FY26 turmoil hits India's small IT firms with mixed results

Zensar overtakes Birlasoft, Sasken crosses $100 million

Zensar Technologies climbed past Birlasoft to become India's 15th-largest IT firm, boosted by banking deals and a big $210 million transformation contract.
Sasken moved into the $100 million-plus bracket after buying Borqs International, which added a big chunk to its numbers.
Overall, changing client needs, especially around AI, and tough market conditions are shaking up who's winning among smaller tech players right now.