Syntel climbs up to Forbes' top small companies list

Syntel climbed up to the 27th spot of 2009 Forbes magazine's "200 Best Small Companies" list, the company announced on Friday.

The knowledge process outsourcing firm and information technology services provider placed 90th on the rankings the previous year.

Companies go through an extensive evaluation to be able to be included among Forbes "200 Best Small Companies." They need to meet short-term and long-term performance metrics such as earnings-per-share growth, profit, sales, stock price and return on equity.

Syntel attributed its rise in the rankings to the strong improvement in EPS and ROE. The company's earnings per share for the Q3 this year was a record and hit $0.73 per share from the previous year's $22.15 million or $0.54 per share.

Its stock performance also boosted its status which is placed on the top 10 in relation to the industry.

Snytel's Pres. and CEO Keshav Murugesh said in a statement that it was honor to have achieved the recognition by Forbes. He added that the company's performance has been a very strong one amid the challenges brought by the economic environment, which reflects on the employees' passion, dedication and talent.

Murugesh also said that the company would continue focusing on their core strengths, which are providing innovative and flexible solutions to enable their customers maximize efficiency and making the most out of their investments in technology.