Quess Corp

Hiring in the IT services sector has remained stagnant over the past six to seven quarters, with no active demand likely to pick up in the second quarter either, a top official from staffing firm Quess Corp has said. Quess Corp ED and CEO Guruprasad Srinivasan told PTI that demand for technology talents is coming from global capability centres and non-IT companies. "At least for the last six to seven quarters. And we are also not seeing very active demand coming in, even in Q2 as well. So, IT services being a bit muted or dehiring happening, there has been no impact on Quess," he said. He added that 73 per cent of staffing demand for the company comes from non-IT and GCCs, where demand for the technology talent pool is high. "Skills for AI, cloud, and cybersecurity kind of profile are high in demand. On average, the wage in itself is about Rs 1.25 lakhs. It's a high margin for us. When it comes to margin, it's about 15 to 18 per cent," Srinivasan noted. Quess Corp has posted a 4 p

Digitide Solutions share price was under pressure today after the company posted a weak set of results in the March quarter of FY25 (Q4FY25).

The new business line, named Origint, will provide end-to-end services to help GCCs set up, scale, and operate high-performance centres across India and key international markets

The shareholders of the demerged company will be entitled to receive fully paid-up equity shares of ₹10 each of Digitide Solutions Limited and Bluspring Enterprises Limited

Shareholders will receive one equity share in each resulting company for every share held in Quess Corp, with the demerger expected to enhance operational efficiency, unlock shareholder value

Global e-commerce giant Amazon on Saturday sold shares of business services provider Quess Corp for Rs 46 crore through an open market transaction, while promoter billionaire Prem Watsa promoted Fairfax Capital increased its holding in the company. US-based Amazon, through its investment arm Amazon.com NV Investment Holdings, offloaded 7.54 lakh shares or 0.50 per cent stake in Bengaluru-based Quess Corp, as per the bulk deal data available on the BSE. The shares were disposed of at an average price of Rs 610.20 apiece, taking the transaction value to Rs 46.03 crore. Meanwhile, Fairfax Financial Holdings' affiliate Fairbridge Capital (Mauritius) and Ajit Isaac (Chairman of Quess Corp), the two promoters of Quess Corp, increased their holdings, by picking up an additional 3.77 lakh shares of the company each. "Pursuant to Sebi (Listing Obligations and Disclosure Requirements) regulations, 2015, we would like to inform that Fairbridge Capital (Mauritius) Ltd has purchased 3,77,218 ..

Strategic investments in upskilling will remain pivotal as the workforce adapts to increasing demand for AI, cybersecurity, and cloud computing

With rapid urbanisation in India and rampant growth of Global Capability Centers (GCCs) in the country, Quess is expected to experience strong momentum in the BFSI, manufacturing, and telecom sectors

The property is located in the southern suburb of Koramangala in Bengaluru, popularly known as billionaire street. Flipkart co-founder Sachin Bansal is among its residents

Quess Corp announced that its board of director plans to undertake a three way demerger of its diversified business segments, resulting in three listed entities with dedicated presence.

Business services provider Quess Corp has reported 79 per cent year-on-year jump in profit after tax at Rs 70.95 crore for the second quarter ended September 30, riding on operational efficiencies. The company had reported a profit after tax (PAT) of Rs 39.62 crore in the corresponding period of the previous fiscal. Total revenue of the company grew 11 per cent to Rs 4,748 crore, from Rs 4,273 crore in the year-ago period, a company statement said. "This growth is due to focused efforts over the last few quarters in developing greater automation in our platforms, building operational efficiencies and focusing on high margin businesses," Group CEO Guruprasad Srinivasan said. Srinivasan further said the higher margin platforms, GTS and OAM have delivered a consistent increase in profitability along with improvement in margins over the last few quarters. The listed subsidiary, AllSec has surpassed a market cap of Rs 1,000 crore with a CAGR (compound annual growth rate) of 23 per cent

A Quess report finds upward hiring trends in India's IT hubs as well as Tier I & II cities as remote work options become available in Q1FY24

Leading business services provider Quess Corp has reported a 29.41 per cent decline in profit after tax at Rs 48 crore for the June quarter. The company's profit after tax stood at Rs 68 crore in the corresponding quarter of the previous financial year, a company release said. It reported a revenue of Rs 4,600 crore in the first quarter of the current fiscal compared to Rs 3,979 crore in the same period of the previous financial year. "We are pleased to report revenues of Rs 4,600 crore, up 16 per cent year-on-year backed by 15,000+ headcount, totaling up to an overall headcount of 5.25 lakh," Quess Corp Executive Director & Group Chief Executive Officer Guruprasad Srinivasan said. "Around 35 per cent of the associates who joined us in Q1 entered the formal workforce for the first time. We acquired 183 new customers, setting us up for growth over the next few quarters," Srinivasan said. Further, he said in product-led businesses, investment continues in people, technology and ...

Informal sectors employees prioritise factors such as prestige, career potential and security over wages today, adding that technology has helped raise awareness of formal employment benefits

It was followed by BFSI and e-commerce industries with 16% rise in their headcounts

The fall in job demand was noted in delivery and driver, BPO and customer care, and data entry roles

They wanted health benefits and formal job agreement over money in their jobs

60 per cent of all the grey and blue-collar hires were "freshers" with a prior work experience of 0 to 3 years: Billion Careers

The firm aims to become the top player in India' compliance segment; currently has 1,700 employees and over 1,750 clients across 25 states

But valuations have turned attractive after sharp corrections since January