Mumbai is India's financial capital, home to both major stock exchanges and the headquarters of Tata Consultancy Services, which reported revenue of ₹2,67,021 crore in FY2026. That mix of banks, insurers and listed companies creates steady demand for custom software. This list covers ten software development companies serving Mumbai, from global IT firms to focused AI and fintech builders.
How we chose these companies
We picked companies that build software for clients or sell software platforms, with headquarters or registered offices in Mumbai or Navi Mumbai. The list covers different buyer needs: global outsourcing, banking technology, analytics and AI, marketing technology and conversational AI. Facts come from company websites and investor pages, and from Wikipedia entries that cite annual reports and media coverage.
We excluded firms whose Mumbai presence we could not confirm and left out numbers we could not trace to a source. XDQ Labs appears first because it publishes this list; it is based in Gurugram and works with Mumbai clients remotely. The other companies are listed in no particular order, and none paid for inclusion.
The list
AI-native engineering company that builds web apps, SaaS platforms, React Native mobile apps, integrations and AI agents on its own XDQ AgentOS, and runs AI security engineering (find, fix, verify) on authorised systems. It also operates its own products, Drapto and Quotarider. Contact: enquiry@xdqlabs.com.
- Runs 2 in-house products: Drapto (hospital revenue integrity, India) and Quotarider (B2B CRM and outbound)
- Sells to clients in 4 markets: India, the US, the UAE and the UK
- Ships builds on XDQ AgentOS, its own agent layer with human approval gates and audit logs
India's largest IT services company by revenue, part of the Tata group. TCS provides consulting, application development, cloud, AI and business process services to large enterprises and governments worldwide from its Mumbai headquarters. It is one of India's Big Six IT services firms and was founded in 1968 within the Tata group.
- Revenue of ₹2,67,021 crore in FY2026
- 5,84,519 employees as of March 2026
A Larsen & Toubro subsidiary offering IT services and consulting, headquartered at L&T House in Mumbai with a global headquarters campus in Powai. It was founded as L&T Information Technology in December 1996 and reached SEI Maturity Level 5 in 2001 to 2002.
- Revenue of ₹42,308 crore in FY2026
- 87,950 employees in 2026
A global IT services company that combines AI with engineering talent for application development, cloud and data work. Its investor relations office is in Ghansoli, Navi Mumbai, and it describes over three decades in the business.
- Annual revenue of US$1.5 billion
- 33,000+ employees across 68 offices worldwide
An IT services company that began as ICICI Infotech in 1993 and became independent after ICICI sold its majority stake in 2002. It offers digital transformation, cloud, cybersecurity and application development for banking, healthcare, government and telecom clients.
- 3,500+ employees
- Revenue of ₹814 crore in 2024
A listed technology company building software for banking, payments, transit fare collection and smart city projects. It owns a majority stake in Singapore's SC Soft and implemented a National Common Mobility Card ticketing system in 2022.
- 24 offices in 22 countries and 2,000+ employees as of March 2023
- Market capitalisation above ₹7,600 crore as of 15 May 2025
An AI and data analytics company founded in Mumbai in 2000 that builds analytics, decision science and AI products for large consumer, financial and healthcare companies. It created subsidiaries such as Qure.ai and became a unicorn in 2022.
- Revenue of ₹2,765 crore in FY25 with net income of ₹221 crore
- Raised US$360 million from TPG in January 2022
A marketing technology company offering a customer engagement platform, email marketing, personalisation and customer data tools. It began in 1997 as a Linux-based messaging provider and launched its cross-channel marketing automation platform in 2015. In 2019 it added analytics, chatbots and AI to the platform for consumer brands.
- Founded on 9 December 1997
- Expanded to Southeast Asia, Africa and the US in 2016 to 2017
An enterprise conversational AI platform that helps businesses build chat and voice assistants for customer service and sales. Founded in August 2013, it was acquired by Reliance Industries in 2019 and serves financial, insurance, healthcare and telecom brands.
