Mahindra among top five IT companies: Nasscom
New Delhi: As an aftermath of the
multi-billion dollar fraud at Satyam Computer early this year,
the Hyderabad-based firm is now officially out of the league
of the country's largest software companies, but its new
parent Tech Mahindra is now among the top five IT firms.
Besides, rival HCL Tech has now moved up one place to
grab the country's fourth largest IT firm's position, occupied
by Satyam Computer till last year, according to the latest
rankings by industry association Nasscom.
Tech Mahindra, previously ranked sixth, has also moved up
one place because of Satyam's exit, while TCS, Infosys and
Wipro have retained their top three positions in the list of
the country's largest software exporters in terms of their
Satyam Computer, which has been rebranded to Mahindra
Satyam due to its acquisition by Mahindra group's IT arm, has
not been included in the ranking at all, as it is yet to
release its full-year audited results for the latest financial
"The ranking is based on companies that have submitted
the detailed form. It does not include Mahindra Satyam whose
revised audited revenues are not available," Nasscom said.
Satyam Computer plunged into a crisis after the
revelation of an overstatement of numbers by its former
chairman and founder B Ramalinga Raju.
This list by Nasscom also does not include some companies
whose corporate headquarters are located outside India, but
have significant India-centric delivery capabilities, and have
not shared their India-centric revenue figures.
Had they been ranked based on their India revenues,
companies such as Accenture, Cognizant, HP and IBM and would
have also appeared in this ranking.