Exult Sees India As Key Base, To Ramp Up Operations

New Delhi: | Updated: May 15 2003, 05:30am hrs
Nasdaq-listed Exult Inc is in the process of making India a base for its operations in the business process outsourcing (BPO) arena. Exult intends to hire over 1,000 people for its BPO activities focused on human resource (HR) in India.

The company already has a BPO centre in Mumbai and now it is in the process of identifying more locations for additional centres.

In an email interview with eFE, Exult CEO Richard Jones wrote, India has an excellent labour pool and opportunity for infinite growth. We are looking at adding 1000 people in India for our HR BPO activities by late 2004.

The company already has a team of 75 people in its HR BPO centre in Mumbai.

Exult has also partnered with HCL and Hexaware for outsourcing its IT requirements.

We have three centers. Of these two are IT applications centers (managed by HCL and Hexaware) and the third is our HR BPO in Mumbai. We are looking at growing all these, he said. There are around 200 people employed in the IT centres.

We anticipate our IT application management will stay with our partners, Hexaware and HCL. It is also likely that future incremental build contracts could also be placed with them, depending on their future capability and our future requirements - it was conceived this way at the outset, he said in the mail.

The company reported a revenue for the first quarter ended March 31, 2003 at $114.1 million, a 20.1 per cent increase over revenue of $95 million for the same period in the previous year.

According to its website, the increase in revenue primarily reflects the ramp-up of revenue under the Prudential Financial and International Paper Company contracts.

Exult offers HR BPO and affiliated processes (mainly accounts payable) to Fortune 500 companies.

The company entered into outsourcing model with the third party operators under the guidance of neoIT.