The latest performances of IT majors do suggest that the Indian IT story is still going strong. Though the IT sector is yet to catch up with its other industry counterparts in terms of net sales (as no single IT company figures in the top 10 of the Top 500 List), the heartening fact is that the industry continues to maintain its solid growth momentum with a host of firms charting double digit growth. Tata Consultancy Services (TCS) once again emerges as the top IT player with net sales of Rs.11,216.11 cr, up by 39.50% over the previous year. It is followed by two other majors, Wipro with net sales of Rs. 10,203.79 cr, and Infosys with net sales of Rs. 9,030 cr, ranked 26 and 31, respectively. However, in terms of growth in PAT, Satyam leads the pack with growth of 65%.
Skilled workforce, low cost of operations, moving up the value chain and growing geographical reach and internationalization are some of the factors helping the industry to maintain the growth momentum. With more and more IT companies looking to expand through acquisitions abroad, this could further give a boost to the growth momentum of the industry.
— Aniket Arekar, Research Manager