Offshore services firm Genpact Ltd has been ranked the leader in terms of revenues, among all the third-party, back-office firms for 2006-07, followed by WNS Global Services (P) Ltd. Transworks Information Services Ltd came in third, moving up 12 slots from last year, according to software lobby National Association of Software and Service Companies, or Nasscom.
“We are pleased to be there as the ranking shows who’s doing what. We were No. 1 earlier and are still there,” said Pramod Bhasin, president and chief executive officer for Genpact. The company’s revenues stood at $615 million in 2006.
The top three positions were followed by IBM Daksh Business Process Services Pvt. Ltd, the BPO arms of Tata Consultancy Services Ltd and Wipro Ltd, and Firstsource Solutions Ltd. The list, however, does not include companies having India-based delivery capabilities with corporate headquarters located outside India, as they have not shared their India-based revenue numbers.
In fiscal 2007, the ITES-BPO segment grew by 33.5%, contributing $8.4 billion to the total software and services exports of $31.4 billion. Steady growth seen across finance and accounting, customer interaction services and human resources administration.
The employee base in the segment grew to 550,000 in fiscal 2007 from from 410,000 the previous year.
“We expect segment revenues to grow at around 30% next year, to clock exports of $10.5-11 billion in FY08. We expect on-going momentum in the domestic market considering the large addressable market that it offers,” said Kiran Karnik, president of Nasscom.
The domestic market for ITES-BPO grew to $1.2 billion in 2006-07 from $0.9 billion the previous year, illustrating a significant increase in demand.