Financial Daily from THE HINDU group of publications
Saturday, Aug 02, 2003
Financial Daily from THE HINDU group of publications Saturday, Aug 02, 2003 |
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IT-enabled Services Info-Tech - Mergers & Acquisitions Hindujas buy Philippine call centre unit Abhrajit Gangopadhyay
Bangalore , Aug 1 THE Hinduja group has bought a 930-seat call centre unit — Customer Contact Centre Inc, for an undisclosed sum from Manila-based Benpres Holdings Corp. Benpres, in a statement to the Philippines Stock Exchange, disclosed that it had sold its call-centre unit to Hinduja Group. The Hinduja Group is likely to make an announcement on Monday. It may be recalled that Hinduja TMT Ltd, the technology arm of the group, had said that it was exploring the possibilities of acquiring 900 agent call centre company in the Philippines. HTMT had further stated that it had plans to ramp up such call centre up to 2,000 agents. The legal and financial due diligence was undertaken by Crawford Bayley & Company, Solicitors and PricewaterhouseCoopers. Benpres had invested 100 million pesos in the call centre business of Customer Contact that started in 2001. The call centre expects to report its maiden profit in the current year. Earlier, Business Line had reported that HTMT was planning to set up a call centre in Philippines even as the company sought to expand its IT-enabled services in Mauritius. The new Mauritius centre is likely to be a business continuity-planning centre with a capacity of 200-250 seats. And it would be dedicated to business process outsourcing efforts. The company has projected a revenue growth of 60 per cent with a net profit margin of 45 per cent on its total turnover for 2003-04. The forecast was on account of some new contracts won and pipeline visibility. HTMT reported a net profit of Rs 58.31 crore for the year ended March 2003 compared to Rs 31.37 crore, a year ago. Total income was Rs 216.78 crore against Rs 164.34 crore a year ago.
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