Infosys likely to reclaim No. 2 spot from Cognizant soon

BENGALURU: Infosys is rapidly closing in on Cognizant, and next year could be the tipping point when the Indian IT services pecking order would see a shake-up with Infosys reclaiming its No. 2 spot. Cognizant’s revenue had raced past Infosys’s ten years ago.

Infosys in the September quarter had revenue of $4.6 billion, just $300 million lower than Cognizant’s $4.9 billion. And there’s a huge gulf between the two companies’ growth rates. While Infosys grew at 18.8% year-on-year in constant currency in the quarter, Cognizant’s growth was a mere 5.6%. And while Infosys is guiding for a revenue growth of 15-16% in constant currency for financial year 2022-23, Cognizant is guiding for a 7% growth in constant currency for the calendar year 2022 (which is also the company’s financial year).

Cognizant saw searing rates of growth under the previous CEO, Francisco D’Souza, during which the company first crossed Wipro in revenue, in 2011, and then Infosys, in 2012.