Cranes Software International Ltd has has been recognised as one of the 50 fastest growing companies in India by the Deloitte Touche Tohmatsu for it 'technology fast 50' (India) inaugural award. This award has been instituted in India by Deloitte to recognise the fastest growing technology companies in India.
The 50 companies in the finals list are selected after a rigorous selection procedure that considers percentage revenue growth from FY 2003 to FY 2005, among other considerations.
"It is an honour to be recognised amongst the Fast 50 rapidly growing companies in India by Deloitte. This is the third time in a row that our company has been judged to be one of the fastest growing technology companies in the Asia Pacific region by Deloitte Touche Tohmatsu," says Asif Khader, managing director, of the company.
In FY 2003, Crane posted operating revenues of Rs610.10 million, which increased to Rs 1,136.90 million in FY 2004 and Rs 1,633.80 million in FY 2005. Over the two last years, it has grown a at a CAGR of 63.6 per cent.
It had earlier emerged the fastest growing Indian technology company amongst the public-listed companies in Deloitte Touche Tohmatsu's Asia Pacific 'fast 500 survey' over two consecutive years: 2003 and 2004. These surveys evaluated growth achievements over two consecutive years ended March 2003 and March 2004.