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Top 20 IT Companies Grow At 24% In FY 08, Sharp Drop From 41% In FY 07

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CyberMedia's Dataquest Indian IT industry survey 2008 reveals. Growth interrupted for Indian Infotech's Top 20, after three years of strong growth. Top 20 IT Exporters grow 29% against 45% last year. Three foreign MNCs: Accenture, SAP and Dell, enter Top 20 list. Top 20 Domestic IT players record 27% growth against 31% last year.
The Top 20 IT companies' in India, a
majority of them engaged in IT services exports, recorded a revenue
growth of 24% in the financial year 2007-08 as compared to 41% in the
previous year.



The Top 20 IT services exporters,
however, recorded a growth of 29% compared to a growth of 45%
recorded in FY 07. This has been revealed in part 1 of the 4 part
annual analysis of Indian IT industry by south Asia's largest
specialty media chain CyberMedia's flagship publication Dataquest.



A stronger rupee adversely impacted the
exports heavy Indian IT industry in FY 08 when the average value of
rupee in comparison to dollar rose 9% with a vast majority of the IT
companies still undaunted by a slowdown in the global outsourcing
industry.



In the Dataquest listing of the Top 20
IT companies from India, the top seven positions remained unchanged,
with TCS, Wipro, Infosys, HP India, IBM India, Ingram Micro and
Satyam Computer Services retaining their positions, from No 1 through
7. (HP India and Ingram Micro derive a major part of their revenues
from the sale of computer systems and peripherals, while the others
make money from exports of software services; IBM India has
significant services, domestic and exports, revenue, as well as
systems sales.) Unlike the previous year, there was no major change
in the rankings in the top 14 positions with no company moving up or
down by more than two places.



The DQ Top 20 Club, the ranking of top
IT companies in India by revenue, also saw changes, with three new
companies, two of them doing business primarily in Indian domestic
market, entering the list, while three exports-led firms made their
exit. Interestingly, all the three new entrants are non Indian firms,
Accenture, SAP and Dell, which replaced three Indian firms, Teledata,
Patni and Moser Baer, that ranks amongst the Top 10 CD makers in the
world.




The most spectacular story is the entry
of Accenture India at No 15 (the company was not tracked by the
Dataquest study in previous years, even though it was operating in
India its development centre for nearly a decade) and SAP India,
which rose six positions to be a No 18, driven by a strong
performance in the small and medium enterprise (SME) market, that
helped it record 84% growth.




The Dataquest Top 200 annual survey,
now in its 25th year, reflects the "services exports"
phenomenon driving Indian IT. The number of services firms (most of
them exports oriented) in the list of Top 200 companies rose to 95 in
FY 08 compared to 86 in the previous year. The Dataquest study notes
that despite a rise in the value of rupee, most export services firms
managed to maintain their operating margins.




"After three years of strong
growth, FY07-08 was a challenging year for the Top 20 companies in
several ways, not least of all due to the exchange rate which meant
an over 10 percent hit right away in rupee earnings, for exporters,"
says Pradeep Gupta, publisher of CyberMedia group. "Yet the fact
that the Top 20, especially the exporters, still grew as much as they
did speaks volumes about their robustness, domain expertise and
maturity".



Another significant variation in FY 08
from the trend in the last few years was inconsistent growth
witnessed in the industry. While the number of companies witnessing
negative growth jumped from three in FY 07 to 14 in FY 08,
establishing a record of sorts in recent years; the number of
companies that recorded three digit growths, also jumped from seven
in the previous year to 13 this year.




"This uneven growth means
companies that have differentiated themselves in some way, in a tough
year, began to reap the benefits of that strategy," said
Prasanto Kumar Roy, Chief Editor, Dataquest. "SAP, Dell and HCL
Insys, with the highest growth in the DQ Top 20, are examples of
this."



Most of the fastest growing companies
in FY 08 were specialised firms. For instance Financial Technologies
which grew over 674% made hay with software products for financial
market; Bartronics' specialisation in bar coding solutions got it
321% revenue jump; Prime Focus business went up 257% because of its
focus on software for films and entertainment; and KLG Systel topline
shot up by 122% because of its focus on products and solutions for
the utility sector.



Of the top 20 IT companies that did
maximum business in Indian domestic market, 16 were non Indian firms.
They included HP (Rs 12,672 crore), Ingram Micro (Rs 8,620 crore),
Cisco Systems (Rs 5,370 crore), IBM (Rs 4,275 crore), Intel (Rs 3,879
crore), Dell (Rs 3,200 crore), Lenovo (Rs 3,014 crore), Microsoft (Rs
2,937 crore), SAP (Rs 2,575 crore), APC (Rs 2,410 crore), Samsung (Rs
1,804 crore), Acer (Rs 1,749 crore), Oracle (Rs 1,504 crore), Sun
Microsystems (Rs 1,456 crore), eSys (Rs 1,342 crore), Seagate (Rs
1,143 crore).


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