Information Technology Industry in India

India's information technology industry builds and runs software and technology systems for businesses and governments at home and abroad: custom development, consulting, managed infrastructure, data and AI work, and IT-enabled business services. This page measures the whole industry, listed and private providers together, from statutory filings and exchange prices, and sets it against related industries, buyer searches, geography, news and the wider IT ecosystem.

Top information technology companies in India (listed and private)

Frequently asked questions

How large is the information technology industry in India?

4293 information technology companies with statutory filings (130 listed, 4163 private) reported combined revenue of ₹11.44 lakh crore in FY2025, +7.8% on the same companies, and aggregate EBITDA of ₹2.42 lakh crore. As filed each year, combined revenue was ₹4.56 lakh crore in FY2018, reached ₹11.44 lakh crore in FY2025, the highest in the period; year-on-year changes are measured on the same companies. The 84 listed companies with an exchange price are worth ₹24.41 lakh crore in market capitalisation. Size here is measured in revenue, profit and market value, from statutory filings and exchange prices, not in physical volume of output.

Is profitability improving or deteriorating?

Mixed. The aggregate EBITDA margin of information technology companies was 21.2% in FY2025, 0.3 pts above FY2024, against a peak of 24.8% in FY2021. The low since the peak was 20.8% in FY2024. Profit after tax margin was 12.8% (+0.4 pts on FY2024). Aggregate EBITDA of listed and private information technology companies moved +31% from FY2022 to FY2025 on a same-company basis; FY2025 EBITDA was ₹2.42 lakh crore (+8.8% on FY2024).

Which companies are leading the information technology industry?

By FY2025 revenue the largest information technology companies are Tata Consultancy Services (₹2.55 lakh crore, 28.0% EBITDA margin); Infosys (₹1.63 lakh crore, 26.3% EBITDA margin); HCL Technologies (₹1.17 lakh crore, 23.9% EBITDA margin); Wipro (₹89,088 crore, 24.6% EBITDA margin); Tech Mahindra (₹52,988 crore, 14.8% EBITDA margin). Among the ten largest, Tata Consultancy Services (28.0%) and Infosys (26.3%) earn the widest EBITDA margins and Amazon Development Centre (india) (9.5%) the thinnest. 5 of the 25 largest are private companies, which a listed-only view leaves out.

Where is demand or investment changing?

In the news: Artificial intelligence carried 21.7% of information technology stories in 2025-06 to 2026-05, up 7.0 pts (+47%) on the prior 12 months; net tone +69 vs +52 for all information technology stories. In buyer searches: Search interest in cybersecurity services queries (cybersecurity company, cybersecurity services, cybersecurity companies in india) was +239% in the 12 months to 2026-09 vs the prior 12, led by “cybersecurity company” (+225%), followed by data, analytics and ai services (+108%); custom software development moved +34%.

What should I investigate next?

These are the findings that fired on the data, negative signals first, each with the topic that holds the evidence: Information Technology EBITDA grew 31% since FY2022 (Industry financials). Most tracked information technology companies added people last quarter (Top information technology companies in India). Artificial intelligence is gaining the most ground in information technology news (Information Technology in the news). Cybersecurity services searches rose most in the last year (Search & demand signals). Median EV/EBITDA is 9.9× and median P/E 17.9× across 84 priced information technology companies. (Market capitalisation & valuation).

How are information technology stocks valued?

The median trailing P/E is 17.9× and the median EV/EBITDA 9.9× across 84 priced companies.

What is the information technology industry?

The information technology industry designs, builds, runs and secures software and technology systems for other organisations. In India its core is IT services: custom software and application development, consulting and systems integration, managed infrastructure and cloud services, testing, data and AI work, cybersecurity services and IT-enabled business-process services, sold mostly to clients abroad by a few very large listed groups, a long tail of private firms and the captive centres of foreign groups.

What does this page cover?

Listed IT services, software-services and IT-enabled-services companies, plus unlisted statutory filers registered under the software consultancy, data processing, database or computer-maintenance activity codes, after a hand review of the larger names. Left out: software-product and SaaS start-ups, internet, fintech and gaming platforms, hardware and electronics makers, telecom operators, data-centre operators, staffing and marketing agencies, companies that report inside a listed parent (for example the Infosys, TCS and Coforge group companies) and Mindtree, which merged into LTIMindtree. Recently incorporated companies are not matched by activity code because their codes follow a newer classification.

Research information, not investment advice.