BPM firm Hinduja Global Solutions today said it has doubled business in the domestic market with the acquisition of Mphasis adding another Rs 160 crore revenue in the last one year.
“It (the acquisition of Mphasis) doubled up the business in India’s domestic space. We had Rs 160 crore and this added another Rs 160 crore in one year,” he told reporters here.
The company last June 30 acquired a ‘significant portion’ in Mphasis’ BPO business for Rs 17 crore.
Sarkar said the company has met all the terms of strategic purposes of acquisition by adding new clients, people and setting up new centres and was building a new centre in Pune.
To a question, he said they added seven telecom clients and many others pertaining to the financial sector.
“We had one telecom operator. We cannot take their names. We added another seven telecom clients. We had also added many clients linked to the financial sector,” Sarkar said.
He said the acquisition has given them the capabilities to service the North Indian languages, which was a significant missing piece in its network.
Sarkar said that before the acquisition, they were strong in the South and had some presence in West and Eastern parts of India. “We did not have presence in North. This has given us the capabilities to service the north Indian languages with centres in Delhi, Noida, Raipur and Indore, where a lot of Hindi-speaking population exists,” he said.
“It was a significant missing piece in our network and we have accomplished that with this acquisition. This has helped us service one e-tailer…,” he said.
In a statement last year,the company had said it acquired Mphasis to strengthen its presence in India by adding newer service capabilities and marquee clients in telecom and banking and financial services (BFS) verticals while bringing in over 7,000 customer experience professionals.
It had also said it would add seven delivery centers in 6 cities – Noida, Raipur, Indore, Mangalore,Pune and Bengaluru.
When asked about ‘disruptive’ entry of Reliance Jio in telecom space impacting businesses of its clients and subsequent effect on the company, Sarkar said it is good news for the company as it believed there will be a big war to defend the market share.
“I believe there will be a big war out there to defend market share and that is good news for us, and we are hoping that it translates into good news for us, but still it is a little early for us to make any predictions. We are waiting with a bated breath as to how this thing pans out,” he said.
Asked to clarify on the earlier statement in August that the company is yet not out of woods in Canada, Sarkar said,
“That one contract we fixed it. The new commercial terms were agreed upon in Q4 of last fiscal.”
“Yes (we have started to get revenues). Revenues we never lost. (Only thing), it was not doing at competitive price.”