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Tata Consultancy Services' Ranked Among Top 25 in BusinessWeek's 2007 Information Technology 100
Jun 25, 2007 (10:06 AM EDT)
MUMBAI, India, June 25 /PRNewswire/ -- Tata Consultancy Services (TCS), , a leading global IT services, business solutions and outsourcing firm, today announced that it has been ranked among the leading global IT companies in BusinessWeek's 2007 Information Technology 100 listing. TCS is ranked #23 in this annual listing of the world's leading IT companies. Additionally, TCS was the only Indian company ranked among the top 10 most profitable companies on the list with a return on equity of 46 percent.
S. Ramadorai, CEO and MD of Tata Consultancy Services, said, "TCS is focused on delivering the best results for our global customers. Customers choose to work with us because they can be certain we will deliver solutions globally that are an industry benchmark in terms of cost, quality and innovation. This recognition from BusinessWeek is testament that our dedication to customers is helping to fuel our global growth and success."
According to BusinessWeek, "ever since TCS went public in 2004, the Mumbai-based company has been on a tear. It's growing rapidly -- with revenues for the fiscal year ended in March up 41%, to $4.3 billion. But it's also expanding in other dimensions. Of all of the Indian tech-services outfits, it has the largest network of delivery centers outside of India. In Latin America alone it employs more than 5,000 people, most of them locals, and it just announced a new service delivery center in Mexico. But TCS isn't content scooping up low-end service contracts. It's focusing on innovation in software and business processes."
To compile the InfoTech100, BusinessWeek began with financial data from Standard & Poor's Compustat, also a division of The McGraw-Hill Companies that has computerized information on over 28,000 publicly traded corporations. BusinessWeek trimmed this universe to information-technology companies. This year, cable companies that expanded into telecom were added. To qualify, companies had to have revenues of at least $300 million. Companies whose stock price has dropped more than 75%, whose sales shrank, or where other developments raised questions about future performance, were eliminated from contention. BusinessWeek also dropped some phone companies whose monopoly or near-monopoly power in their countries gives them an unfair advantage over competitors. The remaining group of companies were ranked on four criteria: return on equity, revenue growth, and shareholder return (given equal weight), and total revenues (which was weighted).
The full report appears in BusinessWeek's July 2, 2007 issue, with expanded content on BusinessWeek.com at http://www.businessweek.com/it100/ .
Note: This TCS release and other news announcements are available as part of an RSS feed at http://www.tcs.com/RSSFeed.html .
About Tata Consultancy Services (TCS)
Tata Consultancy Services is an IT services, business solutions and outsourcing organization that delivers real results to global businesses, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT and IT-enabled services delivered through its unique Global Network Delivery Model, recognized as the benchmark of excellence in software development.
A part of the Tata Group, India's largest industrial conglomerate, TCS has over 89,000 of the world's best trained IT consultants in 47 countries. The company generated consolidated revenues of US $4.3 billion for fiscal year ended 31 March 2007 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at http://www.tcs.com .
CONTACT: India, Pradipta Bagchi, +9122 6750 999, firstname.lastname@example.org,or North America, Mike McCabe, +1-646-313-4594, , both ofTata Consultancy Services
Web site: http://www.tcs.com/