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Re-branding itself as Genpact, global outsourcing company
Gecis Global announced that it expects to cross the $1 bn mark in annual
revenues by 2007-2008 and have a global workforce of 30,000.
The company expects to grow at 25% this year and would
maintain and accelerate that pace in future.
"We expect to close the calendar year 2005 with $490 mn
in revenues and a little over $82 mn in earnings before interest and taxes. We
expect to pass the $1 bn mark in annual revenues by 2007-08 through a mix of
partnerships, organic as well as inorganic growth," said Pramod Bhasin,
president & CEO, Genpact.
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Pramod Bhasin,
president & CEO, Genpact |
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"Since selling 60% of its stake to two private equity
firms, General Atlantic and Oak Hill, Genpact has received orders worth $160 mn
from more than a dozen new customers," he added.
Giving the rationale as to why the company chose the name
Genpact, Bhasin said, "We chose it because it so aptly communicates our
brand promise-generating value, commitment, partnership and impact. The name
communicates our value proposition around business impact -that we drive
process improvements to help global enterprises improve their revenue, cash,
costs, margins, speed and customer relationships. It also communicates our GE
heritage." The company's tagline is Global Business Impact.
Bhasin said that the bulk of the hiring would be done in
India and the company might have 10,000 employees in India next year. Genpact
has added a facility in north Delhi and another one might come up in a southern
location like Kochi. Globally, the company is looking at some parts of Europe
and Africa for its expansion.
He added that the company foresees revenue potential of more
than $500 mn from orders received this year. Replying to a question on Genpact's
plans for filing for an IPO, Bhasin said, "At this point of time we are not
looking at an IPO. We want to concentrate on increasing revenue and building
strong diverse base of customers."
CyberMedia News Pramod Bhasin,
president & CEO, Genpact
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