It can be noted that this is in contrast to its larger rival TCS' bullishness about the domestic opportunity, following a spike in its revenues.

After releasing its results, the TCS management had said that its domestic revenue has turned around after many quarters of sluggishness and now accounts for 8 per cent of the overall revenue.

On the overall business trajectory, Gurnani said there will be a "substantial increase in capital expenditure, which was Rs 234.5 crore for the September quarter, in the next few quarters as it invests more in upcoming opportunities worldwide."

Among the areas that will see more ploughing of resources will be products, new markets and creating delivery capabilities, he said.

On the margins, which increased to nearly 20 per cent in Q2, Gurnani said there is a more headroom to grow, given the lower utilisation rates in early 70s.

"There is a clear desire to improve the margins, we have the operating levers to do so," he said, but refused to share a targeted level the company is looking at.