EXL targets $1-bn revenue by 2015

Noida-based EXL Service, a business process outsourcing (BPO) services company, aims to become a $1 billion (Rs 4,500 crore) revenue company by 2015.

"We will try and target all our goals towards that," CEO and president Rohit Kapoor told Business Standard on the sidelines of the Nasscom BPO conference.

EXL expects to close the year with revenue of $350 million. "We should be able to do $450 mn revenue next year,” said Kapoor. Presently, Genpact is the only India-centric BPO firm with annual revenue over $1 bn.

To achieve this goal, EXL’s on the lookout for acquisitions to strengthen its presence in banking, financial services and insurance, and healthcare, besides analytics. “We are in dialogue with six to eight companies in the size of $25-50 mn," Kapoor added.

At June-end, it had $80 million in cash and cash-equivalent, plus a bank credit line of $50 mn.

Earlier this year, EXL acquired finance and accounting outsourcing service provider, Outsource Partners International (OPI), for $91 mn. "We have been cautious in doing mergers and acquisition,” said Kapoor. “We did our first acquisition in 2006 and after that we didn’t for several years; we wanted to learn how to integrate assets."

Adding: “We’ve found our ability to identify targets, negotiate these and integrate has become well established.”

Earlier this year, EXL acquired finance and accounting outsourcing service provider, Outsource Partners International (OPI), for $91 mn.