• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Port Info

• Ships in Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Moumita Bakshi

Our clear focus is to grow our business and profitability, build on our extensive range of products and services and deliver the highest level of quality.

Mr Pramod Bhasin

New Delhi , May 1

BUSINESS process outsourcing company GECIS expects to double its revenues to $1 billion by 2008 from less than $500 million in 2005, and is looking at acquiring `niche businesses' both in India and overseas.

"Our industry is tiny compared to the global market opportunity. The Indian outsourcing industry is only about $3-4 billion compared to the $200-billion global market. GECIS hopes to hit $1 billion in revenues by 2008, from just below $500 million of revenues in 2005," Mr Pramod Bhasin, President and Chief Executive Officer of GECIS, told Business Line.

He said the rise in revenues would come from organic growth as well as potential alliances and acquisitions. "While we cannot provide any details on specific acquisitions, we are definitely looking to acquire niche businesses both in India and overseas," he said.

GECIS' current business is predominantly GE-related work (92 per cent), but the company sees its revenue mix changing. "I think this proportion will change in a few years to 25 per cent non-GE work and this trend will continue. GE business is also expected to grow throughout this period," Mr Bhasin said.

"The key areas, where we believe we have strengths, are finance and accounting, high-end analytics, collections, insurance and software as well as healthcare, industrial, energy and transportation. We already have experience in each of these industries based on GE's businesses," he added.

Asked if the company had any plans to get listed, Mr Bhasin said, "We have no plans for an initial public offering (IPO) at present Our clear focus is to grow our business and profitability, build on our extensive range of products and services and deliver the highest level of quality. If we do these things well, an IPO would happen at the right time — but we have no current plans."

In November last year, US manufacturing and energy giant General Electric Co decided to sell 60 per cent of its global outsourcing business for $500 million to two US investment companies — General Atlantic Partners and Oak Hill Capital Partners. GE had been among the first American companies to set up business processing outsourcing operations in India.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
GECIS eyes `niche' acquisitions
Plans to double revenues; IPO not in near future

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line