The Indian IT sector has been the backbone of the nation’s economic success, with Wipro and Infosys at the forefront of leading India towards global digital transformation.
Both companies have evolved from modest beginnings into multinational powerhouses, competing with global consulting and technology leaders.
Their journeys highlight not just growth but also the resilience of Indian IT in navigating global recessions, digital transformations, and evolving client demands. In this blog, we will explore the growth story of these two IT giants of the Indian IT sector.
The Early Days: Different Beginnings, Same Aspirations
Wipro started as a producer of vegetable oil in 1945, and later forayed into the IT sector in the 1980s, slowly evolving as a full-fledged IT services company.
Infosys, however, was founded in 1981 by a team of engineers headed by N.R. Narayana Murthy, with a definite vision of creating a pure-play IT services company from scratch.
Although Infosys was a technologically led company from the beginning, Wipro went through a remarkable business transformation to emerge as a global IT giant.
Ownership and Institutional Interest
As of September 2025, Infosys commands a market capitalization of approximately ₹6.33 lakh crore, while Wipro’s has a market capitalization of ₹2.64 lakh crore. Wipro is still largely promoter-controlled, with a 72.67% promoter stake, underscoring its management stability.
Infosys, on the other hand, is much more widely held, with only 14.61% promoter stake and major participation from institutional and public investors. This difference creates distinct profiles for governance, strategic flexibility, and investor interests.
Business Model and Service Portfolio
Infosys built its brand by providing consulting-led IT services, application development, and outsourcing, with a strong emphasis on providing end-to-end solutions. Over the years, it has expanded its service portfolio into cloud, AI, cybersecurity, and digital transformation, providing cutting-edge solutions with the latest technology.
Wipro also established a diversified portfolio, ranging from IT consulting, BPS, engineering R&D, to cloud services. Its acquisitions, like Capco in 2021, have consolidated its leadership in consulting and financial services technology.
Financial Performance and Scale
From FY21 to FY25, Infosys demonstrated steady, strong revenue growth, continuously surpassing Wipro share price. Infosys’ revenue from operations grew 8% YoY to ₹42,279 in Q1FY26, while Wipro’s was ₹ 17,195.40 crore, indicating a slowdown after earlier growth.
Infosys has more scalability and operational excellence than Wipro, as evidenced by its consolidated net profit of ₹6,921 crore, which is double that of Wipro’s ₹3,330 crore.
Margin Strength and Shareholder Return
With an impressive return on equity (ROE) of 28.8% compared to Wipro’s 16.6% and earnings per share (EPS) of ₹65.65 versus Wipro’s ₹12.86, Infosys share price outperformed Wipro in terms of returns.
Infosys also has a higher operating profit margin (22.27%), whereas Wipro continues to have a strong but lower margin (19–21%). Additionally, Infosys rewards income-focused investors more generously than Wipro by maintaining a higher payout ratio (65.9%) and dividend yield (2.82%).
Global Reach and Clientele
In comparison to Wipro, which has 1,371 total clients and 350 Fortune 500 clients, Infosys has a larger client portfolio, with more Fortune 500 clients (450+) and active clients (1,883). While both companies operate in major sectors like manufacturing, healthcare, retail, and BFSI, Infosys offers a broader range of services, including telecom and energy.
But when it comes to geographic reach, Wipro is ahead of Infosys, operating in more than 66 countries, whereas Infosys only operates in 56+ countries.
Conclusion
Infosys is the top performer in the majority of categories, including market capitalization, revenue growth, profitability, and clientele, among others, as compared to Wipro. But Wipro’s strong promoter support and impressive stock growth over the last five years show its strengths and potential for growth.
Wipro is still a strong contender for investors who appreciate promoter-led governance and potential value, but Infosys is often seen as the best option for investors looking for stability and innovation.
