The top five software and service players have maintained their positions in the annual list of top 20 software and service exporters for 2004-05 brought out by the National Association of Software and Services Companies.
Tata Consultancy Services is sitting pretty on the top of the heap with revenues of Rs 7,449 crore (Rs 74.49 billion), followed by Infosys at Rs 6,806 crore (Rs 68.06 billion) and Wipro with Rs 5,426 crore (Rs 54.26 billion).
Satyam and HCL Technologies are next in the line with revenues of Rs 3,377 crore (Rs 33.77 billion) and Rs 2,664 crore (Rs 26.64 billion), respectively.
Nasscom does not take into account the revenues of the these companies from business process outsourcing and IT-enabled services business.
The new entrant in the list, IBM Global Services India Pvt Ltd, has made a debut at number six on the list with revenues of Rs 1,867 crore Rs 18.67 billion). IBM reported revenues of its software and services export business in India for the first time and these were included in the rankings.
As BirlaSoft did not report its revenues it does not find mention in the list.
The list does not include companies -- such as Cognizant -- which are US listed firms but have significant offshore operations in India. In 2004-05, Cognizant recorded global revenues of Rs 2,906 crore (Rs 29.06 billion), which would have placed them 5th on this list were they to be ranked.
In addition, Syntel, Covansys, Intelligroup -- all with an India-centric global delivery model -- are also excluded from this list.
"With offshore adoption amongst the Fortune 500 companies increasing rapidly, from 300 in 2003 to 400 companies in 2004, we are optimistic about the long term potential of this industry. This recent momentum complemented by low penetration levels, will continue to drive rapid offshore adoption," Nasscom president Kiran Karnik said on rankings.
He said: "Despite a larger base, the Indian software and services industry has been able to maintain its growth momentum and delivered better-than-expected results. Software exports, the mainstay of the industry, grossed $12 billion in 2004-05, up from $9.2 billion in 2003-04, indicating growth of 30.4 per cent for the year."
Clients of Indian IT companies have continued to ramp up engagement sizes with leading vendors. The top four players alone have over 660 clients -- with billing rates of more than $1 million per annum -- up from 441 in 2003-04.
Indian software and services employee base has grown at a compound annual growth rate of 23.6 per cent, from 242,000 in 2001-02 to 697,000 in 2003-04.
Revenue from product development and research and development services in 2004-05, was around $3 billion, up from $2.3 billion in 2003-04.