India's IT major Tata Consulting Services (TCS) is upbeat on sustaining its growth during the current fiscal by striking new deals and renewing existing contracts at higher prices, a top company official said here Friday.

"We are able to bid for new clients and renew outsourcing contracts for old or present engagements at higher price ranging from three to five percent. Pricing is getting better for offshore projects in IT and BPO services," TCS chief executive officer and managing director S. Ramadorai told reporters.

The company's strategy is to strike a balance between customers renewing contracts with higher business volumes and those offering higher prices for projects requiring specialised skills.

Even as the company scouts for new clients and braces up to renew present contracts with better pricing, it is keenly waiting for the renewal of contract by its largest customer - General Electric (GE), which accounts for nine percent of its total revenue.

"The GE contract will come up for renewal by this year-end (December) and new contracts are expected to be signed in January 2007," Ramadorai disclosed, admitting the US-based global major tends to lower contract costs on higher volumes.