Progeon to open center in China

By agencies   |   Thursday, 13 October 2005, 19:30 IST
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BANGALORE: Progeon, the BPO arm of IT major Infosys Technology Ltd plans to open a center in China and which is likely to be operational the next financial year. Announcing the company’s CEO and Managing director Akshaya Bhargava said: “The China center will cater mainly to our existing global clients. We don’t have any plans to tap local market.” Progeon plans to handle accounting, book-keeping and human resource work for clients. He said, right now the company has three customers in the pipeline for the China center but decline to comment more on it. The center would be a part of the Infosys campus in China, he added. Recently, Infosys announced a major expansion plan for China where they are going to hire about 5,000 people over six years. The BPO arm of the IT giant had recently opened its third center in Jaipur, which can accommodate up to 2,000 people. Apart from Bangalore and Pune the company also has a center in the Czech Republic. For the second quarter of the current financial year Progeon reported a net profit of Rs 23.2 crore on revenues of Rs 90 crore. “The YoY-basis the profit growth of 25.6 percent was the highest in the industry,”Bhargava claimed, adding the order pipeline for the coming quarters was strong. However, the company did not add any new clients during Q2-06. The company's client base stands at 19, he said. During the second quarter the company added about 554 people taking its overall headcount to 5,293 people.