Mumbai:
Two
US-listed Indian outsourcing firms - Cognizant Technology
and EXLService - have made it to a list of the world''s
100 "hot growth" companies.
Cognizant,
which is headquartered in the US and having most of its
operations and 75 per cent of workforce in India, has
been ranked at 15th position, while EXLService is at 57th
rank.
The
annual list, published in the latest issue of BusinessWeek,
is led by Heelys Inc, a maker of wheeled sneakers used
by kids for skating.
The
two Indian firms, with significant growth potential, are
among 10 software and service firms that have appeared
in the list of companies from around the world.
The
magazine used Standard and Poor''s database of 10,000 public
companies with revenues of $50 million to $1.5 billion
a year and the rankings are based on three-year sales
and earnings growth as well as return on capital.
Only
those companies with a market cap of $25 million or more
and a stock price of at least five dollars were considered,
the magazine said, adding that "profit or stock price
shortfalls, or news that put prospects in doubt, may knock
a company off the list."
According
to the US-based magazine, Cognizant that is the fifth-largest
Indian infotech outsourcing firm has consistently racked
up better
growth rates than its larger rivals with more than 43,000
employees.
In
the first quarter this year, the company''s turnover rose
by 61 per cent to $460 million.
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