By IANS
New Delhi : Indian IT bellwether HCL Technologies features on the cover page of Forbes' forthcoming issue, with the magazine tracing the journey of the firm as India's first computer company in the 1970s to growing into a billion dollar enterprise today.
Forbes has given detail description of how HCL last year registered revenues of about $1 billion, and how with the company's market capitalization doubled in two years, its chairman and chief executive Shiv Nadar has become one of India's richest men.
The issue dated June 18, slated to hit the stands in New York Saturday, also talks about how the company had faced a crisis when almost 50 of its important clients dropped out, causing a loss of about $80 million.
It elaborates on how the company, under the leadership of Nadar and Vineet Nayar, president, HCL, has undergone rapid changes to carve a niche for itself.
It talks of how Nadar, a young man in 1970s, had an inkling he could emerge as a successful entrepreneur in digital business and started what was then known as Hindustan Computers Ltd. (HCL), and also tells of the difficulties he faced in obtaining licenses.
Eventually it grew to the CL HCL of today – a billion dollar enterprise, employing over 40,000 people globally with a kitty full of blue chip companies.