Sundaram Business to set up BPOs

Sundaram Business Services (SBS), the BPO arm of the Chennai-based Sundaram Finance, will set up BPO facilities in Madurai and Trichy on a total investment of Rs 10 crore. The Madurai facility is to start operations next month, while the Trichy facility is expected to start by the year-end.

"Availability of abundant manpower is the key factor to foray into tier-II cities," TT Srinivasaraghavan, managing director, Sundaram Finance, said. The expansion into tier 2 cities also comes on the back of recent outsourcing order wins in the domestic market.

The 12,000-sft Madurai facility will commence operations with 100 employees and provide policy administration services to one of its life insurance customers. The headcount at the Madurai unit will be scaled up to over 500 over the next 12 months.

The company posted revenues of Rs 25 crore for the first nine-month period of the current fiscal, PS Raghavan, executive director, Sundaram Business Services, said.

SBS offers accounting service, credit processing, deposit processing, employee administration and insurance-related processing services.