Top 20 Indian IT firms grow 19% in 2008-09

The Top 20 Indian hardware and software companies grew 18.7 per cent in rupee terms to report revenue of Rs 183,621crore (US$ 39.52 billion) in the financial year 2008-09, compared to Rs149,250 crore in 2008, a Dataquest (DQ) survey revealed.

The survey found that 2008-09 was a mixed bag for the companies, with IT Services companies — export and domestic — recording growth, while hardware taking the brunt of the economic slowdown, thirteen of the Top 20 companies reported revenues of over US$1 billion, led by TCS, Wipro, Infosys, HP, IBM (See table).

Seven companies in the DQ Top 20 recorded single digit revenue growth including global multinationals Microreosoft India (one per cent growth to Rs 3,298 crore), HP India (two per cent growth to Rs 15,763 crore ), Oracle (three per cent growth at Rs 5,962 crore), and Cisco (four per cent at Rs 6084 crore).

Eight Fastest Companies
“What may look surprising is that export firms doing business in recession-affected developed markets did better than those focused on the Indian market,” CyberMedia (publisher of Dataquest) President & Chief Editor Prasanto K Roy.

Despite the slowdown, which did croreeate a negative sentiment in the market, eight companies clocked good growth in the Top 20s. The eight fastest growing companies included MphasiS (41 per cent at Rs 3,173 crore), HCL Infosystems (37 per cent at Rs 8,089 crore), Cognizant Technologies (33 per cent at Rs 9,410 crore), Wipro (29 per cent at Rs 23,882 crore), HCL Technologies (29 per cent at Rs 8764 crore), SAP India (25 per cent at Rs 4,320 crore), Dell India (24 per cent at Rs 4,266 crore) and Infosys (24 per cent at Rs 20,392 3173 crore).

TCS grew 18 per cent to clock revenues of Rs 25,895 crore, followed by IBM India which grew 16 per cent to clock Rs 12,048 crore — combined for hardware and software, Patni Computer Systems (15 per cent to Rs 3,011 crore), Accenture (14 per cent to Rs 4400 crore ).

MphasiS grew 69 per cent to Rs 3,173 crore and jumped five ranks to enter the Top 20 club, while Patni Computers made a comeback after two years by growing its revenues by 17 per cent to Rs 3,011 crore. On the other hand, Satyam exited the Top20 for obvious reasons, while Lenovo too, moved out of the elite club by recording a de-growth of 18 per cent.

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