Rank 23: HCL Technologies: Another Software Star

The technology arm of the HCL Group, HCL Technologies was a major telecom
software player from India in FY 2001-02. It continued with its strategy of
executing high-value communication software and service projects. Amidst a major
scare that companies with high-telecom exposure would be severely impacted, HCL
Technologies impressively managed to hold on to key accounts like Cisco Systems,
Agilent, Toshiba, and Vitesse Semiconductors. In fiscal 2001-02, it made some
significant wins like the Motorola C-Port project to develop network processors.
On account of these major accounts, HCL Technologies continued to generate a
significant revenue from the telecom vertical. In fiscal 2001-02, its exposure
to the telecom sector is estimated to be as high as 25 percent of its overall
revenues, which translates to a telecom revenue of Rs 388 crore.

HCL Tech has been one of the most versatile Indian companies, with a varied
range of expertise. In digital signal processing (DSP), it has done projects for
Hitachi, Terralogic, and Sony. It has been a key partner to the networking
leader Cisco systems. EMC and NCR have been beneficiaries of its software
expertise in the area of network storage.

HCL Technologies TURNOVER FACTSHEET CEO : Shiv Nadar Year of Start-up : 1994 Area of Operation : Communications Software Address : A-10/11, Sector 3, Noida - 201 301 Tel. : Tel.: 0120-4535071 Fax :  0120-4530591  Web site : www.hcltechnologies.com  S W O T Strength  : Varied telecom expertise Weakness : Lack of transparency Opportunity : The wireless market Threat  : Prolonging global telecom crisis

Telecom market is still down. So, while short-term prospects may not be rosy,
the same cannot be said for its long-term prospects.