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Chennai, July 5 Sundaram Business Services Ltd (SBS) has picked up 74 per cent stake in Professional Management Consultants (P) Ltd (PMC), a Chennai-based BPO, for an undisclosed sum.

The remaining stake will be acquired in phased manner, according to Mr P.S. Raghavan, Executive Director and Head, SBS.

With this acquisition, SBS, the BPO arm of Sundaram Finance Ltd, will double its employee headcount to 1,600 and add 25,000 sq ft of space in Chennai. PMC, with a revenue of Rs 7 crore, offers services to banking and financial service companies in India.

It will become a subsidiary of SBS but retain its name for some time. Its senior management team will come on the SBS board, Mr Raghavan said.

SBS reported revenue of around Rs 17 crore for the fiscal ended March; the combined entity will see 40 per cent growth, he added.

Mr T.T. Srinivasaraghavan, Managing Director of Sundaram Finance, said: “This is in line with our stated intent of looking at inorganic growth to complement our existing capabilities.In PMC we saw both a business and a cultural fit and this acquisition will considerably strengthen our ability to offer services across the entire spectrum of the BFSI space.”

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