Speaking to The Financial Express, Godrej group chairman Adi Godrej said that the group would more than double its existing investments of Rs 20 crore across various BPO verticals over the next 12 months.
Is the group playing the role of VC (venture capitalists) In some cases, our role is akin to that (VC), in others we are playing a far more active role, said Mr Godrej.
He added that the groups investment focus would be in BPO verticals like travel, medical transcription, and accounting back office.
Mr Godrej ruled out any immediate plans to implement any new diversifications like in the arena of bio-technology.
He hoped that the combined group turnover, including that from 10 big companies in the soaps, chemicals and home appliances businesses, would grow between 10 per cent and 15 per cent to Rs 4500 crore in 2003-04.
The Financial Express had reported last month that Godrej Group was looking out for acquisitions in the BPO sector.
The group has founded Godrej Global Solutions Ltd to spearhead its entry into the fast growing BPO space. It had acquired a stake in CBay Systems of the US and Compas Connections of the UK.