List of Top 10 IT Companies in India 2023 by Revenue and Market Cap

Top 10 Software Companies In India 2023

Here is the list of best Software companies in India [Indian IT companies] depending on Total Revenue and Market capitalization. Software and IT companies from this list are the major of the IT Industry in India.

India is one of the biggest IT offshoring hubs, and Top Software companies play a significant role in developing the countries’ economies. According to the NASSCOM (The National Association of Software and Service Companies) Report, IT sector revenue is to grow 7.7% in FY20 to $191 billion. 

IT sector added 2 lakh and more jobs in FY20, taking the overall workforce and a good strength to 4.36 million, said the Indian IT lobby group NASSCOM(The National Association of Software and Service Companies ). 

Best Indian Software and IT companies give traditional Software services and reshape the world by advancing in technologies like  Big data, cloud computing, analytics,  artificial intelligence (AI), machine learning, robotics, IoT, augmented and virtual reality.

best it company 

List of Top 10 Software Companies in India 2023 by Revenue and Market Cap perform

Here is the list of the best 10 IT companies in India in 2023. The list is ranked depending on Total Revenue and Market capitalization in recent years.

1. Tata Consultancy service. – Largest IT Company in India.

TCS was created in 1968 to give the punched card and solution services to Tata Steel. Today Tata Consultancy Service (TCS) is the biggest IT Company in India by Revenue and Total Market Cap for a Software company in 2023.

TCS provides the best Software services, Business and consulting, and Digital transformations to the world’s largest businesses and serves the Software services and IT consulting industry in India.

TCS is the 2nd-largest company in India in terms of Market Capitalization. It is the largest in the list of the best 10 Software companies in India in 2023.

CEO: Rajesh Gopinathan
Headquarters: Mumbai, Maharashtra, India
Market Cap: Rs 1,098,792 Cr.
Revenue: Rs 161,541 Cr.
Employees: 448,464
Sales Growth-Revenue (3Yrs): 9.8%
Sales Growth-NetProfit (3Yrs): 7.1%
ROE: 44.72 %
Promoter holding: 72.05%

On 8 October 2020, TCS surpassed Accenture and became the world’s most valuable IT Company with a $144.73 billion market capTata practice Services(TCS) has over two hundred offices across 46 countries and 147 delivery centers in 21 countries. TCS is one of the most important private-sector employers in the Republic of India and has 448,464 workers.

2. Infosys

Established in 1981 by 7 engineers with a capital of a total of US$ 250, Infosys is a global consulting and also Software services company with a revenue of US$13 billion(FY20 revenues). Infosys is the 2nd-largest Software Company on the list of the best 10 Software companies in India in 2023.

Infosys is the first NASDAQ (National Association of Securities Dealers Automated Quotationslisted Indian IT Company. Today Infosys is a BSE and NYSE listed as the best company with 242,371 people employees. With a market capitalization of IN 536,899 Cr, It is considered 1 of India’s best Indian Software companies.

Infosys is in the news for the last year due to multiple Billion dollar deals company.

CEO: Salil Parekh
Headquarters: Bengaluru, Karnataka, India
Revenue: Rs 93,594 Cr.
Market Cap: Rs 536,899 Cr.
Employees: 242,371
ROE: 24.97%
Sales Growth-Revenue (3Yrs): 9.4%
Sales Growth-NetProfit (3Yrs): 5.0%
Promoter holding: 12.95%

The company has a world-class best training center in India Mysore, Karnataka.

One of its known best products is Finacle, a comprehensive banking solution with various retail and corporate banking modules.

Infosys provides our software development and various product and best services, including NIA – Next Generation Integrated AI Platform (formerly known as Mana), global management consulting service through Infosys Consulting, Infosys Information Platform (IIP) – Analytics platform, Panaya Cloud Suite, Skava, Engineering Services, Digital Marketing.

3. HCL Technologies

HCL Technologies is one of the top Indian software companies in India. 6 engineers, led by Shiv Nadar, would create a company that make personal commercial computers, and on 11 August 1976, the company was started as Hindustan Computers Limited (HCL)

HCL is a leading global IT services and consulting company which helps global enterprises of re-imagine and transform their businesses through the  Digital technology transformation.

HCL has over 150,000 employees and a total Market Cap of 257,933 Cr. HCL is the 3rd-largest Indian top Software companies.

CEO: C Vijayakumar 
Headquarters: Noida, Uttar Pradesh, India
Revenue: Rs 71,265 Cr.
Market Cap: Rs 257,933 Cr.
Employees: 150,000
ROE: 24.04%
Sales Growth-Revenue (3Yrs): 13.6%
Sales Growth-NetProfit (3Yrs): 8.7%
Promoter holding: 60.33%

HCL gives various services, including Applications Services and Systems Integrations, BPO/Business Services, Infrastructure Management Services (IMS), IoT WoRKS, DRYiCE, Digital & Analytics, Cybersecurity, and GRC Services. 

HCL operates across various sectors, including aerospace and defense, banking, media and entertainment, healthcare, retail, telecom, hi-tech, insurance, life sciences, manufacturing, oil and gas, travel, and logistics.

HCL Technologies is on the Forbes 2000 Global list with a high market capitalization of $21.5 billion. In 2020, Roshni Nadar Malhotra became the chief Chairman of the HCL succeeding the HCL founder Shiv Nadar.

4. Wipro Limited

Wipro (formerly, Western India Palm Refined Oil Limited ) is a leading global information technology [Indian IT companies] consulting and business process services company. 

