IT (Information Technology) is one of the most booming sectors in the whole world. For two decades it has become a top contributor to the economy, in India the IT sector contributed 7.5% to GDP in the year 2023, and estimated revenue of US$ 245 billion in the year 2023. 

Top IT companies in India are thriving, with innovations happening from AI machine learning to service-oriented solutions. These companies are one of the largest employers in India and also form one of the largest IT hubs in the world. 

In this article, we will discuss the Top 10 IT companies in India, based on the latest available information, from market cap to employee count and accessing their future growth prospects.

Top IT Companies in India in 2024 by Market Capitalisation

Tata Consultancy Services (TCS)

Tata Consultancy Services, known as TCS, initially started with the name Tata Computer Systems, founded in 1968 by the Tata Sons group (holding company of Tata group), F.C. Kohli was co-founder and first CEO of TCS, and his contribution to IT gained him the nickname “Father of the Indian IT Industry”. K. Krithivasan is the current CEO, succeeding Rajesh Gopinathan, the former CEO, who resigned unexpectedly in September 2023.

TCS is the largest IT service company in India, headquartered in Mumbai, and also the largest employer with an employee count of 616,000 worldwide, having the largest market cap in the IT sector of 1,401,392.50 Cr INR. 

Their main focus of business is providing IT services, Encompassing networking, managed services, development, and outsourced IT with TCS Business Process Services. Particularly Business Process Services (BPS), are among its most profitable areas.

Recently in the news, TCS was named one of the World’s Most Admired Companies by FORTUNE® Magazine for the second year in a row. The BrandFinanceTM Global 500 brand survey for 2024 found that TCS’s brand is worth $19.2 billion, which is up 11.5% from the previous year.

Infosys

Infosys is well-known and one of the Top 10 IT companies in India, began in 1981 by seven engineers from Pune: Dinesh Krishnan Swamy, Senapathy Gopalakrishnan, Narayana Ramarao Nagavara Murthy, Nandan M. Nilekani, Raghavan N. S., Ashok Arora, and S. D.Shibulal. In 2024 CEO Salil Parekh. 

At present, it is now based in Bangalore and has shown big expansion. The company’s accomplishments are marked by a historical event when they made India’s biggest international equity offer ever with a value of $1 billion and also created the Infosys Foundation to help less fortunate groups (Infosys Limited, 2022).

Infosys’ core business lies in Information Technology (IT) Services and IT consulting, driving significant revenue and growth. With a robust global footprint, Infosys delivers wide-ranging services across finance, manufacturing, and other industries through its unique offerings like Finacle, NIA, and strategic acquisitions, solidifying its position as a top-rated IT services brand worldwide.

Infosys in 2024, debuted itself as an AI-first company, with the CEO, Salil Parekh, emphasizing the importance of AI in the company’s operations and growth. Infosys has been focusing on AI-driven projects and software services that help clients cut costs, and the company has trained 100,000 employees on generative AI and large language models

As of the latest information, Infosys has 343,234 total employees, making it one of the largest recruiters in India. Currently, their market cap is standing at 586,994.92 Crore Inr.

HCL Technologies

HCL Technologies is a multinational IT services company based in Noida, India. Founded in 1976 by Shiv Nadar and other employees of Delhi Cloth & General Mills, HCL initially started as a computer hardware company but eventually ventured into software services. In 1978 they created their own microcomputer and then in 1983 company created its own operating system which had client-server architecture, then to truly focus on providing software services HCL Technologies was created.

It now provides a wide range of IT solutions like infrastructure management, consulting, engineering, R&D, and BPO to diverse industries globally with a presence in 32 countries, with an employee headcount of 224,756. In 2024, the current CEO is C Vijayakumar, company’s current market cap is standing at 400,618.38 Crore INR.

Notable for innovative employee engagement initiatives like “Workers First ” and the adoption of 100 villages under Project Samudhay, HCL is committed to community development. Its unique HCL Tech Bee program offers full-time IT jobs and training to Class 12 students, providing early career opportunities.

With partnerships across major tech firms and recognition for empowerment programs, HCL Technologies has emerged as a leading global IT enterprise offering cutting-edge services and nurturing young talent through its innovative initiatives.

Wipro

Wipro, founded by M.H. Hasham Premji, is an IT consulting and system integration services company from India, started in 1945 as a maker of vegetable oil. It later shifted to provide IT services. Now it is among the biggest public companies with more than 1.5 lakh workers worldwide who serve customers from around 60 and the current market cap stands at 234,400.77 Crore INR.

