The Indian IT industry is a dynamic and vibrant sector, a testament to the country’s capacity for innovation and technological advancement. With its roots tracing back to the late 20th century, the industry has grown exponentially, transforming India into a global IT powerhouse. Today, India is recognised worldwide for its technological prowess and is home to some of the world’s leading IT companies.
list of the top 10 IT companies in India by market capitalization as of 2024, including their market cap, year of establishment, headquarters, and a brief detail:
| Rank | Company | Market Capitalization (₹ trillion) | Year of Establishment | Headquarters |
| 1 | Tata Consultancy Services (TCS) | 14.78 | 1968 | Mumbai, Maharashtra |
| 2 | Infosys | 7.77 | 1981 | Bengaluru, Karnataka |
| 3 | HCL Technologies | 4.87 | 1976 | Noida, Uttar Pradesh |
| 4 | Wipro Limited | 2.82 | 1945 | Bengaluru, Karnataka |
| 5 | LTIMindtree Ltd | 1.85 | 1996 | Bengaluru, Karnataka |
| 6 | Tech Mahindra Ltd | 1.53 | 1986 | Pune, Maharashtra |
| 7 | Oracle Financial Services Software | 0.98 | 1989 | Mumbai, Maharashtra |
| 8 | Persistent Systems Ltd | 0.85 | 1990 | Pune, Maharashtra |
| 9 | MphasiS Ltd | 0.56 | 2000 | Bengaluru, Karnataka |
| 10 | Coforge Ltd | 0.46 | 1992 | Noida, Uttar Pradesh |
Tata Consultancy Services (TCS)
Tata Consultancy Services (TCS) is an Indian multinational technology company that specializes in information technology services, consulting, and business solutions. Here are some key details about TCS:
Overview
- Founded: 1968 by J. R. D. Tata
- Headquarters: Mumbai, Maharashtra, India
- Parent Company: Tata Group
- Global Presence: Operates in 150 locations across 46 countries
Key Achievements
- Market Leadership: TCS is the largest IT company in India and has a significant global presence1.
- Innovation: TCS is known for its pioneering innovations and contributions to the IT industry.
- Financial Performance: In 2024, TCS reported a revenue of ₹248,315 crore (approximately $30 billion) and a net income of ₹46,099 crore (approximately $5.5 billion).
- Employee Strength: TCS employs over 612,724 people as of September 2024.
Services and Solutions
- IT Services: TCS provides a wide range of IT services, including application development, maintenance, and infrastructure management.
- Consulting: TCS offers business consulting services to help clients transform their operations and achieve their business goals.
- Business Solutions: TCS develops customized solutions to address specific business challenges and improve efficiency.
Recent Developments
- Partnerships and Investments: TCS has been actively involved in partnerships and investments to drive innovation and growth. For example, TCS recently partnered with Insper in Brazil to accelerate innovation across South America2.
- Sustainability Initiatives: TCS has launched various initiatives to promote sustainability and social responsibility, such as the TCS Sustainathon, which challenges youth to ideate and invent clean, affordable energy solutions.
Infosys
Infosys is a global leader in digital services and consulting, specializing in business consulting, information technology, and outsourcing services. Here are some key details about Infosys:
Overview
- Founded: 2 July 1981 by N. R. Narayana Murthy and six other engineers in Pune, India
- Headquarters: Bangalore, Karnataka, India
- Parent Company: N/A
- Global Presence: Operates in over 46 countries with more than 150 locations
Key Achievements
- Market Leadership: Infosys is a global leader in digital transformation and innovation.
- Financial Performance: In 2024, Infosys reported a revenue of ₹158,381 crore (approximately $19 billion) and a net income of ₹26,248 crore (approximately $3.1 billion).
- Employee Strength: Infosys employs over 317,240 people as of March 2024.
Services and Solutions
- IT Services: Infosys provides a wide range of IT services, including application development, maintenance, and infrastructure management.
- Consulting: Infosys offers business consulting services to help clients transform their operations and achieve their business goals.
- Digital Transformation: Infosys focuses on digital transformation, helping clients build digital-first enterprises.
Recent Developments
- Partnerships and Investments: Infosys has been actively involved in partnerships and investments to drive innovation and growth.
