Powerful Connections 2015 Annual Ranking of the fastest


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2015 INDIA
Powerful Connections 2015 Annual Ranking of the fastest growing technology companies in India
October 2015 For private circulation only www.deloitte.com/in
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Contents

Foreword

03

Eleven years and counting

04

Consistency is their ‘Mantra’

06

The Top 5 of 2015

08

2015 Deloitte Technology Fast50 India Ranking

10

About Deloitte

12

2

Foreword

Deloitte Touche Tohmatsu India LLP is proud to present the Eleventh edition of Deloitte Technology Fast50 India program.
A program that started in 2005 has become the preeminent event recognizing excellence in Technology in India, and we are truly humbled by the appreciation and enthusiasm of the participants over the years.
The technology sector in India has seen massive transformation over the past decade, from being an emerging services star with very few companies around the billion dollars revenue bracket to being the most significant country after the US in Information Technology and Business Process.
Since 2005, when the first edition of Deloitte Fast50 India event was launched to this edition, we have seen a number of Technology businesses from India becoming forces to be reckoned with in the Global arena.
There are few other sectors as volatile as the Technology space. Technology is the agent that brings in a constant stream of change to business in particular and society at large. The regularity with which computing power of processors has made its quantum leaps and the exponential increase in communication channels and devices are the best examples to corroborate this. These changes can provoke massive disruption but can also strengthen existing industries. And this is where we truly believe that this year’s Tech Fast50 winners will play a significant role in the Technology ecosystem in years to come.
In this fast evolving and exciting time, we present the 2015 Deloitte Technology Fast50 India awards to recognise, honour, and encourage those businesses who are striving forward with remarkable revenue growth rates using their technology, innovations, and quality of human resources. Sustaining growth in a competitive and dynamic environment needs innovation

and adaptability on a continuous basis, and our Top 50 Winners of 2015 are a testament to this. 31 of this year’s winners are repeat winners.
To maintain the comprehensiveness and quality of rankings of high-growth technology businesses, key data is sourced from qualifying businesses from across India. The resulting ranking tracks and testifies to the achievement of the fastest growing 50 technology businesses in India, private or public, as gauged by their revenue performance over the past three financial years. We are thankful to our participants who have participated in this year’s program as also all the participants from the inception of the program in 2005.
This year, the average three-year revenue growth across segments were relatively lower than the previous edition. However, whilst we see lower growth rates for the Top 25 of this year comparative to the Top 25 of last year, we see a more homogenous growth rate amongst the Bottom 25 winners.
Whilst on an overall basis, software businesses continue to lead the rankings, the spread of service and product offerings by these companies is widening.
The overall winner in this year’s ranking is F1 Info Solutions & Services Private Limited, realising a high 3961 percent three-year revenue growth, the third highest growth rate recorded by a winner in the eleven years of Tech Fast50 India.
The second, VMukti Solutions Private Limited achieved 1025 percent, a remarkable performance improving on their previous years growth rate and ranking.
The third placed, GreyCampus Edutech Private Limited, grew by 832 percent.
We congratulate all the winners on their outstanding achievement.

Powerful Connections 3

Eleven years and counting
2005 2006 2007 2008 2009 2010 2011 2012
2013
2014
2015
4

A glimpse of the years gone by
• Tech Fast50 India Program Launched • ACL Wireless Limited - the First ever winner of Deloitte Technology Fast50 India • Nominations to Tech Fast50 India start widening • All top 50 winners with growth rate over 100% • Collective average growth rate of Top 50 winners cross 450% • 50th Ranked winner clocks a three-year average growth rate of over 150% • The program widens with the largest number of nominations to date
• Signs of downturn appear but Top 50 Winners continue their growth path
• Emergence of Media & Entertainment and Internet-based businesses in Top 50 • Average growth rates were lower, but signs of stability amongst fast growing technology companies • Businesses in Tier 2 cities give stiff competition to Metros • High growth rates rebound and we were tempted to ask: "Downturn, Where?" • First time a Top 50 Winner, Online Recharge, records a 3 year average growth rate in excess of 5,000% • Internet and Media businesses lead the packs with strong growth rates • All Top 50 ranked companies record over 100% average growth rates after a break of few years • Year of many firsts for the Tech Fast50 program in India • First time for a Top 50 Winner to cross the 10,000% growth mark (Ardom Telecom recorded an amazing
3 years average growth rate of over 12,000%) • First time when the Top 3 Winners crossed the 2,000% growth mark • First time when the Top 5 Winners crossed 1,000% growth mark • Internet enabled businesses stamp their dominance as growth leaders • Highest ever collective average growth rate of Top 50 winners at over 650% • Deloitte Technology Fast50 India celebrates its Tenth Anniversary • Muted but stable growth rates compared to 2013, perhaps an expression of the growth
rates across sectors in India over the past year • Nomination to Tech Fast50 India program crosses 250 • Highest ever nominations from India to Deloitte Asia Pac Fast 500 Program • Over 50% of Top 50 Winners record over 200% growth rates
• Overall winner records third highest growth rate ever in the eleven year history • Top 5 winners average just under 1500%, with the Top 10 averaging close to 1000% • Software businesses continue their dominance with 23 winners in the IT services sector and 7 in Business
Applications sector • Top 25 record 200 percent plus growth rates • 31 Repeat winners; 12 of whom have improved on their prior ranking
Powerful Connections 5

