Sanjiv Goenka open to more acquisitions in IT space

Says aiming for more in IT space, but not before the ongoing operational restructuring exercise for the next two quarters

After steering BPO company Firstsource Solutions Ltd to new heights, the diversified RP-Sanjiv Goenka Group is aiming for more acquisitions in the information and technology space.

"We are aiming for more in IT space, but not before the ongoing operational restructuring exercise for the next two quarters. And once that is done, we will definitely look for more acquisitions," Goenka told reporters here.

RP-Sanjiv Goenka Group flagship firm CESC Ltd acquired the controlling stake in highly indebted Firstsource Solutions in October 2012.

The group was targeting IT for a bigger role in future and was aiming for 25-30% revenue from IT space within FY'16.

Goenka said the acquisition offers would be evaluated keeping in mind the group's philosophy to keep debts low.

Firstsource had pared debt to bring down its debt equity ratio to 0.3:1 from 1:1 two years before.