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Top 10 IT companies in India in 2023 by market capitalisation

Looking for the best companies in India's IT sector? This guide provides a detailed overview of India's top 10 IT companies

Published: Sep 25, 2023 08:25:08 AM IST
Updated: Feb 8, 2024 06:37:59 PM IST

Top 10 IT companies in India in 2023 by market capitalisation

The Indian IT industry is a dynamic and vibrant sector, a testament to the country's capacity for innovation and technological advancement. With its roots tracing back to the late 20th century, the industry has grown exponentially, transforming India into a global IT powerhouse. Today, India is recognised worldwide for its technological prowess and is home to some of the world's leading IT companies.

This article aims to spotlight India's top 10 IT companies: We rank them based on their market capitalisations derived from respective stocks trading on the NSE as of September 25, 2023.

Also Read: Top 10 companies in India by market valuation in 2023

Top 10 IT companies in India

Here’s a quick look at India’s top 10 IT powerhouses:

Name Market Cap (Rs Lakh Crore)
Employee Headcount (Approx)
Tata Consultancy Service 13.06
6,00,000
Infosys 6.12
3,36,294
HCL Technologies 3.43 2,25,944
Wipro Limited 2.16
2,40,000
LTIMindtree Ltd. 1.59
82,000
Tech Mahindra Ltd. 1.26
1,52,400
MphasiS Ltd. 0.468
29,473
Persistent 0.453
22,500
Oracle Fin Serv 0.358
8,001
Coforge Limited (New)
0.323
21,815

Top 10 IT companies in India: A closer look

Now that we know which ones rank the highest among India’s best IT companies let’s take a deeper insight into our current top 10 IT companies in India:

Also Read: Top 10 biggest companies in the world by market cap in 2023

Tata Consultancy Services

  • CEO: K Krithivasan
  • Headquarters: Mumbai, Maharashtra, India
  • Founded on: April 1, 1968
TCS, the largest IT company in India, is a worldwide frontrunner in providing IT services, consulting, and business solutions. Founded in 1968, it is one of the oldest IT companies in India. With its vast array of services, TCS has a significant presence in various sectors, including banking, retail, telecom, and healthcare.

TCS recently partnered with AIB Life, the newly-formed joint venture of Allied Irish Banks and Great-West Lifeco, to launch operations in Ireland and give AIB’s customers access to financial advice and other financial services through their phone with the AIM mobile banking app. This was done with its flagship insurance platform TCS BaNCS.

Also Read: The 10 largest banks in the world in 2023

Infosys

  • CEO: Salil Parekh
  • Headquarters: Bengaluru, Karnataka, India
  • Founded on: July 2, 1981
Infosys is a prestigious global company specialising in cutting-edge digital services and consulting. Established in 1981, Infosys has been instrumental in driving the IT revolution in India. With its strong focus on innovation and sustainability, Infosys provides business consulting, information technology, and outsourcing services.

In June 2023, Infosys allied with Danske Bank with the goal of accelerating digital transformation. The deal is worth $454 million for a period of 5 years to start with.

Also Read: Top 10 banks in India by market cap in 2023

HCL Technologies

  • CEO: C Vijayakumar
  • Headquarters: Noida, Uttar Pradesh, India
  • Founded on: November 12, 1991
HCL Technologies is a modern, international technology company that assists businesses in transforming their operations for the digital era. Founded in 1976, HCL offers an integrated portfolio of products, solutions, services, and IP through its Mode 1-2-3 strategy.

HCL Tech has recently launched a Global Delivery Centre in Rabat, Morocco, to lead transformation projects for clients in areas such as digitisation, cloud, AI, and software.

Also Read: Nifty 50 stocks list in 2023: Stock weightage, sectors and computation methodology

Wipro Limited

  • CEO: Thierry Delaporte
  • Headquarters: Bengaluru, Karnataka, India
  • Founded on: December 29, 1945
Wipro Limited is a top-tier international company specialising in information technology, consulting, and business process services. Founded in 1945, Wipro utilises cognitive computing, hyper-automation, robotics, cloud, analytics, and other innovative technologies to assist clients in adapting to the digital landscape.

Wipro has recently announced that Wipro FullStride Cloud has partnered with Pure Storage, an enterprise data storage solutions provider, to help clients speed up the sustainability journey.

