Blue Star Infotech improved its ranking by 18 notches largely due to growth in assets and better ROCE. The Mumbai-based company reported 22% higher sales at Rs. 63.49 crore and 37% higher net profit at Rs 16.86 crore. On a lower base, its gross block was up 66% to Rs 13.63 crore whereas its ROCE improved from 38.09% to 47.91%. It is ranked #13 in sales growth, #12 in profit growth and #3 in ROCE. The company provides software services through its divisions: Global Research & Development, Business Application Practice, Consulting Services Practice, Banking, Financial Services & Insurance and System Integration Practice. It has software development centers in Mumbai, Bangalore and Kuala Lumpur, and offices in the US, Canada and Europe. Blue Star Infotech currently operates six dedicated offshore development centers.