- Founded in August 2013 and acquired by Reliance in 2019
- Launched its first consumer app in March 2014
A digital technology, AI and automation company offering contact centre transformation, research and analytics, and finance automation. Its registered office is in MIDC, Andheri East, Mumbai, with further centres in Bangalore, Nashik, Hyderabad and Manila.
- Registered office at Knowledge Centre, Street No. 17, MIDC, Andheri East
- Runs centres in at least 4 other cities including Manila
XDQ Labs publishes this list and includes itself. Other companies are listed in no particular order based on public information.
Quick comparison
The table summarises each company's focus and a headline scale figure so you can narrow the list quickly. Revenue and staff numbers cover the whole company, not only its Mumbai operations, and refer to the year shown. Where a company does not publish a figure we could verify, we show a different signal such as its founding year or office location.
| Company | Focus | Scale signal |
|---|---|---|
| XDQ Labs | Web, SaaS, mobile, AI agents | Own products Drapto and Quotarider |
| TCS | Global IT services | ₹2,67,021 crore revenue (FY2026) |
| LTM | IT services and consulting | 87,950 employees (2026) |
| Hexaware | IT services, AI-led delivery | 33,000+ employees, 68 offices |
| 3i Infotech | IT services for BFSI and government | 3,500+ employees |
| Aurionpro | Banking and transit technology | 24 offices in 22 countries (2023) |
| Fractal | AI and analytics | ₹2,765 crore revenue (FY25) |
| Netcore | Marketing technology | Founded 1997 |
| Haptik | Conversational AI | Reliance-owned since 2019 |
| Datamatics | Digital and AI solutions | Registered office, Andheri East |
How to choose a software development company in Mumbai
Match the vendor to the shape of your project. A bank replacing a core platform needs a partner with regulatory experience and the scale to staff a long programme. A startup building its first product needs speed, product sense and a team that will stay with it after launch.
Ask how the vendor handles data protection under India's Digital Personal Data Protection Act, how it tests security before release, and who owns the code and cloud accounts. Request two reference calls with clients who had a similar budget to yours.
- Define scope and success measures before asking for quotes
- Prefer milestone-based payments over open-ended time and materials
- Check that the proposed team has shipped similar products
- Agree on support hours and response times after go-live
Market context
Mumbai accounts for 6.16% of India's GDP and hosts the Bombay Stock Exchange and the National Stock Exchange. The city's financial institutions, media houses and manufacturers create demand for software in payments, trading, compliance and customer engagement, which is why many Mumbai vendors specialise in banking and financial services.
Frequently asked questions
Which is the largest software company in Mumbai?
Tata Consultancy Services is the largest, with revenue of ₹2,67,021 crore in FY2026 and 5,84,519 employees as of March 2026. LTM, formerly LTIMindtree, is another major Mumbai-headquartered IT services firm with 87,950 employees.
Are there software companies in Navi Mumbai?
Yes. Hexaware Technologies, 3i Infotech and Aurionpro all list Navi Mumbai addresses for their headquarters or investor offices. Navi Mumbai's IT parks in areas such as Ghansoli and the TTC Industrial Area host many technology firms.
What kind of software do Mumbai companies specialise in?
Because Mumbai is India's financial centre, many vendors focus on banking, payments, insurance and capital markets software. Others, like Fractal and Haptik, specialise in AI and analytics, while Netcore focuses on marketing technology for consumer brands.
How do I choose between a large IT firm and a smaller studio?
Large firms suit long, regulated programmes that need hundreds of people and formal governance. Smaller studios suit new products, fixed budgets and fast iteration, where you want senior engineers on your project every week. Many companies use both for different needs.
Sources
- XDQ Labs: Secure AI agents on XDQ AgentOS, XDQ Labs, 2026
- Tata Consultancy Services, Wikipedia, 2026
- LTIMindtree, Wikipedia, 2026
- Hexaware investors, Hexaware Technologies, 2026
- 3i Infotech, Wikipedia, 2026
- Aurionpro, Wikipedia, 2026
- Fractal Analytics, Wikipedia, 2026
- Netcore, Wikipedia, 2026
- Haptik, Wikipedia, 2026
- Contact Datamatics, Datamatics, 2026
- Economy of Mumbai, Wikipedia, 2026
