Rank 56: Hughes Software Systems

Performance Highlights Investment in R&D was 14% of sales, among the highest in the Indian software industry Foray into BPO space to de-risk long-term business outlook President & MD: Arun Kumar l Start-up Year: 1991 l Products & Services: Software services l Employees: 1621 l Branch Office: 3 l Address: Plot 31, Electronic City Gurgaon Haryana - 122015 l Tel: 6346666/ 6345555 l Fax: 6455100 l Website: www.hssworld.com

It was the growth rate that was the biggest casualty, crashing from 86% in

the previous year to 18% in fiscal 2001-02–a clear fallout of the company's

heavy focus on telecom software. As telecoms worldwide crashed, so did HSS

operating margins–sales were up, but profitability went on the skid. The

company charted out a strategy to de-risk its business, and set up a special

division focusing exclusively on the IT-enabled segment and the BPO space.