Pandit, co-founder of KPIT, on his way to owning billion dollar business

August 20, 2014

In the late 1980s, three guys from an accounting firm in Pune came up with the idea of offering IT services knowing they were entering uncharted territory. Two were accountants – Ravi Pandit, graduate of MIT’s Sloan School of Management, and Kishor Patil–teamed with an in-house tech expert, Shirish Patwardhan. During this time, personal computers were still getting popularized, and Indian businesses were new to computers in general. And the trio themselves were having to reorient–but they had an edge. All were part of Pandit’s father’s accounting firm, Kirtane & Pandit, which had a list of well-established clients. So the first 50 or 60 customers for the new IT company, christened KPIT, came from the accounting firm.

The company, founded in 1990, soon evolved into one of the fastest-growing IT enterprises in the country. Revenues went from $10 million in 2002 to $100 million in 2007 to $444 million in 2014. Profits have more than tripled to $42 million in the last seven years. This performance has earned it a spot on the Best Under A Billion list for the second straight year. Continue reading on Forbes.

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