- Sustainability Initiatives: Infosys has launched various initiatives to promote sustainability and social responsibility.
HCL Technologies
HCL Technologies is a global technology company that provides a wide range of IT services, including software development, IT consulting, and business process outsourcing. Here are some key details about HCL Technologies:
Overview
- Founded: 11 August 1976 by Shiv Nadar
- Headquarters: Noida, Uttar Pradesh, India
- Parent Company: HCL Group
- Global Presence: Operates in 59 countries with over 220,000 employees
Key Achievements
- Market Leadership: HCL Technologies is known for its strong client relationships and innovative solutions.
- Financial Performance: In 2024, HCL Technologies reported a revenue of ₹1,111,408 crore (approximately $13 billion) and a net income of ₹2,065,665 crore (approximately $2.5 billion).
- Employee Strength: HCL Technologies employs over 220,000 people as of 2024.
Services and Solutions
- IT Services: HCL Technologies provides a wide range of IT services, including application development, maintenance, and infrastructure management.
- Consulting: HCL Technologies offers business consulting services to help clients transform their operations and achieve their business goals.
- Engineering and R&D Services: HCL Technologies focuses on engineering and research and development services to drive innovation and growth.
- Cloud Solutions: HCL Technologies offers cloud-based solutions to help clients modernize their IT infrastructure.
Recent Developments
- Partnerships and Investments: HCL Technologies has been actively involved in partnerships and investments to drive innovation and growth.
- Sustainability Initiatives: HCL Technologies has launched various initiatives to promote sustainability and social responsibility.
Wipro Limited
Wipro Limited is a global leader in technology services and consulting, dedicated to helping businesses innovate and transform. Here are some key details about Wipro:
Overview
- Founded: 29 December 1945 by M. H. Hasham Premji as Western India Vegetable Products Limited
- Headquarters: Sarjapur Road, Bangalore, Karnataka, India
- Parent Company: Wipro Enterprises Private Limited
- Global Presence: Operates in 167 countries with over 234,054 employees as of March 2024
Key Achievements
- Market Leadership: Wipro is known for its innovative solutions and strong client relationships2.
- Financial Performance: In 2024, Wipro reported a revenue of ₹989,760 crore (approximately $11 billion) and a net income of ₹911,112 crore (approximately $1.3 billion).
- Employee Strength: Wipro employs over 234,054 people as of March 2024.
Services and Solutions
- IT Services: Wipro provides a wide range of IT services, including application development, maintenance, and infrastructure management.
- Consulting: Wipro offers business consulting services to help clients transform their operations and achieve their business goals.
- Digital Transformation: Wipro focuses on digital transformation, helping clients build digital-first enterprises.
- Cloud Solutions: Wipro offers cloud-based solutions to help clients modernize their IT infrastructure.
Recent Developments
- Partnerships and Investments: Wipro has been actively involved in partnerships and investments to drive innovation and growth.
- Sustainability Initiatives: Wipro has launched various initiatives to promote sustainability and social responsibility.
LTIMindtree
LTIMindtree is a leading technology consulting and digital solutions company. Here are some key details about LTIMindtree:
Overview
- Founded: 23 December 1996
- Headquarters: Mumbai, Maharashtra, India
- Parent Company: Larsen & Toubro (68.73%)
- Global Presence: Operates in multiple countries with over 81,650 employees as of March 2024
Key Achievements
- Market Leadership: LTIMindtree is known for its strong client relationships and innovative solutions.
- Financial Performance: In 2024, LTIMindtree reported a revenue of ₹35,517 crore (approximately $4.3 billion) and a net income of ₹6,048 crore (approximately $720 million).
- Employee Strength: LTIMindtree employs over 81,650 people as of March 2024.
Services and Solutions
- IT Services: LTIMindtree provides a wide range of IT services, including application development, maintenance, and infrastructure management.
- Consulting: LTIMindtree offers business consulting services to help clients transform their operations and achieve their business goals.
- Digital Transformation: LTIMindtree focuses on digital transformation, helping clients build digital-first enterprises.
- Cloud Solutions: LTIMindtree offers cloud-based solutions to help clients modernize their IT infrastructure.
