EXL to invest $10 mn in India

EXL to invest $10 mn in India
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First Published: Sun, May 11 2008. 11 49 AM IST
Updated: Sun, May 11 2008. 11 49 AM IST
PTI
New Delhi: Business process outsourcing firm EXL Services Holding today said it will invest $10 million in India and is also planing to expand its operations in Eastern Europe and Romania through acquisitions.
“Eastern Europe continues to remain a high priority for us and we are planning to expand in Eastern Europe through acquisitions,” EXL Service Holdings president and CEO Rohit Kapoor said.
The company has earmarked a total of $20 million for expansion plans this year, of which, 50% has been set aside for India, he added. The company is planning to start a new centre in Latin America by 2009.
EXL had already started their first delivery centre overseas in Phillipines this year. The firm which announced its Q1 results recently, said it had not been impacted by the recession in the U.S. economy.
“Despite the economic slowdown, we have not observed any related impact on demand. The interest levels by clients and prospects in our space continue to be high,” he said.
However, the sales cycle remains considerably long and there would continue to be a fair amount of lumpiness in our new business acquisition on a quarter-on-quarter basis, he said.
The Nasdaq-listed firm’s profit grew by 26% for the first quarter ended 31March, 2008 to $6.8 million.
Unlike the past several quarters where outsourcing services were the primary driver of our revenue growth, this quarter our transformation services businesses, including research and analytics and six-sigma-based process re-engineering services led EXLs revenue growth, he said.
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First Published: Sun, May 11 2008. 11 49 AM IST