The IT Torch-Bearer

These might not be the best of times for IT sector in India, but they are not the worst either for a chosen few. MindTree falls in the latter category; in fact, far from it. India’s first venture-capitalist-funded IT company and one of the brightest stars on the IT horizon was established in 1999 in Bangalore and operates in two broad units – production engineering services (PES) and IT services. Its presence is spread across the world which can be broadly divided in four parts: The Americas, Europe, Asia and rest of the world. The company earns more than two-thirds of its revenue from overseas market with Americas (57.9 per cent) and Europe (26.2 per cent) forming the top-2. The shining glory for the company came last year when it provided application development, maintenance, and support services for the Government of India’s Unique Identification (UID) project, Aadhar. Strengths MindTree has developed a comprehensive range of services that offer end-to-end IT services. With delivery centres in India and the US, it offers IT strategy consulting; application development and maintenance; data warehousing and business intelligence; package implementation; product architecture and design; engineering and infrastructure management; and host of other services to its customers. • 98 per cent of its revenue has come from repeat business and existing clients. It has now four customers in the $20 million-plus category compared to just one in the previous fiscal • Its global delivery model, ‘Oneshore’, focuses on achi

This article was originally published on November 29, 2012.