Executive interim management services firm X-PM Transition Partners has started operations in India and expects to rake in revenues of up to $2 million over the next five years.

Paris-based X-PM Transition Partners along with investor Ranjit Shastri has floated a joint venture ‘X-PM Ltd’ for the India operations.

“We are expecting annual revenues of $1-2 million over the next five years in India. We will be mainly focusing on foreign multinational firms, private equity and venture capital-backed companies,” Mr Ranjit Shastri, a former consultant with McKinsey & Co, told reporters here today.

Mr Shastri has a 70 per cent stake in X-PM Ltd while the rest is held by the French entity.

X-PM offers services to companies in the areas including business restructuring, performance improvement and interim management. It also provides additional management resources to private equity firms.

The X-PM Transition Partners’ President, Mr Patrick Laredo, said that considering India’ growing economy, the firm needs to be “very ambitious” in terms of business prospects in the country.

“We are convinced that India remains a bright spot with a vast economic potential,” he noted.

Mr Shastri said X-PM “quite successfully” completed three projects in India in the last three years and those were in the areas of metal tube, apparel and transformers. The company started serving clients in the country in 2008.

Mr Patrick pointed out the company would look at business operations in the telecom sector in India.

At present, X-PM has a talent pool of about 30 people, who have good experience and managerial skills, in India. “We hope to take this number (30) to 100,” Mr Shastri said.

Apart from those in India, X-PM has more than 350 senior managers globally.

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