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With revenues more than one and half times that of the next firm in the list, Genpact has very little threat to its leadership position. Its challenge, hence, was to meet some internal metrics: share of non-GE revenue being on top of the list. In the JFM 08 quarter finally, the much-awaited reversal happened with the contribution of non-GE clients surpassing that of GE. Operating profits improved marginally, revenue per employee went up by close to 7%.

Genpact continued the strategy of going after potentially large clients and growing those accounts, with more than twenty contributing $5 mn annualized revenue on March-end. In fact, close to 80% growth for the company came from existing clients, even though it kept adding new clients.

The most notable event in the year was Genpacts listing in NYSE in August 2007. Offered at a price of $14 per share, the stock was quoting at around $13 after one year, though in a relatively bad market.

RANK 1
	Pramod Bhasin, president & CEO
Tiger Tyagarajan, EVP, Business Development, Vivek Gour, CFO Piyush Mehta, head, HR Walter Yosafat, CIO Mitsuru Maekawa, CEO Asia Patrick Cogny, CEO, Europe Juan Ferrara, head, America Operations Tajinder Vohra, Business Leader Anju Talwar, Business Leader Rakesh Chopra, Business Leader Mudit Saxena, head, Quality
HIGHLIGHTS
n Got listed on NYSE in August 2007 n Increased the non-GE revenue by more than 90% n Started focusing on India as a market, already bagging a few contracts n Has issued a guidance of 25-27% growth in 2008
FACTSHEET
l Start-up Year: 1997 l Delivery Facilities: 33 locations in nine countries (India, China, Hungary, Mexico, the Philippines, Netherlands, Romania, Spain, and the US). India locations are in Gurgaon, Delhi, Hyderabad, Jaipur, Bangalore, Kolkata and Bhubaneswar l Address: DLF City, Phase-V, Sector 53, Gurgaon-122002 l Tel: 124-402-2000 l Fax: 124-402-2205 l Website: www.genpact.com l Employees: 34, 300

Genpact acquired Axis Risk Consulting, an advisory firm in the GRC (governance, risk and compliance) arena and added Romania to its delivery network, even as it started building its SEZ in Bhubaneswar in Orissa. Guatemala is the next stop for the company.

Genpact, which started talking about its IT services the previous year, and acquired a European SAP provider ICE Enterprise Solutions, launched two IT offerings in the SAP space. While its IT business from GE is largely on infrastructure side, it is aggressively pursuing the SAP consulting space.

So far, Genpact has leveraged its size (an inheritance), while building depth and quality of execution and a solid globally delivery networkall three among the most important competitive advantages for services players traditionally.

But is that enough? While playing by these rules can still deliver good near term growth, new players are innovating far quickly and creating opportunities in areas where the large players saw nonelike, say, profitably growing the mid-tier firms, as against the Fortune 1000. Can Genpact still play by the established rules, however well, and retain its position and, more importantly, influence?

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