Deloitte recognizes fastest growing technology companies in India based on their percentage revenue growth over the past three financial years
Noida-based Mogli Labs was declared the fastest growing technology company in the country by Deloitte Touche Tohmatsu India LLP (DTTILLP).
Deloitte recently announced the 50 fastest growing technology companies in the country as part of its Technology Fast 50 India 2018 program. It is the 14th edition of the program, which was launched in 2005.
The program recognizes the fastest growing technology companies in India based on their percentage revenue growth over the past three financial years.
Mogli Labs was announced overall winner with 11, 836 percent growth in three years, followed by Bangalore-based payments technology company Razorpay Software Private Limited with 11,174 percent. Delhi-based Cashify secured the third position with 853 percent.
This is the second time Ratan Tata funded e-commerce firm has become a Top 50 winner, crossing the 10,000 percent mark.
Although, ranked third and overshadowed in by the top two, Cashify has achieved the fourth highest growth rate ever recorded by a Tech Fast 50 winners in 14 editions.
Top 10 fastest growing companies with revenue growth in three years
- MOGLI labs (INDIA) Private Limited (Moglix), Noida – 11,836%
- Razorpay Software Private Limited, Bangalore: 11,174%
- Manak Waste Management Private Limited (Cashify), Delhi – 6,853%
- Oriano Clean Energy Private Limited, Mumbai – 3,431%
- Element42 Management Solutions Pvt Ltd, Bangalore – 905%
- NumberMall Private Limited, Hyderabad – 881%
- Loginext Solutions Private Limited, Mumbai – 841%
- Videonetics Technology Pvt Ltd, Kolkata – 699%
- Serosoft Solutions Private Limited, Indore – 682%
- DigitalAPICraft Pvt Ltd, Bangalore – 625%
The combined revenue of the top 10 technology companies jumped from Rs 18 crore in 2016 to almost Rs 500 crore in 2018, marking a growth of almost 28 times.
Also, the overall three-year average growth rate of Top 50 was highest ever at just over 910 percent. This year’s edition saw 20 repeat winners.