The Hindu Business Line : Allsec plans to hike headcount

ALLSEC Technologies Ltd, a Chennai-based contact centre and business process outsourcing service provider, plans to add 1,200 to 1,500 employees here in the next eight months. By this fiscal ending March 31, 2006, it plans to have a total of 3,000-3,300 employees.

The company added around 500 employees in the last three months taking the total strength to 1,800, the Founder and President, Mr Adi Saravanan, told newspersons.

Allsec, which also provides voice-based BPO services, will inaugurate its 1,000-seat facility built at a cost of Rs 38 crore on Saturday. The company used funds from the recent initial public offer, from which it raised Rs 42.5 crore. It is also exploring options to open a centre outside India, he said.

Allsec made a net profit of Rs 11.86 crore on revenue of Rs 57.56 crore for year ended March 31, 2005.

When asked about the sale of shares in the company by Kotak Mahindra Venture Capital Fund in the last few days, Mr Ramamoorthi Jagadish, Co-Founder, Allsec, said that while Kotak Mahindra Venture was selling the shares, Kotak Mahindra's mutual fund could have bought a major chunk. Kotak Mahindra Venture sold over 6 per cent stake in Allsec in the last few days. As on July 19, the fund's shareholding in the company was 9.93 per cent, according to information available in the National Stock Exchange.

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