Deloitte study finds Indian IT players spreading to smaller towns
Bangalore, October 22, 2011:The Information Technology idustry is moving albeit slowly, from the metros to smaller cities—this is apparent from the “Deloitte Tech Fast 50 India 2011” -- a ranking of the 50 fastest-growing Indian companies in the Technology, Media & Telecom (TMT) space today, Deloitte says that 14 percent of the Technology Fast 50 winners this year are from Tier 2 cities such as Rudrapur, Belgaum and Madurai. Also, Mobile VAS as a sub-segment is gaining significant strength and can be classified as a segment in its own right.
The Deloitte Tech Fast 50 India Programme has conducted by Deloitte Touche Tohmatsu India Private Limited (DTTIPL), for the seventh year now and , ranks the fastest growing technology companies in India based on their percentage revenue growth over the last three financial years. This year,Ubona Technologies Private Limited tops the ranking with revenue growth of 1353per cent. With its state of the art platform, Ubona has been instrumental in enabling the Telcos, VAS providers and other businesses to offer next generation telephony services to the masses.
In second place with a growth of 1010 percent is Aujas Networks Pvt. Limited, a company providing consultancy services in Information Risk Management. The third place is secured by Prizm Payment services Pvt Ltd with a revenue growth of 792 percent. The company offers rapid deployment of cross channel payment points all over the country ranging from ATM to POS devices.
“The top three companies this year have shown an average growth of 1052 per cent which is a very impressive achievement. This growth has been achieved riding on continuous investment thatthe technology companies have made in innovation and significant domestic consumption of technology,” says P.N Sudarshan, Senior Director,Deloitte Touche Tohmatsu India Private Limited. “This year has been a year of shifting trends where new winners with new business paradigms have emerged while many repeat winners have shown that along with new revolutionary ideas, continuous innovation and sustained improvement in delivery are essential ingredients of a success story in today’s competitive environment.”
The 50 fastest growing companies this year have achieved an average revenue growth of 236 per cent. However, the average growth rate across the entire range of the list has declined. The decline has been uniform across the winners list. The uniform decline in growth could be attributed to the cautious bottom-line focused approach of the companies or a result of negative macro indicators.
There has been an increasing presence of the smaller sized companies in the winners list. The number of companies with less than Rs. 500 million turnover have steadily moved from 38 per cent in 2008 to 62 per cent currently. This could be an indicator of the agility of smaller firms to try out disruptive innovations as also venture into untapped markets which are less competitive and a growing sign of a greater entrepreneurial spirit. This could be also be an indicator of the maturity of the business life cycle of the large corporations