Consistency is their ’mantra’

Achieving high-growth rates require great efforts, but to sustain it consistently requires greater resilience. 31 winners of this year have been past winners, a testament to their consistency and sustained growth over the years.

This year’s rankings has seen the most consistency in winners in the eleven years of the program in India: • 1 winner has ranked consistently since 2009 • 2 winners have ranked 4 times each, consistently since 2012 • 2 other winners who have ranked 4 times each over the span of the program • Whilst 7 winners have ranked 3 times each consistently since 2013, 3 others have
ranked 3 times each over the span of the program • 16 winners have ranked 2 times each, most of them in 2014 and 2015
Latent View Analytics Private Limited

The Latent View culture lays emphasis on long-term focus, and treats careers and client relationships as marathons. It takes sustained efforts by our analysts, over long periods of time, overcoming many obstacles, pain barriers and multiple small wins to reach milestones that signify success. Becoming a Trusted Analytics Partner to the World’s Most Recognized Brands is the journey our team is focused on, and this award for the seventh consecutive year, adds wings to our ambition. “Pain is temporary, but the Pride lasts forever.”
Gopi Koteeswaran, CEO, LatentView

Our most consistent winner who need special accolades
Winners consistently since 2009
4 time winners Think & Learn Private Limited Winners since 2012
Tech Mahindra Limited Winners – 2015, 2014, 2008, 2007
Zifo Technologies Private Limited Winners since 2012
Astra Microwave Products Limited Winners – 2015, 2014, 2006, 2005

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"We are happy to be in this list for 4 consecutive years, and that too by growing faster on a larger base, making us one of the largest Education technology Companies in India. Our phenomenal growth bears testimony that technology and data science can make a impact in the way people learn. Constantly innovating on technology every year has been a strong reason for where we are today. Our vision is to continue revolutionising the way millions across the world learn."
Byju Raveendran, CEO, Think & Learn
“It is a sense of satisfaction and a matter of an achievement to be part of Technologo Fast50.”
Shri Bhumireddy Malla Reddy, Managing Director, Astra Microwave Products

“We are delighted to be part of the prestigious Deloitte’s Tech Fast50 this year too. We have been consistently part of this set of winners over the years and the rank is testimony to the work we do – putting clients first and looking to employee satisfaction, both leading to stakeholder delight, again and yet again. This also speaks volumes for our associates living the tenets of our core philosophy (Rise™) – accepting no limits, alternative thinking leading to innovation and driving positive change. This award is a dedication to their hard work that keeps us in the game in times that are competitive and dynamic.”
C.P.Gurnani, Managing Director & CEO, Tech Mahindra

"We are proud to be a part of the Fast 50 list for 4 consecutive years. It is one of the best recognitions for fast-growing, emerging companies. Our team is our most valuable asset. I would attribute the success to their rich expertise, energy, enthusiasm and customer focus. As a Global Lifesciences R&D technology services company, it has been an interesting time for us – Over the past 12 months, we have acquired some of the large BioPharmas as our customers and with this endorsement, we are very excited about future possibilities.”
Raj Prakash G, CEO, Zifo Technologies

Powerful Connections 7

Top 5 of 2015

This year’s top five achieved an average three-year growth rate of 1456 percent
Top 5 at a glance
• Combined three-year revenue growth of average of 1456 percent, fourth highest in the 11 year history of Tech Fast50 India
• 3 of the top 5 are repeat winners
• No stand out sector with Top 5 spread across computer peripherals, software applications, Media, Internet, and Communication technologies

1. F1 Info Solutions & Services Private Limited

Sector

Software-Business Applications

Location

Mumbai

Three-year growth

3961%

Founded

2012

Founder

Paras Shah

Website

www.f1infoservices.com

2. VMukti Solutions Private Limited

Sector Location Three-year growth Founded Co-founders Website

Software – Business Applications Ahmedabad 1025% 2007 Hardik Sanghvi and Kushal Sanghvi www.vmukti.com

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F1 Info Solutions and Services provides Warranty support, Spare parts management, and Data center management services in the field of IT, Telecom, Security surveillance, and Home automation. The company has worked closely with brands such as: Apple, IBM, Samsung, Sony along with various other international brands.
New entrant to Tech Fast50 India program

