Hyderabad: Deloitte announced the 50 fastest growing technology companies in the country as part of its Technology Fast50 India 2017 programme. Overall average three-year growth rate of this year’s Tech Fast50 India winners aggregated to just over 209 per cent (compared to 340 per cent in 2016 and 356 per cent in 2015).
The Deloitte Tech Fast50 India Program conducted by Deloitte Touche Tohmatsu India LLP (DTTILLP) ranks the fastest growing technology companies in India based on their percentage revenue growth over the last three financial years.
Noida-based Polestar Solutions and Services India was ranked No.1 with FY17 revenue coming in at more than 9x their FY15 revenue. The company was No.3 in the 2016 edition. Last year’s winner GreycampusEdutech continued its growth and was ranked 13th this year. The second ranked company this year, Evolute Systems, saw their FY17 revenue jump more than 8x over their FY15 revenue, whilst the third placed Mobisy Technologies grew their FY17 revenue at more than 7x their FY15 revenue.
“Over the 13 years of Technology Fast50 India, we have seen the composition of our winners shift from generic software services provider to diverse activities, both product oriented and niche services, inclusive of highly capable analytics offerings, digital marketing, technology enabled education products & services, etc.,” said Rajiv Sundar, partner, Deloitte India.
“Whilst the overall technology sectors are witnessing global changes and disruptions, both on the technology developments and also regulatory impacts, we continue to be positive about capabilities and eminence of technology businesses in India. Our winners of this year with their diverse offerings is a testament to that belief.”
This year, the top 10 companies recorded an average three-year growth rate of just over 500 per cent. And seven winners in top 10 are repeat winners, with four of them having improved on their rankings from previous years. While the top three recorded an average three-year growth rate of 727 per cent, the top five record just over 658 percent. Three year average growth rate across Top 50 winners was just over 209 percent.
The Analytics segment has strong representation in Top 50 led by this year’s winner – Polestar Solutions. Other winners that offer niche analytics services include Bridgei2i, Tiger Analytics and LatentView.
With the rapid increase in digital transactions cyber security and information safety have become immensely important. Some of the Top 50 winners such as Data Resolve and Aujas Networks have been able ride this trend and grow at a fast pace.