Also Read: Top 10 FMCG companies in India by market cap

LTIMindtree Ltd

  • CEO: Debashis Chatterjee
  • Headquarters: Bengaluru, Karnataka, India
  • Founded on: December 23, 1996
LTIMindtree Ltd is a well-established and highly regarded global technology consulting and services provider. The company boasts a unique combination of scale and agility, which sets it apart from others in the industry.

LTIMindtree partnered with Schneider-Neureither & Partner (SNP) in June 2023 to launch “Fast Forward” for Bluefield integration. Fast Forward is a full lifecycle solution meant to speed up migration to the SAP S/4HANA platform for an enterprise with the least possible risk while also allowing them to retain ERP.

Also Read: Top 10 index funds in India by AUM

Tech Mahindra Ltd

  • CEO: C P Gurnani
  • Headquarters: Pune, Maharashtra, India
  • Founded on: October 24, 1986
Founded in 1986, Tech Mahindra is committed to delivering innovative and customer-centric IT solutions for the interconnected world. It is a subsidiary of the Mahindra Group.

In March 2023, Mohit Joshi was appointed Tech Mahindra's MD & CEO designate, and he is to succeed Gurnani when he retires on December 19, 2023. Notably, Joshi was previously the President at Infosys.

Also Read: Top 10 equity mutual funds in India to invest in 2024

Mphasis Ltd

  • CEO: Nitin Rakesh
  • Headquarters: Bengaluru, Karnataka, India
  • Founded on: June 6, 2000
Mphasis, established in 1998, applies next-generation technology to help enterprises transform businesses globally. It is uniquely positioned to drive digital transformation in enterprises through its seamless service delivery, business process expertise, and integrated portfolio of services.

While Mphasis notably underperformed in the last quarter of 2022 and is still going through somewhat tumultuous conditions, BlackStone’s investment in the enterprise continues to be a strong backbone for the company, along with the co-investment from the Abu Dhabi Investment Authority and The Regents of the University of California.

Persistent

  • CEO: Sandeep Kalra
  • Headquarters: Pune, Maharashtra, India
  • Founded on: May 16, 1990
Persistent Systems is a worldwide company that provides solutions for accelerating digital business and modernising enterprises. The company was founded in 1990 and is recognised for its extensive knowledge of technology.

Persistent got Sandeep Kalra as a professional CEO in the middle of the Covid-19 crisis in 2020, after founder Anand Deshpande didn’t see a successful journey for the firm with Christopher O’Connor, an IBM executive. After inheriting the CEO title, however, Kalra steered the company to entirely new heights. For instance, his goal was to get $1 billion in annual revenues in six to eight quarters, as stated in the third quarter of FY 2022. The company reached this goal by the March quarter of FY 2023, in just five quarters.

Notably, Kalra is an HCL Tech veteran, and he has also worked for Samsung in the past.

Oracle Fin Serv

  • CEO: Chaitanya M. Kamat
  • Headquarters: Mumbai, India
  • Founded on: December 4, 1989.
Oracle Financial Services was established in 1990. It provides the world’s most comprehensive and contemporary banking applications and technology footprint that addresses complex IT and business requirements.

AmBank (M) Berhad, a financial organisation from Malaysia, has recently extended its technology relationship with Oracle and signed a deal for its Financial Analytical Applications. Further, Ajman Bank from the Emirate of Ajman, UAE, has also signed a deal with Oracle and subscribed to the Oracle Financial Services Analytical Applications Cloud Service.

Coforge Limited

  • CEO: Sudhir Singh
  • Headquarters: Noida, India
  • Founded on: 13 May 1992

KPIT Tech

  • CEO: Kishor Patil
  • Headquarters: Pune, Maharashtra, India
  • Founded on: January 28, 1990
KPIT Technologies has been operating since 1990. This global technology company offers IT consulting, product engineering solutions, and services to businesses in the automotive, manufacturing, energy, and utilities sectors.

In March 2023, KPIT Technologies announced a deal with Honda to enhance the company’s SDM or software-defined mobility journey. Notably, Honda has been a partner of KPIT for the past eight years.

Whether you're an investor, a job seeker, or simply someone interested in the Indian IT industry, we hope this article delivers valuable insights into India's top 10 IT companies.

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