Edureka (Brain4ce Education Solutions) tops Deloitte Tech Fast 50 2014 rankings

Bangalore, 8^th November 2014: Bangalore companies continue to lead the way at the 10^th edition of the Deloitte Tech Fast 50 with 17 companies in Top 50. The NCR comes in second with 8 companies. The overall winner in this year’s ranking is Edureka (Brain4ce Education Solutions), realising a high 2768 percent three year revenue growth. The second, Happiest Minds Technologies Private Limited achieved 2377 percent, whilst the third placed, Zomato Media Private Limited, grew by 1399 percent.

The Deloitte Tech Fast 50 India Program conducted by Deloitte Touche Tohmatsu India Private Limited (DTTIPL) ranks the fastest growing technology companies in India based on their percentage revenue growth over the last three financial years. Overall average three year growth rate of Top 50 winners aggregated to 383 percent.

“Since the first edition of Deloitte Fast 50 India event was launched to this 10^th edition, we have seen a number of Technology businesses from India growing into multi-billion dollar corporations and becoming forces to be reckoned with in the global arena,” said Rajiv Sundar, Senior Director, (DTTIPL). “We see a strong contingent of mid-market specialized technology companies from India pushing their way towards the billion dollar revenue mark. Five 5 winners from this year have moved from a much smaller revenue bucket to the INR 1000 million club.”

This year’s top five achieved an average three-year growth rate of 1775 percent, lower than the 2013 comparable average of 4017 percent, which was skewed by an all time high performance by the winner of 2013. Announcing the 50 fastest-growing Indian companies for 2014 in the Technology, Media & Telecommunication (TMT) industry vertical, Deloitte says that in this year’s Technology Fast 50 (Tech Fast) rankings:

• Base ranking growth rate recorded of 119 percent
• Pune and Hyderabad had good representation at 6 Companies each, whilst Thiruvananthapuram and other Tier 2 Cities have emerged in competition to Mumbai and Chennai.

• Second consecutive time when top 5 winners have been over a 1000 percent growth mark
• Though Software Companies lead the rankings in a big way, Internet based business stamp their presence taking 3 spots amongst the top 5 this year

As predicted in Deloitte TMT Predictions 2014, internet/mobile focused advertisement solutions remains a high growth area and perhaps a segment where only niche and innovative companies will continue to make their mark. Education, mobility and enterprise products have emerged as major themes. Education is primarily backed by a strong domestic demand whereas the other two segments have seen equivalent growth arising out of domestic and overseas market.

Sectoral insights

As in previous years, broad based IT Services/BPM continues to dominate. Some other visible trends include:

• Web technology and mobility focused companies have given a boost to the pure services segment. Most of the companies in this segment are capitalising on the explosion of app development and allied services requirement.
• Telecom technology companies have made their presence felt after some hiatus. Whilst the number of winners in this segment remains relatively low, growth of telecom infrastructure companies bodes well for downstream engineering service providers.
• Education as a theme has marked its importance and we see five companies spread across industry segment sectors as winners. Most being focused on the training aspect suggest that despite a wide array of companies in this sub-segment, quality training through technology enablers remains an eminent need of the day.
• Strong and steadily growing representation of enterprise software products catering to a wide range of industries and functions such as manufacturing, education, mobility, telecom, enterprise productivity and enterprise communication..
• Companies using Internet as the primary delivery medium has lesser representation in this year’s winners list.

For details of the rankings and sectoral insights, please click here