Cognizant seems to slowly gaining the aura which Infosys has had for past decade or so – The consistency with which Cognizant has churned out high growth numbers over past few years, quarter on quarter, has been just amazing!
Even though Cognizant is one of the youngest IT services company among the elite group, they have managed to keep two paces ahead in growth. It is easier when you are comparatively a smaller size to log high rates, but Cognizant has maintained it even as they have grown into a behemoth.
So, just how fast has Cognizant grown ?
Cognizant overall revenue is expected to be above Wipro in June Quarter – They had already surpassed Wipro’s North American revenue in June 2009 itself. Cognizant’s share from US market is also higher than Industry average – Cognizant’s 78% vs Industry average of 65%.
The biggest surprise though for this quarter was Cognizant overtaking Infosys in terms of their North American revenue. Infosys’ revenue from North American market stood at $1,020.5 million, while Cognizant’s revenue from the same geography touched $1,070 million.
Till now, Infosys has been a pole bearer of Indian IT Industry worldwide – They have mostly stood tall and have been away from any kind of controversies and mis-doings. Infact, when Narayan Murthy & Nandan Nilekani were at the helm, Infosys looked like nothing could go wrong with them – but last few months have been some of the worst months in Infosys history. Falling revenue growth rates and power struggle at the top seems to have taken away the cloak of invincibility from Infosys. They are clearly struggling!
With K. V. Kamath being appointed at the helm now, it has to been seen whether he can create the same magic with Infosys as he did with ICICI Bank in past.
Till then, it seems the baton of being the shining star of Indian IT Industry has been passed to Cognizant!
What do you think ?