As many as 10 Indian companies, including Aurobindo Pharma, HCL Technologies, Tata Consultancy Services, and HDFC Bank, have made it to the Forbes Asia Fabulous 50 list.
India has the second-highest number of companies on the list for the fifth year in a row, Forbes said in the list released today.
Forbes further said that the Fab 50’s brightest star, over the decade, was India’s HDFC Bank. The bank has made to the list nine times, more than any other company.
“The Fab 50’s brightest star over the decade, India’s HDFC Bank… it’s now made the list nine times, more than any other company,” Forbes said.
HDFC Bank is the second-largest private sector bank in India. It boasts of nearly 32 million customers and a network spanning more than 4,000 branches in almost 2,500 towns and cities.
The list was dominated by Chinese companies as the country took over half of the spots in the coveted list of Asia-Pacific’s 50 best and big public companies.
Moreover, China boasts the list’s most valuable company Tencent, which is worth USD 176.5 billion and its biggest, Lenovo, which generated USD 46.3 billion in revenue last year.
After China and India, South Korea has the highest number of companies with four firms, while Malaysia, Philippines and Singapore have two firms each and Indonesia, Japan have one firm each on the list.
The ‘Fab 50’ companies were chosen from a pool of 1,116 firms that have at least USD 3 billion in annual revenue or market cap.
Moreover, companies must be publicly traded for at least a year, and hence Alibaba, which listed last September, was not featured in the list, Forbes said.