Top 200 Indian IT cos clock 25% revenue growth in FY11

The top 200 IT companies in India logged a combined revenue of $84 billion (Rs 3,84,250 crore) to achieve an average growth rate of 25% in 2010-11, the highest in the past four years, according to a survey.

The revenues of these companies stood at Rs 3,07,126 crore in 2009-10 and Rs 2,89,093 crore in 2008-09.

The combined revenue of the top 20 IT companies was $54 billion (Rs 2,47,808 crore) in 2010-11, also representing a growth of 25%. This is significantly higher than the 8% growth recorded in 2009-10 on the back of revenues of Rs 1,98,017 crore.

The 2010-11 growth surpasses the 24% growth witnessed in 2007-08, the year before the slowdown, according to the annual research findings on the Indian IT industry by Dataquest, the flagship journal of specialty publishers CyberMedia.

Each of the top 20 IT companies earned over $1 billion in 2010-11, together posting revenues of $54 billion (Rs 2,47,808 crore), contributing 64% to the top 200 companies' revenue.

According to the findings, the top five Indian IT companies in 2010-11 were TCS, Infosys, Wipro, HP and Cognizant, with revenues of Rs 33,112 crore (25% growth over last year), Rs 25,997 crore (22%), Rs 24,899 crore (13%), Rs 23,227 crore (30%) and Rs 21,393 crore (37%), respectively.

Wipro, which recorded the slowest growth in the top five, surrendered the number two slot to Infosys after six years, the findings said.

The number six slot went to the Indian subsidiary of 100-year-old global tech behemoth IBM (revenues Rs 14,132 crore, year-on-year growth of 14%).