- Deloitte India is on fire!
- The Big 4 giant achieved the ₹10,000 Crore revenue mark in FY2024…and isn’t hitting the brakes.
- Their next target? A bold push to ₹20,000 crores by 2027!
What is happening?
In 2023, Deloitte, EY, KPMG, and PwC in India collectively surpassed ₹32,700 crore!
Here’s the scoop: Deloitte India hit a major milestone in FY2024, crossing ₹10K crore in revenue with a dazzling 30% growth rate—making it the fastest-growing Big 4 firm in India, as first reported by The Economic Times.
Hot on the heels of EY’s ₹11,500 crore from FY2023, Deloitte is now the second firm to reach this impressive figure. The race is on, and the numbers are skyrocketing!
Key areas driving growth
Consulting business: Deloitte’s management and technology consulting business has become the largest domestic consulting practice in India, surpassing all other local competitors.
Exceptional growth, clocking a 45% increase.
Risk advisory: This business grew by 35-36%.
Also read: Big 4 India Inside Scoop: Appraisal, Benching, Hiring
What is Deloitte next revenue goal?
Deloitte India has set an ambitious target to double its annual revenue to ₹20K crore by 2027, potentially even reaching this milestone by 2026.
Announced by Romal Shetty, Deloitte’s CEO for South Asia, this bold goal is part of their plan to claim the top spot among the Big Four in India.
Shetty’s got his sights set on replicating Deloitte’s global dominance right here, turning the firm into the reigning champ of professional services in the country. Game on!
Plans to achieve this growth?
Doubling down on consulting and risk advisory
- To reach the ambitious target, Deloitte is focusing on expanding its consulting and risk advisory services.
- “We’ve doubled down on sectors like financial services and government, and invested in new sectors like semiconductors and space.”
Strengthening presence in Tier 2 cities
- Deloitte India is focused on expanding into tier II cities to access new talent and grow its presence.
- They’ve set up centers in Bhubaneswar and Coimbatore, with Coimbatore already surpassing 1,000 employees.
Investment in technology and innovation
- In the last two years, Deloitte has invested in a tech center in Bengaluru and created a 200-member innovation team.
- On April 4, 2024, they announced a $2 billion investment to enhance industry-specific tech and workforce development.
Also read: Big 4 India Partners jumping from one firm to another: High alert as Partner poaching surges
How is this ambitious plan going to affect hiring?
The firm has already established a significant presence in India, with a workforce of approximately: 120,000 employees of which 700 are Partners.
This number represents nearly 25% of Deloitte’s global workforce.
The firm now employs about 19,000 consultants and over 200 partners and executive directors in its consulting division.
To top it all, in 2023, CEO Romal Shetty announced Deloitte’s plan to hire 50,000 people in the next 5 years.
Also read: EY, PwC, Deloitte surpass 3,300 Partners. EY added 1000+ new Partners
Next stop: $5 Billion revenue by 2030
Looking ahead, Deloitte India has set a new aspiration to reach $5 billion in revenue by 2030.
With a focus on strategic accounts and a growing client base, Deloitte is well-positioned to achieve its ambitious growth targets.
Source: The Economic Times
So average revenue is mere ₹9.5 lakhs? (₹11.5k cr by 1.2 lakhs emp)
How are they paying salaries with such low productivity?
Fyi, average revenue of infosys is about ₹43 lakhs and infosys average expenditure is ₹25 lakhs. Most of ₹25 lakhs should be salaries.