Fraud-hit Satyam Computer Services’s annual revenues appear to be about $1.5 billion to $1.7 billion, three sources who have analysed data provided by the outsourcing firm to bidders said on Thursday.

The number is sharply lower than the $2.14 billion the Indian company had reported for the financial year to March 2008, before the revelation of India's biggest corporate fraud.

"We have analysed the data and feel that this is the revenue level for the firm," said one source, who declined to be named as he was not authorised to speak to the media.

Satyam was plunged into crisis on January 7 when its founder quit as the chairman, saying profits had been falsified for years, revenues overstated and more than $1 billion in cash and equivalents did not exist. A government-appointed board tasked with rescuing the firm decided to sell a controlling stake in the firm, once ranked as India's fourth-largest outsourcer, and appointed Goldman Sachs and Indian investment bank Avendus to advise it. The sources said they were still assessing the profitability of Satyam ahead of finalising bids for a 51 per cent stake.

Bids will be submitted and opened on April 13, and Satyam has said a winner can be announced the same day. As well profit and revenue, bidders need to make an assessment of several uncertainties, including potential legal liabilities arising from lawsuits filed in US by shareholders. Satyam has not reported earnings since reporting July-September numbers in October as its accounts are in the process of being restated.

Meanwhile, the company has had receivables worth Rs 2,000 crore in the January-March period from new and existing clients, its chairman Kiran Karnik said.

"We have had Rs 2,000 crore collections from new work and some of the existing clients over the three months (January-March). Some clients have left but we have got some new work as well," Karnik said.