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Top Indian IT Product Engineering Organizations

Seven Indian product engineering companies ranked by FY26 revenue, with what product engineering means and how the figures were chosen.

21 topics•4 categories•Updated November 2026

How This Ranking Works

4 entries

Product engineering services companies help clients design, build and maintain software products, embedded systems and engineered products, often in automotive, medical devices, telecom, industrial and technology sectors. This page ranks seven Indian listed companies of this kind by revenue for fiscal year 2026 (FY26), the year ended 31 March 2026, in rupees as reported in their results. The ranking is not exhaustive: it covers listed companies that report on a March year-end and are known for engineering and product engineering work, and some, such as Persistent, also run broader digital businesses. Revenue is for the whole company, a few companies changed what they report as continuing operations, sources differ on some figures, and rankings are not endorsements, so check each company's filings. Descriptions are paraphrased.

01Indian IT Services CompaniesThe wider directory of 30 Indian IT services and software companies, including an Engineering and R&D group, on this site. 02Top Indian IT Services OrganizationsLarge Indian IT services companies ranked by FY26 revenue, on this site. 03Top Indian IT Product CompaniesIndian product and SaaS companies with public revenue figures, on this site. 04NasscomIndia's technology industry association, with industry data and reports.

Top Seven by FY26 Revenue

7 entries

Ranked by revenue for the year ended 31 March 2026, as reported in rupees. Each card links to the company's own website.

051. Persistent SystemsFY26 revenue US$1,654.4 million (₹14,748 crore), up 17.4% in dollars, with a 15.6% EBIT margin. A software product engineering and digital engineering services company that also runs broader digital businesses. 062. L&T Technology Services (LTTS)FY26 revenue about ₹10,996 crore (about US$1,233 million from continuing operations), up 14.0% in rupees, with net income about ₹1,282 crore. It treats a divested business as discontinued, so the figures cover continuing operations. Headcount was 23,639 at the end of December 2025. 073. CyientFY26 revenue about ₹7,268 crore, down about 1.2% from ₹7,360 crore, according to press reports of its results. Its Q4 profit was cut by an exceptional charge tied to acquisition costs, and its board approved a ₹720 crore buyback. Sources split its group and engineering-segment figures differently, so check its filing. 084. KPIT TechnologiesFY26 revenue about ₹6,455 crore, up about 10.5%, with net profit about ₹637 crore, down about 24%. Focused on automotive software and engineering. Sources differ on its quarterly revenue, so check its filing. 095. Tata TechnologiesFY26 consolidated revenue about ₹5,506 crore, up about 6.5% from ₹5,168 crore, with net profit about ₹547 crore, down about 19% on one-time costs. Engineering and product development services, with a strong automotive base. The company site returned 403 to automated link checks. 106. Tata ElxsiFY26 revenue about ₹3,757 crore, roughly flat on the year before, with a 5.5% constant-currency decline reported. Design and technology services for automotive, broadcast, communications and healthcare. Headcount was 11,540 at the end of March 2026. Sources do not always say whether the revenue figure is consolidated, so check its filing. 117. Happiest MindsFY26 revenue about ₹2,315 crore, up 12.3%, with operating margin of ₹401 crore and adjusted profit after tax of ₹278 crore, according to its press release. A digital engineering and product services company.

Other Notable Indian Engineering and Product Companies

4 entries

Companies not ranked above, on this site or elsewhere.

12Sasken TechnologiesProduct engineering and semiconductor, automotive and enterprise software services; listed on the Indian Engineering and R&D services directory. 13CoforgeIT services company with a large product engineering and digital business; ranked on the Top Indian IT Services Organizations page. 14Top Indian IT Services OrganizationsTCS, Infosys, HCLTech, Wipro and other large IT services companies ranked by FY26 revenue, on this site. 15Top Indian IT Product CompaniesZoho, Freshworks, Razorpay and other product companies with public revenue figures, on this site.

Related Pages

6 entries

Neighbouring directories on this site.

16Indian IT Services CompaniesDirectory of 30 Indian IT services and software companies. 17Indian Software Product and SaaS CompaniesDirectory of 22 Indian product and SaaS companies. 18Global Capability Centres in IndiaCaptive centers of global firms in India. 19Embedded Systems Courses and CertificationsLearning paths for embedded systems engineering, on this site. 20IndiaIndia hub on this site. 21Top Indian IT Consulting CompaniesConsulting arms of Indian IT majors and consulting-led analytics and AI firms.

Frequently Asked Questions

Which are the top Indian IT product engineering organizations?

By FY26 revenue (year ended 31 March 2026), the ranking on this page is Persistent Systems, L&T Technology Services, Cyient, KPIT Technologies, Tata Technologies, Tata Elxsi and Happiest Minds. It covers listed companies that report on a March year-end and is not exhaustive.

What is product engineering?

Product engineering services help clients design, build, test and maintain software products, embedded systems and engineered products. Typical sectors are automotive, medical devices, telecom, industrial and technology companies. Some firms on this page also sell broader digital services.

How is this different from the IT services and IT product company pages?

Large IT services firms such as TCS and Infosys deliver outsourcing and projects, and product companies such as Zoho and Freshworks sell their own software. This page covers firms that engineer products for other companies. See the Top Indian IT Services Organizations and Top Indian IT Product Companies pages on this site.

Why do some figures say sources differ?

Companies report in different ways, for example group versus segment revenue or continuing versus discontinued operations, and press coverage sometimes mixes them. Where that happened the page says so. Check the company filings for audited figures.

Why is Coforge not in the ranking?

Coforge is a broader IT services company with a large product engineering business, so it is ranked on the Top Indian IT Services Organizations page instead. Persistent Systems appears in both rankings.

Where can I see more engineering and product companies?

The Indian IT Services Companies page on this site lists 30 companies including an Engineering and R&D group, and the Indian Software Product and SaaS Companies page lists 22 product companies. Nasscom has industry data.

How current is this page?

Figures come from results released in April and May 2026 for the year ended 31 March 2026. Company website links were checked on 2 November 2026; the Tata Technologies site returned 403 to automated checks, which looks like bot blocking. Verify numbers in the company filings, and note that rankings are not endorsements.