The Hindu Business Line : Gecis changes name to Genpact

GECIS, a BPO company, today rechristened itself as Genpact and outlined a strategy to cross $1 billion in revenues by 2007-08, compared to projected $490 million in the current year.

The rebranding of the company follows the sale of 60 per cent stake by General Electric (GE) to private equity companies, Oak Hill Capital Partners and General Atlantic, for $500 million late last year.

"We are on track to deliver $490 million in revenues for 2005, which will translate into 25 per cent growth rate. We expect to cross $1 billion in annual revenues by 2007-08 through a mix of partnerships, organic as well as inorganic growth, and have a headcount of 30,000 professionals," Mr Pramod Bhasin, President and CEO, told newspersons.

"Next year, we are going to hire 10,000 employees. Most of the hiring is going to be in India. However, the growth (in hiring) will be faster in China and Romania as the base is small there," he said.

The company is also scouting for acquisition of small to mid-sized BPOs in the US and Europe with expertise in finance and accounting, healthcare, and insurance domains. Mr Bhasin said that the company was not looking for an IPO in the near future. "It's too early for us to think of an IPO."On whether GE would further reduce its stake in the company, Mr Bhasin said: "GE, which currently holds 40 per cent stake in Genpact, has not discussed the issue with us. They may sell the stake one day, but not for at least 2-3 years."

Commenting on the new branding, Mr Bhasin said that the name, Genpact, reflected brand promise - generating value, commitment, partnership and impact.

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