Wipro is one of India’s best Indian software companies mentored by Azim Premji and on the list of the top-5 software companies in India. On 6 July 2020, Thierry Delaporte became the new CEO of Wipro 2023.

Wipro harnesses the power of cognitive computing, robotics, cloud, analytics, and emerging technologies and helping the customer to a digital transformation.

Wipro has over 180,000 dedicated people employees serving clients across six continents. 

CEO: Thierry Delaporte 
Headquarters: Bengaluru, Karnataka, India
Revenue: Rs 63,862.60 Cr.
Market Cap: Rs 221,812 Cr.
Employees: 180,000
ROE: 24.04%
Sales Growth-Revenue (3Yrs): 3.2%
Sales Growth-NetProfit (3Yrs): 4.6%
Promoter holding: 74.02%

Wipro is the 4th largest Indian top software company. It is one of the best Indian software companies recognized globally for its strong commitment to sustainability and best corporate citizenship.

5. Tech Mahindra Ltd

Some Top Indian IT Companies have clients from mainly the USA; however, Tech Mahindra’s primary client bases are in Europe/UK. Tech Mahindra is considered one of the top software companies from India in the Telecom Domain.

Tech Mahindra represents the connected world in their way, offering innovative and customer-centric information technology (IT) experiences, enabling enterprises worldwide.

CEO: C.P. Gurnani
Headquarters: Pune, Maharashtra, India
Revenue: Rs 38,060.10 Cr.
Market Cap: Rs 94,609 Cr.
Employees: 125,236
ROE: 20.35%
Sales Growth-Revenue (3Yrs): 8.4%
Sales Growth-NetProfit (3Yrs): 12.8%
Promoter holding: 35.82%

Tech Mahindra is a US$5.2 billion company with over 125,000 employees across 90 countries.

6. Mphasis Ltd

Incorporated in June 1992, as a result of the merger of the US-based software company Mphasis Corporation and Indian IT company BFL Software Limited, it is one of the best Software and IT companies in India.

Mphasis serves 6 top global banks, eleven out of fifteen best mortgage lenders, and 3 top global insurance companies. 

CEO: Nitin Rakesh 
Headquarters: Bengaluru, Karnataka, India
Revenue: Rs 7,907 Cr.
Market Cap: Rs 28,568 Cr.
Employees: 22,239
ROE: 32.77%
Sales Growth-Revenue (3Yrs): 12.6%
Sales Growth-NetProfit (3Yrs): 14.4%
Promoter holding: 56.16%

7. Mindtree Ltd

Mindtree is 1 of the best new-age Indian software companies that create working on Digital Transformation projects earlier than some of India’s biggest software companies.

L&T Group acquired Mindtree however works as a separate entity as compared to an expectation of merging it with Larson and Toubro Infotech (Another software subsidiary of the L&T group).

The company is a global technology consulting and services company and gives the best services for e-commerce, mobile applications, cloud computing, data analytics, and enterprise application integration.

CEO: Debashis Chatterjee
Headquarters: Bengaluru, Karnataka, India
Revenue: Rs 7,839.90 Cr.
Market Cap: Rs 27,331 Cr.
Employees: 21,991
ROE: 19.98%
Sales Growth-Revenue (3Yrs): 14.0%
Sales Growth-NetProfit (3Yrs): 14.7%
Promoter holding: 67.59%

LTI is operating in over 15 countries across the globe with 21,000+ Employees. It is among the list of best software companies in India.

8. Larsen & Toubro Infotech Ltd.

Larsen & Toubro Infotech Ltd, also known as LTI, is a global IT solutions and services company based in Mumbai, India. Founded in December 1996 as a wholly-owned subsidiary of Larsen & Toubro Ltd (L&T), according to NASSCOM(The National Association of Software and Service Companies ), Larsen & Toubro Infotech(LTI) is the 6th-largest Indian software services company in terms of export revenues. 

CEO: Sanjay Jalona
Headquarters: Mumbai, Maharashtra, India
Revenue: Rs 11,207 Cr.
Market Cap: Rs 182,132 Cr.
Employees: 31,437
ROE: 12.80%
Sales Growth-Revenue (3Yrs): 10.1%
Sales Growth-NetProfit (3Yrs): 16.5%
Promoter holding: 74.62%

The company has operations in 30 countries, accelerating digital transformation with the world’s best businesses in 2023.

9. Hexaware Technologies Ltd

Founded as Information Technology, BPO(Business process outsourcing) service company in 1990, today Hexaware Technologies Limited (HTL) is a global leader and the ultra fastest-growing next-generation IT, BPO, and consulting services provider. It is one of the best Top 10 Indian software companies in India.  

Hexaware is headquartered in Navi Mumbai, Maharashtra, India, and has 33 global offices and over 18,294+ employees.

Hexaware Technologies voluntarily delisted from the BSE and the NSE as of November 2020.

CEO: R Srikrishna
Headquarters: Navi Mumbai, Maharashtra, India
Revenue: Rs 5,306 Cr.
Market Cap: Not Applicable as the company delisted from BSE and NSE.
Employees: 18,294

10. Coforge ( Formerly NIIT) :

Coverage is an Indian software and services company operating in many countries. 

Founded in 1981 by Rajendra S. Pawar and Vijay K. Thadani, graduates from IIT Delhi as NIIT Technology; In 2020, NIIT Technology was re-branded as Coverage.

Market Cap: INR 9,067.34 Cr
Revenue: INR 558.10 Cr
CEO: Sapnesh Lalla
Number of employees: ~10,000
Headquarters: Gurugram, India

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