Wipro has a history of popular acquisitions all over the world, recently in 2024, February it acquired US Insurtech firm Aggne Global Inc for $66 million.

Wipro is also known for its diversity in fields such as software services and BPOs but they have expanded to other areas like consumer care, cloud computing, computer security, digital transformation, artificial intelligence, robotics, and data analytics. With current CEO is Srinivas Pallia, and most of the stock is held by TARIQ AZIM PREMJI, who serves as Chairman of the company.

LTIMindtree

LTIMindtree is an IT MNC, with CEO and Managing Director being Debashis Chatterjee, and was founded in 1996 as L&T Information Technology Ltd under the subsidiary of Larsen & Toubro, soon established as a leading Information Technology firm that provides IT and consulting services, with headquarter based in Mumbai, operating its main business to transform the firm into digital firm by providing IT services.

Being one of the largest IT firms employing over 82 thousand workers and with a current equity market cap of 138,100.98 Crore INR.

LTIMindtree also won the 2024 Google Partner of the Year award for Industry Solution Services for Manufacturing. This award from Google recognizes LTIMindtree as the best partner company providing exceptional technology solutions for the manufacturing industry.

Tech Mahindra 

Tech Mahindra was founded by Anand Mahindra,and its initial joint venture with British Telecom, as an Technology outsourcing firm in 1986. Later renamed Tech Mahindra and came under the Mahindra Group conglomerate. With current CEO Mohit Joshi. 

Their main area of business is providing IT services, networking solutions, and business support services (BPO) to the telecom industry. 

In 2024, Tech Mahindra focused on AI, generative AI, and NXT.NOW. By appointment of Chief People Officer, Richard Lobo to bring AI integration, diversity and inclusion, and talent management to drive innovation through advanced technologies and a skilled workforce.

Tech Mahindra is one of the top 10 IT companies in India, having the 6th largest market cap of 116,952.18 Crore INR and having 146,250 employees.

Oracle Financial Services 

Oracle Financial Services Software Ltd was founded in 1989 as a subsidiary of Oracle Global (Mauritius) Limited. Their main area of focus is to provide financial software, custom application development, consulting, IT infrastructure management, and outsourced business processing services to the financial services industry.

With a market cap of 68,037.41 Crore INR and number of employees standing at 8,818. The company earns income primarily from two streams, The products division that formerly was called BPD – Banking Products Division and PrimeSourcing.

Persistent System

Persistent Systems, started in 1986 by Anand Deshpande, is a technology services company from India, based in Pune,  that has grown into an international business, with the current CEO being Sandeep Kalra. The company primarily focuses on key areas of cloud computing, the Internet of Things (IoT), and AI (Artificial Intelligence). 

Garnering a large workforce of over 23,000 industry and tech experts across 15 countries. Persistent System became the most prominent IT company, having 23,000+ employees, and witnessing huge growth in the last five years, with a current market cap standing at 59,301.48 Crore INR and operating income of ₹1,724 crore in the financial year 2024.

Mphasis

Mphasis Limited, an IT company from India that provides information technology services and consulting worldwide, has its headquarters in Bangalore, Karnataka. The founders are Jerry Rao and Jeroen Tas. Originally set up Mphasis Corporation in Santa Monica which is located within the state of California belonging to the USA back during 1998. 

In India, it was established as a corporation on the date of June 17th in the year 2000 following the merger between MphasiS Corporation with BFL Software Limited, an Indian IT Services Company founded by Mr. Ravi Mallikarjuniah (Chairman), Dr. Ganesh Natarajan (Managing Director) & Mr.Vijay Reddy(Executive Vice President) way back during 1992.

Mphasis generally deals in banking, capital markets, insurance, healthcare, life sciences, manufacturing, retail and logistics. Besides these business areas, it also focuses on infrastructure technology outsourcing services as well as applications. Additionally, it offers architecture guidance along with application development or integration plus management services for applications.

Currently with a market cap of 43,656.82 Crore INR, and 33,771 total numbers of employees as of 2024.

KPIT Technologies

KPIT Technologies was founded in 1990 by Ravi Pandit and Kishor Patil and stands as one of the top 10 IT companies in India, headquartered in Pune, which specializes in engineering research and development services for the automotive industry. 

The company’s main areas of business include autonomous driving, electric and conventional powertrain, connected vehicles, vehicle diagnostics, and vehicle engineering and design. As of April 2024, KPIT Technologies employs 12,727 globally. For FY24, the company reported revenue of 3,405 crores INR, having a market cap of 38,628.23 Crore INR.

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