Top 5 Indian IT exporters lose revenue share as mid-tier companies rise

ET Intelligence Group: The share of top five IT exporters in the total sector’s revenue fell by over 100 basis points year-on-year to 81.3% in the March 2025 quarter. It has gradually fallen over the past few quarters to hit the lowest level in at least 29 quarters or since March 2018 quarter amid rising traction shown by a select mid-tier IT companies, including Coforge, Hexaware, and Persistent Systems. The tier-II companies have been reporting higher revenue and profit growth year-on-year over the past several quarters compared with the larger peers led by the shifting focus of clients to short term projects from larger multi-year transformational deals. The top 5 IT exporters include TCS, Infosys, HCL, Wipro and Tech Mahindra ranked based on annual revenues. Sample of tier-II companies include 79 mid and small tier IT companies.