Recent Developments
- Partnerships and Investments: LTIMindtree has been actively involved in partnerships and investments to drive innovation and growth.
- Sustainability Initiatives: LTIMindtree has launched various initiatives to promote sustainability and social responsibility.
Tech Mahindra
Tech Mahindra is a global leader in digital transformation, IT services, and business consulting. Here are some key details about Tech Mahindra:
Overview
- Founded: 24 October 1986 as Mahindra British Telecom (MBT), a joint venture between Mahindra & Mahindra and British Telecom
- Headquarters: Pune, Maharashtra, India
- Parent Company: Mahindra Group
- Global Presence: Operates in over 90 countries with more than 138,510 employees as of March 2024
Key Achievements
- Market Leadership: Tech Mahindra is known for its strong client relationships and innovative solutions.
- Financial Performance: In 2024, Tech Mahindra reported a revenue of ₹52,912 crore (approximately $6.3 billion) and a net income of ₹23,224 crore (approximately $390 million).
- Employee Strength: Tech Mahindra employs over 138,510 people as of March 2024.
Services and Solutions
- IT Services: Tech Mahindra provides a wide range of IT services, including application development, maintenance, and infrastructure management.
- Consulting: Tech Mahindra offers business consulting services to help clients transform their operations and achieve their business goals.
- Digital Transformation: Tech Mahindra focuses on digital transformation, helping clients build digital-first enterprises.
- Cloud Solutions: Tech Mahindra offers cloud-based solutions to help clients modernize their IT infrastructure.
Recent Developments
- Partnerships and Investments: Tech Mahindra has been actively involved in partnerships and investments to drive innovation and growth.
- Sustainability Initiatives: Tech Mahindra has launched various initiatives to promote sustainability and social responsibility.
Oracle Financial Services Software
Oracle Financial Services Software Limited (OFSS) is an Indian subsidiary of Oracle Corporation, specializing in financial and insurance technology. Here are some key details about Oracle Financial Services Software:
Overview
- Founded: 1990 (originally known as i-flex Solutions until 2008)
- Headquarters: Mumbai, Maharashtra, India
- Parent Company: Oracle Corporation
- Key People: Sridhar Srinivasan (Chairperson), Makarand Padalkar (CEO and MD)
- Global Presence: Operates in multiple countries with a focus on financial and insurance technology
Key Achievements
- Market Leadership: OFSS is a leading provider of financial and insurance technology solutions.
- Financial Performance: In 2024, OFSS reported a revenue of ₹6,373 crore (approximately $760 million) and a net income of ₹2,219 crore (approximately $270 million).
- Employee Strength: OFSS employs over 8,754 people as of March 2024.
Services and Solutions
- Retail Banking: Solutions for customer management, product management, and channel management.
- Corporate Banking: Solutions for cash management, trade finance, and corporate lending.
- Insurance: Solutions for policy administration, claims management, and risk management.
- Compliance and Risk Management: Solutions for anti-money laundering (AML), know your customer (KYC), and regulatory compliance1.
- Cloud Services: OFSS offers cloud-based solutions to help financial institutions modernize their IT infrastructure and improve operational efficiency.
Recent Developments
- Partnerships and Investments: OFSS has been actively involved in partnerships and investments to drive innovation and growth.
- Sustainability Initiatives: OFSS has launched various initiatives to promote sustainability and social responsibility.
Persistent Systems
Persistent Systems is a global technology services company that specializes in digital engineering and enterprise modernization. Here are some key details about Persistent Systems:
Overview
- Founded: 1990 by Anand Deshpande
- Headquarters: Pune, Maharashtra, India
- Parent Company: N/A
- Global Presence: Operates in multiple countries with over 23,000 employees as of FY24
Key Achievements
- Market Leadership: Persistent Systems is known for its strong client relationships and innovative solutions.
- Financial Performance: In FY24, Persistent Systems reported a revenue of ₹9,821 crore (approximately $1.2 billion) and a net income of ₹1,093 crore (approximately $130 million).
- Employee Strength: Persistent Systems employs over 23,000 people as of FY24.
