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Raja Simhan T E

Chennai , Feb. 1

THE US-based Global Realty Outsourcing (GRO), a business process outsourcing (BPO) services provider for commercial and residential real estate industries, has doubled its manpower in India to 500 in the last one year.

The company, which has made cumulative investments of $15 million (around Rs 70 crore) in Indian operations, has added 35,000 sq ft of space in Spencer Plaza, Chennai.

Once this space is ready, GRO will have about 50,000 sq ft in Chennai and capacity to seat 1,250 people, according to Mr V.K. Raman, CEO (India), GRO.

The company plans to recruit 100 more this year. In the US, the company has around 50 employees mostly for front-end operations, he told Business Line.

GRO uses its onshore/offshore outsourcing model focussing on providing services to real estate and financial services industries.

Its investor base includes Citigroup and Wachovia Capital Trust and Actis, he said.

According to Mr Raman, GRO provides high-end real estate financial analysis to assist clients in capital markets transactions and due diligence in debt issues with real estate collaterals.

In addition, GRO provides value added services in residential mortgage services, including primary servicing and audit of new loan origination compliance, he said.

Since its founding in 2000, GRO has conducted analysis on more than 20,000 properties in commercial real estate transactions of $175 billion and services or master services of thousands of residential mortgages each month.

The company also provides transaction-servicing support on thousands of commercial loans each month and develops complex information management applications for commercial real estate investors, he said.

"Our success has been due to the large presence of skilled labour force in India (in Chennai). Around 30 per cent of the company's employees are professionals, including MBAs. We cannot find in the US the same kind of professionals as available here.

"We can also scale up our manpower here, which again cannot be done in the US. From India, we do work at half the time and cost for clients," he said. GRO's client includes top 20-30 US banks and Wall Street firms," he said.

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