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Deloitte 50 fastest tech co ranking has majority from B'luru

N V Vijayajkumar, DH News Service, Bengaluru, Dec 5 2017, 22:31 IST
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Deloitte on Tuesday announced the 50 fastest growing technology companies ranking in the country as part of its Technology Fast 50 India 2017 programme and Bengaluru has majority of them with 19 winners.

Overall average three-year growth rate of this year's Tech Fast 50 India winners aggregated to just over 209%compared to 340% in 2016 and 356% in 2015.

The Deloitte Tech Fast 50 India Programme conducted by Deloitte Touche Tohmatsu India LLP (DTTILLP) ranks the fastest growing technology companies in India based on their percentage revenue growth over the last three financial years.

Stellapps Technologies Private Limited is the fastest growing company from Bengaluru registering 1278% three year growth second in the list. The company, founded by CEO & MD Ranjith Mukundan, is full stack IoT Company with key focus on the agile smart service delivery platform 'smartSDP„'.

Noida-based Polestar Solutions and Services India LLP was ranked No 1 with FY17 revenue coming in at more than 9x their FY15 revenue. The company was No.3 in the 2016 edition.

Bengaluru has 19 fastest growing technology companies in the Deloitte Technology Fast 50 India 2017 programme. GoodWorkLabs Services Pvt Ltd, Spire Technologies and Solutions Pvt Ltd, Byju's. Mobisy Technologies Pvt Ltd, Bridgei2i Analytics Solutions Pvt Ltd, Mobinius Tech Pvt Ltd, Silabtech Pvt Ltd and AVR Edge Networks Pvt Ltd are some of the companies which found place in the list from Bengaluru.

Last year's winner Greycampus Edutech continued its impressive growth and was ranked 13th this year. The second ranked company this year, Evolute Systems Pvt Ltd, saw their FY17 revenue jump more than 8x over their FY15 revenue, whilst the third placed Mobisy Technologies Private Ltd grew their FY17 revenue at more than 7x their FY15 revenue.

Deloitte India Partner and Program Director-Technology Fast 50 India 2017 Rajiv Sundar said over the 13 years of Technology Fast 50 India the composition of winners shift from generic software services provider to diverse activities, both product oriented and niche services, inclusive of highly capable analytics offerings, digital marketing, technology enabled education products & services, etc.

"While the overall technology sectors are witnessing global changes and disruptions, both on the technology developments and also regulatory impacts, we continue to be positive about capabilities and eminence of Technology businesses in India. Our winners of this year with their diverse offerings is a testament to that belief," said Sundar.

This year, the top 10 companies recorded an average three-year growth rate of just over 500%. Impressively, seven winners in Top 10 are repeat winners, with four of them having improved on their rankings from previous years. While the Top 3 recorded an average three-year growth rate of 727%, the Top 5 record just over 658%. Three year average growth rate across Top 50 winners was just over 209%.

While 36 companies are repeat winners, the list also has 14 new entrants, with 10 of these repeat winners having won 3 times or more now.

In a break from the past, product companies had a significant representation among the top 10 winners. Analytics companies as well as new age businesses such as IoT, Ad-tech and cyber security were also well represented in the Top 50 winners list.

The analytics segment has strong representation in Top 50 led by this year's winner Polestar Solutions. Other winners that offer niche analytics services include Bridgei2i, Tiger Analytics and LatentView.

Software product companies are making an impact on the Fast 50 rankings.This year's winners include Evolute Systems, Mobisy Technologies, Stellapps Technologies, Marketxpander Services, Robotic Wares amongst others. These companies are creating global products and competing with the best in the world.

EdTech companies such as the very popular Byju's and GreyCampus are repeat winners this year.

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