"F1 Info Solutions & Services is proud to be the winner of the prestigious Deloitte Tech Fast 50 Award 2015. It vindicates the company's vision and mission to be the best neutral service provider in the ICT sector. The Award recognizes the service excellence and best practices of our company which has driven us to achieve exponential growth over the past four years and emerge as the top player in the industry.“ Shammi Moza, CEO

VMukti is a provider of interactive solution through Webcasting services, Web-conferencing and Cloud Based Video Monitoring.
VMukti seeks to bridge the digital divide by enabling video streaming across rural and urban geographies. The company received an early stage funding from GVFL, Gujarat IT Fund, and others.
22nd rank in Tech Fast50 2014 program

"Feeling extremely happy to be part of the Deloitte Fast 50. While feeling proud to be in an elite league, I in fact feel motivated to continue performing at equal or even better acceleration during current financial year. We thank and congratulate Deloitte for such an extra-ordinary program.“ Hardik Sanghvi, Founder Chairman

3. GreyCampus Edutech Private Limited

Sector Location Three-year growth Founded CEO Website

Media – Education and Traning Hyderabad 832% 2008 Vijay Pasupulati www.greycampus.com

4. Zomato Media Private Limited

Sector Location Three-year growth Founded Founder and CEO Website

Internet – Content Gurgaon 750% 2008 Deepinder Goyal www.zomato.com

GreyCampus provides online training solutions for various global certifications. The portal makes use of an in-house technology platform that helps deliver personalized courses to students. Over 10,000 professionals have been trained by the 500 instructors contracted with the portal.
New entrant to Tech Fast50 India program

“It feels great to be recognized as part of the top 50 for a young company like ours. We are on a mission to change the way working professional enhance their competencies through convenient anytimeanywhere training solutions. This recognition will help us accelerate the pace of our mission.” Vijay Pasupulati, CEO

Zomato is a hugely popular restaurant discovery and review platform that allows user to browse through menus, upload and view pictures and provides user generated information on restaurants, located in around 10,000+ cities across 22 countries. It has recently entered the online ordering space as well.
3rd rank in Tech Fast50 2014 program

"We are extremely delighted to be part of the Deloitte Fast50 Technology rankings this year. The Deloitte program recognises fast growing companies across the world and we're glad to be among them.“ Deepinder Goyal, Founder & CEO

5. Ozonetel Systems Private Limited

Sector Location Three-year growth Founded Founder and CEO Website

Software – Business Applications Hyderabad 715% 2007 Murthy Chintalapati www.ozonetel.com

Ozonetel is a leading Cloud Telephony solution provider that enables businesses to communicate effectively via one platform with no capital investment. Ozonetel’s solutions enable businesses to leverage a variety of communication channels to help empower their brand, as well as, improve on their customer interactions. Used by over 4,000 developers, 1,000 enterprise clients across 150 countries.
18th rank in Tech Fast50 2014 program

“A moment of pride for Ozonetel to have made it to Deloitte Fast 50 for the 2nd consecutive year. We, at Ozonetel are committed to work tirelessly towards making Business Communications seamless and easily available to all enterprises big or small through constant innovation and design. We are also excited to tap into the existing mobile reach of nearly 980 million subscribers and help businesses run their marketing programs to reach the bottom of the pyramid.” Murthy Chintalapati, CEO
Powerful Connections 9

Deloitte Technology Fast50 India 2015 Ranking
A league of its own The Deloitte Technology Fast50 India Ranking measures and recognizes growth of the fastest-growing technology companies in the country. Fifty companies are ranked according to revenue growth rates over the past three years. How does DTTILLP TMT Industry Group determine the winners? The Deloitte Technology Fast50 India 2015 winners consist of the 50 public and private technology, media and telecommunications businesses headquartered in India, that have achieved the highest rates of revenue growth over the past three years. In order to be eligible for Technology Fast 50 recognition, companies must have base-year operating revenue of at least USD 50,000. The DTTILLP TMT Industry Group assumes that all information provided by each company is accurate and does not independently verify such information.
This year’s Deloitte Tech Fast50 India rankers have shown an aggregate growth of 356 percent. Whilst the growth rates were relatively muted vis-à-vis the previous editions, the average stands at the fifth highest in Tech Fast50’s eleven-year history. This year trends: • IT Services companies (IT Management
category) dominate the Fast50 with 23 entries • Software Products (Business Apps category) has 7 entries – this signifies the emergence of India as a software product destination. • Business Applications has seen high growth in companies across Video conferencing, speech analytics, AdTech, Open Source, MDM and EduTech.
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Powerful Connections 2015 Annual Ranking of the fastest