Top 10 software companies in India

[K.Karthik Raja]

Top 10 software companies in India

1. Tata Consultancy Services

The Indian software industry is set to keep up its growth rate despite
the slowdown in the economy. The National Association of Software and
Services Companies (Nasscom) has forecast a strong outlook for FY08-09
strong with software and services revenue seen growing by 21-24 per
cent. The software and services exports are set to hit the $50 billion-
mark.

The software and services exports segment grew by 29 per cent (in USD)
to register revenues of $40.4 billion in FY07-08, up from $31.4
billion in FY06-07. The domestic segment grew by 26 per cent (in INR)
to register revenues of $ 11.6 billion in FY07-08. According to the
latest Nasscom rankings, Tata Consultancy Services Ltd., Infosys
Technologies Ltd. and Wipro Technologies Ltd are the top 3 revenue
generators in India. Check out the top ten players in the Indian IT
industry.

2.TCS

Founded in 1968, TCS is one of India's largest corporate houses. It is
also India's largest IT employer with a staff strength of 111,000
employees.

The company began as a division of the Tata Group, called the Tata
Computer Centre. Its main business was to offer computer services to
other group companies. Soon the company was spun off as Tata
Consultancy Services after it realised the huge potential of the
booming IT services.

The company posted a consolidated net profit of Rs 1,290.61 crore (Rs
12.90 billion) for the first quarter ended June 30, 2008, an increase
of 7.3 per cent compared to the year-ago period.

Its annual sales worldwide stands at $5.7 billion for the fiscal year
ending March 2008. During the year 2007-08,
TCS' consolidated revenues grew by 22 per cent to Rs 22,863 crore
($5.7 billion). S. Ramadorai, is the chief executive officer and
managing director of TCS.

TCS is IDC-Dataquest IT best employer in IT services in 2007. TCS also
topped DataQuest DQTop 20 list of IT service providers in 2007

2. Wipro

What started off as a hydrogenated cooking fat company, Wipro is today
is a $5 billion revenue generating IT, BPO and R&D services
organisation with presence in over 50 countries.


Premji started Wipro with the 'idea of building an organisation which
was deeply committed to values, in the firm belief that success in
business would be its inevitable, eventual outcome'. The company has
over 72,000 employees.

Wipro's revenues grew by 33 per cent to Rs 19,957 crore (Rs 200
billion) for the year ended March 31, 2008. The net profit grew by 12
per cent to Rs. 3,283 crore (Rs. 32.83 billion). The revenues of the
combined IT businesses was $4.3 billion with 43 per cent YoY growth.

Wipro was the only Indian company to be ranked among the top 10 global
outsourcing providers in IAOP's 2006 Global Outsourcing 100 listing.
Wipro has also won the International Institute for Software Testing's
Software Testing Best Practice Award


3. Infosys

Infosys Technologies Ltd was started in 1981 by seven people with
$250. Today, the company boasts of revenues of over $ 4 billion and
94,379 employees.

Under the leadership of N R Narayana Murthy, the company has become a
global brand. The company is now headed by Kris Gopalakrishnan. The
income for the quarter ended June 30 2008 was Rs 4,854 crore (Rs 48.54
billion). The net profit stood at Rs 1,302 crore (Rs 13.02 billion).

Forbes magazine named Infosys in its list of Global High Performers.
Waters magazine rated Infosys as the Best Outsourcing Partner. The
Banker magazine conferred two Banker Technology Awards on Infosys to
acclaim its work in wholesale and capital markets in two categories -
Payments and Treasury Services, and Offshoring and Outsourcing.

The International Association of Outsourcing Professionals (IAOP)
ranked Infosys at No. 3 in its '2008 Global Outsourcing 100'

4. Satyam Computer Services

Established in 1987 by Ramalinga Raju, Satyam has a staff strength of
51,000 employees. In 2008, the company's revenues crossed the $ 2-
billion mark.

'A simple, yet extensive management model to create value, which
promotes entrepreneurship, a focus on the customer, and the constant
pursuit of excellence,' is the company's mantra for success. In
FY2008, its revenues saw a growth of 30.7 per cent to Rs 8,473.49
crore (Rs 84.73 billion) compared to fiscal 2007.

The net profit stood at Rs 1,687.89 crore (Rs 16.87 billion), a growth
of 20.2 per cent over fiscal 2007. Satyam is among the youngest IT
service companies to reach $1 billion in annual revenues. It is ranked
No. 1 in the ASTD (American Society for Training and Development) BEST
Award, 2007

5. HCL Technologies

HCL is a leading global technology player with annual revenues of $4.9
billion. The HCL Enterprise comprises two companies listed in India,
HCL Technologies and HCL Infosystems. Founded in 1976, HCL is one of
'India's original IT garage start ups'.

The HCL team comprises 53,000 professionals of diverse nationalities,
operating across 18 countries. At a time when India had a total of 250
computers, Shiv Nadar led a young team which passionately believed in
the growth of the IT industry.

