Genpact to more than double India revenue this year

India’s largest business process outsourcing (BPO) firm Genpact plans to more than double its India revenues this year and has signed several deals in the past six months in addition to securing process optimisation assignments in healthcare with the central government and Delhi government.

“Genpact will more than double its India revenues this year and we expect it to keep doubling for some years,” said Genpact’s President and CEO Pramod Bhasin. At present, India contributes less than one per cent to Genpact’s revenues. It posted revenue of $273 million (Rs 1,310 crore) for the second quarter ended 30 June, 2009.

As a part of this new focus on the domestic market, the BPO plans to open three to four new service centres in the country for its India-to-India business in the next two years. It recently appointed Harpreet Duggal, a senior Vice President, to lead the business. Each centre will require an investment of around $3-4 million (Rs 15-19 crore) and would be built in tier-2 and 3 cities. The company spends almost $80-100 million (Rs 385-480 crore) every year as capital expenditure. Besides, it also plans to hire 6-8,000 people this year.

For the India market, Genpact will offer finance and accounting, supply chain and procurement, collections and customer service, re-engineering and analytics across verticals like banking and financial services, insurance, telecom, manufacturing and healthcare.

Domestic BPO revenues grew over 40 per cent in FY 09, according to Nasscom and the IT-BPO domestic revenues are expected to grow by 15-18 per cent, to reach Rs 65-67 crore in FY 10.