Mishcon de Reya makes its debut into the top 50 this year after an impressive period of growth that has put it on track to beat its three-year revenue target by some margin.

The firm's 19% turnover hike to £73.1m during 2011-12 puts it nearly £2m ahead of its original target of £71.5m for this point in time – two years into a three-year strategy setting out an £80m turnover target by 2013.

The figure does not include additional revenues from its New York office, a separate limited liability partnership, which is on track to reach $9m-$10m (£5.8m-£6.4m) in turnover at the close of the 2012 calendar year.

The revenue figure could come in higher if a number of the office's conditional-fee based cases close successfully.

Mishcons – which is led by managing partner Kevin Gold (pictured) – attributed its 2011-12 growth to further investment, with seven lateral partners including Michael Stutman, who joined from Mayerson Stutman Abramowitz in November last year to launch a US family practice in New York.

The litigation practice in particular has been a standout performer after the firm won roles on a number of major cases including the high-profile battle against Commerzbank over €50m (£40m) in unpaid bankers' bonuses that saw Mishcons' client – a group of former Dresdner Kleinwort bankers – winning the case in May.

Mishcons board member James Libson said: "We knew that we are pretty good at forecasting and that we would reach our target this year, but to beat it was fantastic.

"We also knew that the first two years of the plan would see higher growth than the third because capacity reasons mean we cannot invest in hires, for example, with the same momentum.

"But in light of the growth this year, we expect that our final £80m prediction for 2013 might be slightly higher now."

Given the firm's performance so far, it would take a brave man to bet against that.