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News >> Technology >>
Kanbay among top small companies in U.S.
By agencies
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Thursday, 02 June 2005, 19:30 IST
PUNE: Nasdaq listed Kanbay International, which has 80 percent of its staff located in India, has been ranked in ninth on BusinessWeeks 2005 list of America's 100 best small companies.
Kanbays ranking is ahead of Cognizant (ranked 14) and Autodesk (50), which also have significant presence in India, according to the latest issue of BusinessWeek.
For the survey, BusinessWeek studied more than 2,200 publicly traded companies with annual revenues between $50 million and $1.5 billion. The companies were ranked by sales and earnings growth, as well as return on capital over the past three years.
"As initial public offerings go, Google was the biggie in 2004. But, Kanbay International quietly hit the market with its own impressive offering as well. Its bang-up numbers make Kanbay one of the few in the outsourcing business thats growing fast while also maintaining profitability," the magazine said.
Commenting on the ranking, Raymond Spencer, Chief Executive Officer of Kanbay, said: "Being named in the top 10 of BusinessWeeks best small companies in America is a great validation of our business model and a tribute to the over 4,000 Kanbay associates around the globe."
Kanbay, which has its India development centers in Pune, Hyderabad and Chennai, employing over 2,500 people, had posted a 37 percent compounded growth in sales over the last three years. The earnings growth was 138.2 percent during the period while the return on capital stood at 19.1 percent, Spencer said.