Bangalore: Brand value of Indian IT bellwether Tata Consulting Services (TCS) zoomed 58 percent this fiscal (2013-14) to $8.2bn from $5.2bn the last fiscal with recognition as the world’s fastest growing global IT services brand.
According to the London-based brand valuation firm Brand Finance, TCS brand value grew faster than its global peers IBM, whose brand value grew 10 percent year-on-year (YoY) to $41.5bn from $37.7 percent; HP 23 percent YoY to $19.8bn from $16.1bn and Accenture 22 percent YoY to $11bn from $9bn.
“The record growth represents a quadrupling of our brand value from $2.3bn in 2010 and we rank among the industry’s top four brands for the second consecutive year,” the Mumbai-based company said in a statement here yesterday.
Brand Finance has awarded the TCS brand a rating of AA+, which is a top rating in the industry.
“Calendar year 2013 was excellent for us, with rapid business growth, driven by global demand for digital services and our reputation for industry leading delivery and execution,” TCS chief executive N Chandrasekaran said on the occasion. The $11.6bn global software major has a reputation for its ability to deliver industry-leading IT services and digital transformation projects across sectors and markets.
“We are making efforts in each market we operate in to localise our brand presence and play a stronger role in the economic, social and community fabric of the regions. It is gratifying to see that result in another year of strong performance, with our company emerging as the fastest growing brand in our industry worldwide,” Chandrasekaran said.
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