Mundra bounces back in Delhi market

After facing rough weather for nearly two years in which it saw over 80 per cent of its work force leaving and businesses worth Rs 160-180 crore going to rivals, Mudra Delhi this year has clawed back into reckoning. It has clocked revenues of Rs 20-25 crore for 2007-08.

This has pushed Mudra among the top-five ad-agencies in the Delhi region. Mudra, according to industry sources, is now ranked after JWT, Ogilvy, Rediffusion and Lowe.

And this is not all. It has also managed to attract over 100-people to work on a dozen clients including Wrigley, Phillips, Volkswagon, Dhara, Emami, business of various Times Internet ventures, and HBO, among others. Currently, the agency is talking to at least six-seven new clients that may bring in additional business of over Rs 30-40 crore.

Mudra Delhi is among the top offices of Mudra Group in the country. It competes for business with rival agencies like JWT, Ogilvy, Lowe, Rediffusion among others.

According to an industry source, Mudra Delhi saw an exodus of its workforce from all departments in 2005 and 2006 after it lost some big-ticket clients like Samsung, Yamaha, McDonalds and Electrolux. At the end of 2005, the Delhi office of Mudra had only a handful of employees down from about 120 people a few months ago. But today, again there are about 100 people working for the agency. Its revenues are up from early single-digit to Rs 20-25 crore, while its annual billings have gone up to Rs 130-140 crore, industry source said.

Explaining the loss of business and its workforce two years ago, Sandeep Vij, president (North and East), Mudra said: "Clients tend to leave their agencies for three reasons