Mindtree Success story

Image credit: Economic Times

In the rapidly growing technology industry, you all must have heard the name Mindtree, correct? But have you ever thought about the success story of Mindtree? If not, then you must continue to read. This article will reveal the success story of Mindtree, a journey from nothing to something in the world of the internet.

An IT and consulting multinational company covered a journey of about 25 years in the world of technology and helped more than thousands of companies with their services.

In today’s world, Mindtree has its presence in all possible businesses and builds a market capital of around ₹ 56,643 Cr. The company now has its reach to international clients and delivers its IT services and consultation.

Table of Miindtree’s Highlights

Mindtree- About

The company Mindtree was founded in 1999 as a part of the Larsen & Toubro Group. The headquarters of the company is in Bangalore, Karnataka, India, and it delivers its services to every possible client from here. In 2019, the group took a larger stake (61.08) in the company and became a decisive part of it.

Mindtree is a renowned company in India, where it is one of the leading multinational IT and consulting companies. Apart from India, Mindtree has offices in other parts of the world, such as South & North America, the Middle East, Europe, and Asia.

The company has its priority in working in the IT sector, where it provides IT solutions to the clients from conception to completion, which transforms their journey towards digital technology.

For the vision ‘Born Digital’, the company aims to provide customised solutions to be well-engineered through agile and collaborative methodology across the entire digital value chain.

Mindtree specialises in offering such a great solution that a person must benefit from running an efficient business so that they can scale their business revenue through Mindtree’s profound expertise in infrastructure and applications management.

Mindtree has development areas in application development and maintenance, data analytics, digital services, business process management, engineering R&D, enterprise application services, testing, and infrastructure management services.

Besides these services, the company also provides research and development services, including Bluetooth solutions, digital video surveillance, the MindTest integrated testing methodology, the MWatch platform that manages IT infrastructure, the Atlas application management service, SAP Insurance, and OmniChannel.

Mindtree has contracted hundreds of employees to provide their services to Microsoft Azure, which is the cloud computing service of Microsoft.

Mindtree – Founders

Indian minds: Subroto Bagchi Krishnakumar Natarajan, Rostow Ravanan, N.S. Parthasarathy, Ashok Soota, Scott Staples, Anjan Lahiri, Kalyan Kumar Banerjee, Janakiraman, and Kamran Ozair founded this company. They were the entrepreneurs who transformed the idea of IT solutions into the largest service provider.

Let’s read more about the founders:

Subroto Bagchi

Subroto Bagchi, co-founder of Mindtree, was born in Patnagarh, Odisha. He graduated in political science from Utkal University. He worked as a clerk in the Industries Department of the Government of Odisha.

After just a year there, Bagchi joined DCM as a management trainee, working there for five years. After DCM, he made a name for himself in the computer industry, and on joining Wipro, he became Chief Executive of Wipro’s Global R&D.

Subroto Bagchi is a man who loves to write; else, how does anyone explain most of his tales of his life being published and making him a best-selling business author? One of his autobiographies is titled Go Kiss the World: Life Lessons For The Young Professional. Other bestsellers include MBA at 16, High-Performance Entrepreneur, On Leadership and Innovation, and Sell.

Subroto Bagchi is married to Susmita Bagchi, a prominent Odia author.

Krishnakumar Natarajan

Krishnakumar Natarajan helps establish Mindtree. An alumnus of XLRI, Jamshedpur, and a mechanical engineering graduate from the College of Engineering, Chennai, he worked with Wipro from 1982 to 1999 and began his career there, holding many important positions in the company.

Krishnakumar was rated among the top 50 highest-rated CEOs by Glassdoor in 2013. After 23 years at Mindtree, he has now moved on to become the Managing Partner of Mela Ventures.

Business Model of Mindtree

Being a part of the Larsen & Toubro Group, founded 25 years ago, the business model of Mindtree is generally based on B2B (business-to-business).

Mindtree is known for delivering IT solutions to clients. It majorly belongs to the banking, capital markets, consumer electronics, packaged goods, independent software vendors, manufacturing, insurance, media & entertainment, retail, semiconductors, travel & hospitality, and real estate sectors.

The company provides different services to such clients mentioned in the above paragraph and operates its business model.

Key Services – Mindtree

Blockchain

The company possesses a broad spectrum of blockchain expertise. It works by leveraging strong relationships with top suppliers while bringing new-age technologies like AI/ML, IoT, RPA, and AR/VR to bear on current enterprise systems to develop integrated blockchain products.

Some services in its blockchain offerings include:

• Requirement Analysis
• Selection and Design
• Transformation and Integration
• Implementation Roadmap

E-commerce & Digital Market

Mindtree offers services related to e-commerce and digital marketing in which it delivers personalised content and frictionless commerce, creating and realising outcome-driven experiences for its clients.

Solutions that the company provides:

• Marketing and commerce platforms.
• Direct-to-consumer commerce.
• Mobile app development service.
• Emerging channels.
• Digital Asset Management.
• Marketing, commerce, and IT operations with intelligence.
• Measurement.

Mindtree has alliances with companies like BigCommerce, SAP Partner, Salesforce, Sitecore, etc.

Design & Innovation

The strength of linking consumer behaviour to business results by Mindtree’s design and innovation services lies in the applied knowledge of design thinking along with distinct creative traits. Because of its high-impact strategists, researchers, and designers, further supported by best-of-breed experience technology, the firm can deliver high-quality, game-changing solutions to its clients.

• Product Engineering
• Data & Intelligence
• Cloud Services

Revenue – Mindtree

Most revenue generated by Mindtree is from the above services which have been mentioned above in the article.

On January 16, 2025, for the third quarter of the fiscal year, LTI reported Rs 9,660.9 crore ($1.14 billion) in revenue, representing a year-on-year increase of 7.1%.

Challenges Faced by Mindtree

Mindtree faced a major challenge. It was to be taken over by the L&T group. Mindtree was not pleased with the conditions since this was a hostile bid. Mindtree had competed with L&T, and hence Mindtree did not want its stake to go to its rival company.

The group, however, took over Mindtree in June 2019, which is termed the biggest and first-ever hostile takeover in the IT industry.

Acquisition and Mergers of Mindtree

Mindtree has a list of the mergers and acquisitions which is listed below;

Competitors of Mindtree

In emerging fields like IT and digital solutions, every day, one comes with a unique item, but only some exist. Here is the list of the top competitors of Mindtree.

• Tata Consultancy Services
• Infosys Limited
• HCL Technologies Limited
• Wipro Technologies Limited
• Tech Mahindra Ltd.
• MphasiS Limited
• Oracle Financial Services Software Ltd.
• Persistent Systems and Solutions Ltd.
• Coforge Limited.

Future Vision and Plans – Mindtree

Mindtree is currently involved in operations in cloud computing, data and intelligence, and also digital marketing and e-commerce worldwide, which helps the company in its maximum revenue generation.

“We continue to see very strong traction across all our verticals – Banking, Financial Services & Insurance, Technology, Media & Services, Travel & Hospitality, Retail, and CPG & Manufacturing. Some of the engagements we have notched up for our clients are path-breaking for their respective industries.

Besides, we have a very strong marketplace recognition owing to our partnerships with Cloudera, AWS and Azure, content management with Adobe, and so on,” Mindtree says about its future.

Conclusion

Mindtree is a leading star company in the IT and digital world, which earned the title of one of the best IT solution and consultation providers not only in India but also in the world. The diverse business ideas of the company helped it to spread its reach in India.

Today, we all are aware of Mindtree due to its unique digital solution and contribution to society. Such leaders are the true leaders in the internet world.