Brand valuation of TCS surged by 58%; valued at US$ 8.2bn
Tata Consultancy Services (BSE: 532540, NSE: TCS), a leading IT services, consulting and business solutions organisation, has been recognised as the fastest growing IT Services brand globally by Brand Finance, the world’s leading brand valuation firm. Brand Finance assesses the dollar value of the reputation, image and intellectual property of the world’s leading companies. Brand Finance’s brand valuations are frequently peer-reviewed by top audit practices, accepted by various regulatory bodies and used by leading global brands as a performance benchmark.
The annual report ranks TCS as the fastest growing brand within the IT services sector, with the company’s overall brand value increasing by US$3.04 billion in 2013; a growth rate of 58% year-on-year. It represents a quadrupling of its brand value, which stood at US$ 2.3 billion four years ago in 2010. TCS’ total brand value now stands at US$8.2 billion, ranking it among the industry’s top four brands for the second consecutive year. Brand Finance has also awarded the TCS brand a rating of AA+, the top rating in the industry.
N. Chandrasekaran, CEO and Managing Director of TCS commented; “2013 was an excellent year for TCS, with the business continuing to grow rapidly, driven by increased global demand for digital services and our reputation for industry leading delivery and execution. We are making increased efforts in each market we operate in, to localize our brand presence and play a stronger role in the economic, social and community fabric of the regions. It is gratifying to see that result in another year of strong performance, with TCS emerging as the fastest growing brand in our industry worldwide.”
TCS has established a strong reputation for its ability to deliver industry-leading IT services and digital transformation projects across a wide range of sectors and markets. The company continues to invest heavily in its brand presence worldwide, delivering award winning marketing and public relations programmes, major sports sponsorships and a wide range of corporate social responsibility activities across each of its key markets. 2013 also saw TCS announce an eight-year partnership with New York Road Runners that will see the company take on the role of title sponsor for the New York Marathon from 2014 onwards. It also sponsors Berlin, Amsterdam, Chicago, Boston, Bangalore and Mumbai Marathon as part of a major focus on health and wellness.
“Brands are the most valuable assets that companies own, driving demand and building relationships with customers and partners,” commented David Haigh, CEO and founder of Brand Finance. “To become one of the most valuable, brands must be loved and trusted not just by customers, but by a broader range of stakeholders and the public as a whole. Tata Consultancy Services has proven yet again in 2014 that it has one of the most valuable IT services brands in the world. The brand’s strong focus on customer service, effective partnership and innovation has made it a dominant force in the IT services space. I expect that with further effective management of the brand, TCS can continue to maintain the impressive brand value growth that has made it the - fastest growing IT services brand in 2014.”