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Infy BPO to ink 4 deals worth $50-150 mn each

Infy BPO to ink 4 deals worth $50-150 mn each
PTI
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First Published: Wed, Jan 16 2008. 04 58 PM IST
Updated: Wed, Jan 16 2008. 04 58 PM IST
New Delhi: Infosys BPO, a subsidiary of IT major Infosys, said on 16 January that the company expects to bag around four outsourcing deals worth $50-150 million each, across various sectors in the next 3-6 months.
The deals would range from various sectors such as telecom, banking and others, Infosys BPO Chief Executive Officer and MD Amitabh Chaudhry told reporters declining to divulge further details.
“We have recently signed small deals worth $5-7 million each and are hopeful of signing 3-4 more deals worth $50-150 million each in the next 3-6 months,” he said.
The firm is also eyeing a revenue of $250 million for the fiscal year 2007-08, he said. It has already recorded revenues of about $176 million dollar in first nine months of FY08.
He said, the company is securing 15-25% on renewed contracts.
The company has been working on integrating the IT-BPO solutions for the last 12-18 months, he said.
Infosys BPO is also betting big on the potential of the knowledge services industry in India, which is fast moving up in the value chain. Besides, it has also started legal process outsourcing.
The effect of the sub-prime crisis in the market will be “positive” for Infosys BPO in the long term, Chaudhry said adding, however, for the short term there could be a possibility of a partial delay in outsourcing.
The firm is well-prepared for any further appreciation in the Indian Rupee against the dollar in the next 15-18 months, he added.
The BPO arm of Infosys would also add 1,000 employees to its payroll in the January-March quarter.
The firm added 2,400 employees in the third quarter ended December 2007. Of the 2,400 employees, 1,400 were added from Royal Philips Electronics from whom the firm had bagged a seven-year, $250-million contract.
It registered an attrition rate 37% in the third quarter, compared to 34% in the second quarter this fiscal. The attrition rate of the voice services was as high as 53%, while the data attrition was maintained at 27%.
NelsonHAll, a leading BPO analyst, has positioned the firm’s securities Process Outsourcing operations in the leaders quadrant in its recent report - Securities Processing BPO Assessment and Forecast - released in May 2007.
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First Published: Wed, Jan 16 2008. 04 58 PM IST
More Topics: Infosys | BPO | outsourcing | deals | banking |