But the difference lies in "access". Despite lower turnover, a Cyril Shroff/Shardul/ZIa has real access to corridors of power - judges, ministers, bureaucrats and so on. In that, they end up being gatekeepers. So even if the firm turnsover less than a real estate/cement firm, their access makes them invaluable. In more professionalized markets like USA this isn't the case.
Wow, this was very insightful and enlightening. So our law firm ultimate bosses who pretend like they're deities actually make less money than the biggest construction contractor (Bapi bhaiya) in my city (I live in a tier-2 city).
Man, I feel so small now. Why do we lawyers pretend to be so self-important again? I need to appreciate Bapi bhaiya more.
Kirkland is the highest grossing law firm by revenues at USD 4,155 million (Rs. 31,100 cr). PEP wise Wachtell is highest since it’s smaller at USD 7.5 million (Rs. 56 cr). But Kirkland and Davis Polk despite being big in size are at USD 6.2 million (Rs. 46.5 cr).
Total Indian law firm market is a mere USD 1,350 million (Rs. 10,000 cr). Of this Indian firms have about 65% share USD 880 million (Rs.6,600 cr).
CAM / SAM / AZB / KCO each have revenues around USD 106 million (Rs. 880 cr). This is a mere 2.5% of Kirkland’s revenues. I’m not going into the PEP for Indian firms because equity is shared rarely and shared generously even more rarely outside the family so the list of EPs is not a true reflection of their hard work, brand name and the business brought in.
Indian law firms are too small and insignificant in the global context. Even in Indian context, a sub 1000 cr revenue business is not huge. Market leaders of most industries such as TMT, BFSI, Real Estate are much bigger.
With KCO having what, some 800+ lawyers and revenues around INR 600+ crores (at least that is what was shared on LI sometime back) the revenue in terms of USD will only be around USD 80mn :|
Compare that with an Int'l law firm. With almost 900+ lawyers Davis & Polk had revenues of USD 1.4bn (these are 2018 figures, must be higher now). USD 1.4bn!!! Even though there is no huge difference in terms of the number of lawyers that KCO has.
80mn vs 1.4bn!!
Somebody please throw some light on how much revenues do Indian firms generate man
The ship you're jumping needs to be willing to take you on board lol
880 crores for CAM SAM KCO Trilegal et al vs 31,100 crores for Kirkland??
Wow that's just sad. Time to start thinking about jumping ship to foreign firms
Man, I feel so small now. Why do we lawyers pretend to be so self-important again? I need to appreciate Bapi bhaiya more.
Total Indian law firm market is a mere USD 1,350 million (Rs. 10,000 cr). Of this Indian firms have about 65% share USD 880 million (Rs.6,600 cr).
CAM / SAM / AZB / KCO each have revenues around USD 106 million (Rs. 880 cr). This is a mere 2.5% of Kirkland’s revenues. I’m not going into the PEP for Indian firms because equity is shared rarely and shared generously even more rarely outside the family so the list of EPs is not a true reflection of their hard work, brand name and the business brought in.
Indian law firms are too small and insignificant in the global context. Even in Indian context, a sub 1000 cr revenue business is not huge. Market leaders of most industries such as TMT, BFSI, Real Estate are much bigger.
Compare that with an Int'l law firm. With almost 900+ lawyers Davis & Polk had revenues of USD 1.4bn (these are 2018 figures, must be higher now). USD 1.4bn!!! Even though there is no huge difference in terms of the number of lawyers that KCO has.
80mn vs 1.4bn!!
Somebody please throw some light on how much revenues do Indian firms generate man