The Hindu Business Line : Progeon to open centre in China

"The China centre will mainly cater to our existing global clients," said Mr Akshaya Bhargava, CEO and Managing Director, Progeon, adding the company did not have any plans to tap the local market.

Progeon plans to handle accounting, book-keeping and human resource work for clients.

"We have three customers in the pipeline for the China centre," Mr Bhargava said but declined to comment on the hiring plans. The centre would be part of the Infosys campus in China, he said.

Infosys recently announced major expansion for China where it plans to hire some 5,000 people over six years.

Progeon recently opened its third centre in India at Jaipur, which can accommodate up to 2,000 people. The company, which has centres in Bangalore and Pune, also has a centre in the Czech Republic.

Progeon reported a net profit of Rs 23.2 crore on revenues of Rs 90 crore for the September 2005 quarter. "The year-on-year profit growth of 25.6 per cent was the highest in the industry," Mr Bhargava claimed, adding the order pipeline for the coming quarters was strong.

However, Progeon did not sign any new clients during Q2. The company's client base stands at 19, he said.

Progeon added 554 people during Q2 to take its overall headcount to 5,293.

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