As an aftermath of the multi-billion dollar fraud at Satyam Computer early this year,the Hyderabad-based firm is now officially out of the league of the country8217;s largest software companies,but its new parent Tech Mahindra is now among the top five IT firms.
Besides,rival HCL Tech has now moved up one place to grab the country8217;s fourth largest IT firm8217;s position,occupied by Satyam Computer till last year,according to the latest rankings by industry association Nasscom.
Tech Mahindra,previously ranked sixth,has also moved up one place because of Satyam8217;s exit,while TCS,Infosys and Wipro have retained their top three positions in the list of the country8217;s largest software exporters in terms of their revenue.
Satyam Computer,which has been rebranded to Mahindra Satyam due to its acquisition by Mahindra group8217;s IT arm,has not been included in the ranking at all,as it is yet to release its full-year audited results for the latest financial year.
8220;The ranking is based on companies that have submitted the detailed form. It does not include Mahindra Satyam whose revised audited revenues are not available,8221; Nasscom said.
Satyam Computer plunged into a crisis after the revelation of an overstatement of numbers by its former chairman and founder B Ramalinga Raju.
This list by Nasscom also does not include some companies whose corporate headquarters are located outside India,but have significant India-centric delivery capabilities,and have not shared their India-centric revenue figures.
Had they been ranked based on their India revenues,companies such as Accenture,Cognizant,HP and IBM and would have also appeared in this ranking.