Tech Mahindra Ltd is a joint venture between Mahindra & Mahindra Limited and British Telecommunications plc, UK with M&M holding 57 per cent and BT holding 43 per cent of the equity.

Headquartered in Pune, Maharashtra Tech Mahindra provides services ranging from IT strategy and consulting to system integration, design, application development, implementation, maintenance and product engineering.

It has grown to be the sixth largest software exporter in India.

The company's consolidated profit after tax for FY08 stood at Rs 612.6 crore (Rs 6.13 billion).

HCL Technologies (Rank 11)

One of the first Indian 'IT garage startups', HCL Enterprise, launched in 1976, is the mother company of HCL Technologies. Founder chairman and chief executive officer, Shiv Nadar, is the man behind HCL's growth.

HCL Tech focuses on transformational outsourcing has a global network of offices in 17 countries and delivers solutions across select verticals, including financial services, retail and consumer, life sciences (clinical research services) and healthcare, aerospace, automotive, semiconductors, telecom and media and entertainment.

For the quarter ended March 31, 2008, HCL Technologies' net income was Rs 342.5 crore (Rs 3.42 billion); up 3.2 per cent YoY and 2.9% sequentially. It employs 49,802 professionals.

Image: Former British Prime Minister Tony Blair (L) sits next to Shiv Nadar of HCL Technologies Ltd (R) at UK Trade and Investment meet in New Delhi | Photograph: Kirsty Wigglesworth/AFP/Getty Images