Financial Daily from THE HINDU group of publications
Tuesday, Aug 06, 2002
Corporate - Outlook
Goldstone sees Rs 45-cr from BPO foray
V. Rishi Kumar
HYDERABAD, Aug. 5
GOLDSTONE Teleservices Ltd, the Hyderabad-based telecom products and solutions provider, has projected business of Rs 45 crore from its foray into IT-enabled services.
The company is in the process of establishing an international call centre in Hyderabad and the project is at an advanced stage of implementation. It is slated to begin operations later this year as the company has firmed up commitments from some of the US customers.
The Goldstone board, which met here last week, to take stock of the financial performance, has projected significant growth for the company from this BPO foray.
Based on the business portfolio of Goldstone Teleservices Ltd, the revenue projections for the financial year 2002-2003 are likely to be in the range of Rs 45 to 50 crore as against Rs 17.52 crore last year.
The telecom market in the country is fast changing and is heading towards becoming a wireless one compared to the wired technologies already in place. This has necessitated the company to initiate the process of diversification into related business adding new portfolios.
The company continues to look at business opportunities for expansion and diversification in the related area in view of its strong financial position, according to Mr J.A. Rao, Director of Goldstone.
It may be recalled that the company had announced it had changed the accounting policy and adopted April to March as its financial year as against its earlier July to June year.
The BPO business foray is to be taken up in a phased manner and in the first phase, which is set to start operations shortly, a 200- people facility has been completed where the company will invest about Rs 10 crore.
The company has charted out a perspective plan that will involve a bigger outlay and a facility to host about 2,500 people for a large call centre management facility.
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