Key players in IT sector
Key players in IT sectorUpdated: Jul 27, 2007 01:49 IST
Tata Consultancy Services
After reaching revenues of $4 billion, India’s biggest software service company has had a dream run — in terms of shareholder sentiment, industry growth, and hiring talent.
The year 2006-07 saw the company posting revenues of Rs 15,156.52 crore, a 34.2 per cent increase over the previous year. With this growth, TCS added 22,750 people to its workforce thereby taking its total staff strength to 85,000 employees through recruitments and mergers and acquisitions that the company undertook in the year.
The company has set a target of achieving $10 billion in revenues by the year 2010, and says that it is on track to achieve that target.
Infosys Technologies, plans to hire 24,000 people in 2007-08 — and that is a sign of its growth ambitions. In the fiscal year 2006-07, the company, India’s No 2 software exporter, posted revenues of Rs 13,149 crore, a 45.6 per cent growth over the previous year.
This overall growth saw Infosys, which in 1999 became India’s first company to list on the technology-oriented Nasdaq stock exchange in the US, add about 30,000 employees in 2006-07, taking the company’s total headcount to 72,241.
The third largest Indian software exporter, Wipro, is 84 per cent controlled by billionaire Azim Premji. It also has interests in computer hardware, consumer goods and business process outsourcing (BPO). Wipro has more than 68,000 employees in IT and BPO put together.
The company has increased its focus in non-US regions and Europe, and Japan has also emerged as key market. In Europe, Wipro has acquired several companies to strengthen its focus on developing software for the retail and telecom industry segments.
India’s software industry abounds with giants and would-be giants. In the services sector, other prominent names include HCL Technologies, Tech Mahindra, Patni Computer Systems and Satyam Computer Services.
In software products, I-flex systems, which is being acquired by Oracle, and Subex Azure are among the majors.
First Published: Jul 27, 2007 01:38 IST