Tech Mahindra in top 5: Nasscom

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 revenue.

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 present financial year.

“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, firms such as Accenture, Cognizant, HP and IBM and would have also appeared in this ranking.