Technology no more limited to Tier I cities: Deloitte

**Bangalore:**Technology is no more limited toTier I cities now, according to consultancy and advisory firmDeloitte.

In the latest list of the 50 fastest-growing Indiancompanies in the Technology, Media & Telecom (TMT) space,Deloitte said 14 percent of the Technology Fast 50 winnersthis year are from Tier-II cities such as Rudrapur, Belgaum
and Madurai.“Also, Mobile VAS as a sub-segment is gaining significantstrength and can be classified as a segment in its own right”,it said in a statement.

[caption id=“attachment_114803” align=“alignleft” width=“380” caption=“The 50 fastest growing companies this year have achievedan average revenue growth of 236 percent.Reuters”]  [/caption]

The Deloitte Tech Fast 50 India Programme conducted byDeloitte Touche Tohmatsu India Private Limited (DTTIPL), nowin its seventh year, ranks the fastest growing technologycompanies in India based on their percentage revenue growthover the last three financial years.

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This year, Ubona Technologies Private Limited tops theranking with revenue growth of 1353 percent. With its stateof the art platform, Ubona has been instrumental in enablingthe Telcos, VAS providers and other businesses to offer nextgeneration telephony services to the masses.

In the second place with a growth of 1010 percent isAujas Networks Pvt. Limited, a company specialising inproviding consultancy services in Information Risk Management.

The third place is secured by Prizm Payment services PvtLtd with a revenue growth of 792 percent. The company hasrealised the opportunity presented by the rapid deployment ofcross channel payment points all over the country, ranging fromATM to POS devices.

The 50 fastest growing companies this year have achievedan average revenue growth of 236 percent.However, the average growth rate across the entire rangeof the list has declined. The decline has been uniform acrossthe winners list. The uniform decline in growth could beattributed to the cautious bottom-line focused approach of thecompanies or a result of negative macro indicators, it said.

There has been an increasing presence of the smallersized companies in the winners list. The number of companieswith less than Rs 50 crore turnover have steadily moved from38 percent in 2008 to 62 per cent currently.

This could be an indicator of the agility of smallerfirms to try out disruptive innovations as also venture intountapped markets which are less competitive and a growing signof a greater entrepreneurial spirit.This could be also be an indicator of the maturity of thebusiness life cycle of the large corporations.

PTI