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Cognizant Overtakes Wipro

Cognizant, which was spun off from US business information group Dun & Bradstreet in 1996, overtook Wipro in the last quarter to become India’s third-largest software exporter by sales. Industry experts expect the fast-growing group to eventually surpass number two Infosys and challenge the dominance of Tata Consultancy Services, the sector’s top player with revenues of about $8bn.

Cognizant saw revenue grow 40 per cent in 2010 and expects 32 per cent growth in sales this year to $6.06bn. That compares with 2011-12 growth estimates for the entire sector of about 15 per cent, according to Nasscom, the body representing the $70bn-plus Indian IT industry.

Source:  Financial Times

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