Services and Solutions
- Digital Engineering: Persistent Systems provides digital engineering services to help clients build and modernize their digital infrastructure.
- Enterprise Modernization: Persistent Systems offers solutions for enterprise modernization, including application development, cloud services, and data privacy management.
- AI and Automation: Persistent Systems focuses on AI-driven software development and intelligent automation to help clients achieve business acceleration.
- Cloud Solutions: Persistent Systems offers cloud-based solutions to help clients modernize their IT infrastructure and improve operational efficiency.
Recent Developments
- Acquisitions: Persistent Systems has been actively involved in acquisitions to drive innovation and growth. In 2024, Persistent Systems acquired Arrka, a Pune-based data privacy management firm, and Starfish Associates, a developer of an enterprise communications automation platform2.
- Awards and Recognitions: Persistent Systems has received several awards and recognitions, including being named a Challenger in the 2024 Gartner Magic Quadrant for Public Cloud IT Transformation Services and the Most Promising Company of the Year at CNBC TV18’s India Business Leader Awards.
MphasiS
MphasiS is a global information technology services company that specializes in cloud and cognitive services, digital transformation, and enterprise modernization. Here are some key details about MphasiS:
Overview
- Founded: 1992 by Jerry Rao and Jeroen Tas
- Headquarters: Bangalore, Karnataka, India
- Parent Company: Blackstone Group (39.85% ownership)
- Global Presence: Operates in multiple countries with over 33,771 employees as of September 2023
Key Achievements
- Market Leadership: MphasiS is known for its strong client relationships and innovative solutions.
- Financial Performance: In FY23, MphasiS reported a revenue of ₹13,960 crore (approximately $1.7 billion) and a net income of ₹2,173 crore (approximately $260 million).
- Employee Strength: MphasiS employs over 33,771 people as of September 2023.
Services and Solutions
- Cloud and Cognitive Services: MphasiS provides cloud-based solutions and cognitive services to help clients modernize their IT infrastructure and improve operational efficiency.
- Digital Transformation: MphasiS focuses on digital transformation, helping clients build digital-first enterprises.
- Enterprise Modernization: MphasiS offers solutions for enterprise modernization, including application development, integration, and management.
- Industry Focus: MphasiS serves industries such as financial services, telecom, logistics, and technology.
Recent Developments
- Acquisitions: MphasiS has been actively involved in acquisitions to drive innovation and growth. In 2021, MphasiS acquired eBECS, a leading Microsoft Dynamics partner in the UK and Ireland, and Blink UX, a user experience research and design firm4.
- Sustainability Initiatives: MphasiS has launched various initiatives to promote sustainability and social responsibility.
Coforge
Coforge is a global digital services and solutions provider that leverages emerging technologies and deep domain expertise to deliver real-world business impact for its clients. Here are some key details about Coforge:
Overview
- Founded: 13 May 1992 (originally known as NIIT Technologies)
- Headquarters: Noida, Uttar Pradesh, India
- Parent Company: N/A
- Global Presence: Operates in multiple countries with over 24,607 employees as of December 2023
Key Achievements
- Market Leadership: Coforge is known for its strong client relationships and innovative solutions.
- Financial Performance: In FY23, Coforge reported a revenue of ₹8,014 crore (approximately $960 million) and a net income of ₹811 crore (approximately $97 million).
- Employee Strength: Coforge employs over 24,607 people as of December 2023.
Services and Solutions
- Digital Supply Chain: Solutions to optimize supply chain operations using digital technologies.
- Artificial Intelligence: AI-driven solutions for various business challenges.
- Cloud Infrastructure: Cloud-based solutions to modernize IT infrastructure.
- Data Management: Services to manage and analyze data effectively.
- Enterprise Applications: Development and management of enterprise applications.
Recent Developments
- Acquisitions: Coforge acquired a 54% stake in Cigniti Technologies in May 2024, aiming to become a $2-billion revenue enterprise.
- Sustainability Initiatives: Coforge collaborates with Salesforce to launch innovative sustainability solutions.
- Recognition: Coforge has been recognized as a Leader in Wealth & Asset Management Services by NelsonHall NEAT Assessment 2024 and certified as a Great Place To Work for the fourth consecutive year.
