oil and gas major. The company signed a multi-year deal with Fujitsu Services for providing global outsourcing services to Reuters. Both these contracts are amongst the largest multi-year deals signed by Satyam. These wins reflect growing maturity in emerging verticals that have been in focus in recent times.

The company continued global expansion.

Revenue from Rest of World and Europe grew by 27% and 17% respectively. This growth is supported by the diversified workforce across these regions. India in addition to being the competency hub is also emerging as an attractive market for Satyam.

A noteworthy event was the inauguration of the Automotive Center of Excellence in Chennai. The company continues to win and ramp up engagements with strategic clients in efforts to enable business transformation. The company added 8 more Fortune global firms to customer list. The company has witnessed increase from 190 to 213 in the number of customers with run rate of $1 million. The company believes that both the aforementioned customer categories are indicative of potential to sustain the broad-based growth momentum.

Attrition at 3.89% on a trailing 12-month basis has been on the decline for the fifth consecutive quarter.

Satyam has been awarded the pride of place in American Society for Training and Development''s best rankings with Number One ranking globally for the year 2007.