Monday, January 14

Genpact open to acquisitions in India, overseas

KOLKATA: Business processing outsourcing major Genpact Ltd has said it is open to acquisitions in India and abroad, and was evaluating such opportunities at present. "We are open to acquisitions and focus markets would be India, US and Europe," Genpact President and CEO Pramod Bhasin said. However, he did not divulge details on the acquisition plan. Genpact has operations in 30 locations in nine countries including US, China, Hungary, Philippines and Romania. Besides inorganic route, the company's growth plans through organic means was optimistic as 75 per cent of the revenue at the end of quarter three was from the India operations. "We are looking at a growth of 25-28 per cent both in terms of revenue and headcount," Bhasin said. Company's Q3 revenue was $214.6 million, growing by 32 per cent over the same period last year. The current global employer strength of the company was about 32,000, of which 24,000 was in India. Genpact was expanding its domestic operations. "We will continue to expand in tier I and tier II cities," Bhasin said. The New York Stock Exchange-listed company also said it has acquired a seven lakh sq ft facility in Kolkata to develop a mini-campus, which would eventually be able to house an additional 7,000 employees. The investment for the new Kolkata facility would be around Rs 200 crore. Genpact was recently allotted 12.45 acre by Orissa, 50 acre by Andhra Pradesh and 25 acre by Rajasthan.


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