Three decades later, he succeeded in creating a $ 4.9 billion global
enterprise. The company has reported consolidated revenue of Rs 3017.5
crore (Rs 30.17 billion) during the quarter ended March 31, 2008. The
profit after tax stood at Rs. 81.5 crore (Rs 815 million).

6. Tech Mahindra

Tech Mahindra was incorporated as a joint venture between Mahindra &
Mahindra and BT plc in 1986 under the name of 'Mahindra-British
Telecom'.

Later, the name was changed to 'Tech Mahindra', in order to reflect
the diversification and growth of the client base and service
offerings. The company was incorporated in 1986. Tech Mahindra is a
global systems integrator and business transformation consulting firm
focused on the communications industry. At the helm of the fast
expanding organisation is Vineet Nayyar.

In a career spanning over 40 years, he has worked with the government,
international multilateral agencies and the corporate sector. Tech
Mahindra's net profit rose 8.57 per cent to Rs 196.4 crore (Rs 1.96
billion) on 6.09 per cent growth in net sale to Rs 911.6 crore (Rs
9.11 billion) in Q3 December 2007 over Q2 September 2007.

7. Patni Computer Systems

Patni Computer Systems Ltd one of the leading global providers of
information technology services and business solutions. The company
has clients across the Americas, Europe and Asia-Pacific locations.

The company has serviced more than 400 Fortune 1000 companies, for
over two decades. Patni Computer Systems Limited was incorporated on
10 February 1978 under the Companies Act, 1956. On 18 September 2003,
the Company converted itself from a private limited company into a
public limited company.

The company headed founded by Narendra K Patni by has a staff strength
of over 14,000 professionals. The revenues for the quarter ended March
2008 stood at $ 176.4 million (Rs. 7,061.2 million) up 13.1% YoY from
$ 156.0 million (Rs. 6,724.1 million). The net income for the quarter
at US$ 18.1 million (Rs. 724.6 million) down 35.0 per cent YoY from $
27.8 million (Rs. 1,200.3 million).Frost & Sullivan ranked Patni 1st
among 'Top 5 Engineering Service Providers'.

8. i-flex Solutions

iflex started as a division of Citicorp (now Citigroup), wholly owned
subsidiary called Citicorp Overseas Software Ltd. (COSL) in 1991.
Later, a separate company Citicorp Information Technologies Industries
Ltd. (CITIL) was formed and Rajesh Hukku was appointed as its head.

CITIL started off with the universal banking product, MicroBanker
which became very successful. In the mid-90s, CITIL developed Flexcube
at its Bangalore development centre. After the launch of Flexcube, all
of CITIL's transactional banking products were brought under a common
brand umbrella. CITIL changed its name to i-flex solutions to reflect
its growing independence from Citicorp and to strengthen its Flexcube
brand.

In 2006, i-flex became a majority-owned subsidiary of Oracle
Corporation i-flex posted a top line growth of 8 per cent QoQ with
revenue for the quarter ended March 31, 2008 at Rs 672 crore (Rs 6.72
billion) as compared to Rs 601 crore (Rs 6.01 billion) for the
corresponding quarter during the previous year representing a 12 per
cent YoY growth.

The net income for quarter stood at Rs 185 crore (Rs 1.85 billion)
representing 73 per cent growth QoQ. The revenue for the full year
ended March 31, 2008 stood at Rs 2,380 crore (Rs 23.80 billion), up 15
per cent as compared to the previous year.

9. MphasiS


MphasiS Limited was formed in June 2000 after the merger of the US-
based IT consulting company MphasiS Corporation (founded in 1998) and
the Indian IT services company BFL Software Limited (founded in 1993).

Jeya Kumar is CEO of MphasiS, which has a staff strength of 27,000
people. For the year ended 31 March 2008, the MphasiS Group recorded
revenues of Rs 2,423 crore (Rs 24.23 billion), a growth of Rs 662
crore, which is 38 per cent over the previous year.

The net profit increased by 42 per cent from Rs 180 crore (Rs 1.8
billion) to Rs 255 crore (Rs 2.55 billion) during the year ended 31
March 2008. MphasiS was named among amongst the Top 100 Companies in
Global Outsourcing.

10. L&T Infotech


L&T Infotech is a global IT services and solutions provider. It is a
subsidiary company of is Larsen & Toubro Ltd. (L&T), an engineering,
manufacturing and construction conglomerate, with global operations.

A M Naik is the chairman of the company. Originally founded as L&T
Information Technology Ltd (LTITL), a wholly-owned subsidiary of
Larsen & Toubro Ltd (L&T), the company changed its name to L&T
Infotech on 1st April, 1997. In 2004, it tied up with Fidelity
Information Services, a division of Fidelity National Financial to
provide banking solutions for the Indian banking industry. In 2007-08,
L&T had recorded revenues of Rs 29,600 crore (Rs 296 billion).