Gecis is now Genpact

By agencies   |   Wednesday, 28 September 2005, 07:00 Hrs
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NEW DELHI: IndiaÂ’s biggest BPO Company, GE International Capital Service (GECIS) has rebranded it self as Genpact, following a change in ownership from GE to General Atlantic and Oak Hill Partners.

With the rebranding, the company has announced an ambitious plan to cross the $1 billion mark by 2007-08, compared to projected $490 million in the current year.

"We are on track to deliver $490 million in revenues for 2005, which will translate into 25 percent growth rate. We expect to cross $1 billion in annual revenues by 2007-08 through a mix of partnerships, organic as well as inorganic growth, and have a headcount of 30,000 professionals," Pramod Bhasin, President and CEO said.

"Next year, we are going to hire 10,000 employees. Most of the hiring is going to be in India. However, the growth (in hiring) will be faster in China and Romania as the base is small there," he said.

Bhasin also said Genpact wants to acquire small and mid-sized BPOs in the U.S. and Europe with expertise in finance and accounting, healthcare, and insurance domains.

Bhasin also ruled out going public in the near future. "It's too early for us to think of an IPO." Speaking about GE further reducing stake in the company, he said "GE, which currently holds 40 per cent stake in Genpact, has not discussed the issue with us. They may sell the stake one day, but not for at least 2-3 years."

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