Lionel India currently owns a 10% stake in GET Global which may go up later depending on how the brand fares in India. GET is one of the largest travel management companies in the world.
Lionel India director and CEO Gaurav Sundaram told reporters here that corporate travel represents the second highest expense for multinational corporations worldwide and the same is reflected in their Indian operations.
"GETs combined technological resources and travel consultative expertise potentially reduces a companys annual global travel expenditure by about 30%," Mr Sundaram said.
To tap the potential corporates in India, GET India will soon be offering consultative services. The company is also carrying out a feasibility study to set up a call centre and a business process outsourcing (BPO) unit by end 2005.
Mr Sundaram added that the company has not yet decided the location of these two centres but it will be decided shortly. "We wont set up the projects from scratch. We will either buy out a facility or get it leased. Whatever happens, we will be managing the facilities ourselves and not let others do the job for us," Mr Sundaram said.
Lionel India currently has a turnover of Rs 100 crore and the company is optimistic that on joining forces with GET Global, it will report a topline growth of 50% during the current fiscal itself.
The company will also set up a portal to assist its 125-odd corporate clients.