GenPact to Set Up Outsourcing Centers in Philippines and Poland

NEW DELHI, INDIA - Business Process Outsourcing giant GenPact, formerly known as GE Capital International Services, will set up two global outsourcing service delivery centers in the Philippines and Poland this year. It expects to hire a total of 3,000 BPO professionals.

"We will set up two centers in the Philippines and Poland, where we will employ 1,500 people each. While the Poland center will cater to the German market and will be both voice and non-voice, the Philippines center will be mainly voice", Genpact CEO Promod Bhasin said.

Bhasin said Genpact is growing at a rate of 30 per cent per annum, and is targeting 26 percent in its revenue for 2006 to $615 million.

With cash generation happening, the company has abandoned its plan for any plan for Initial Public Offer.

"We have no plan to go for an IPO. We don't need to go for it", Bhasin said, adding GE, which still holds 40 per cent stake in the company, was not considering exiting Genpact. Two private equity ventures General Atlantic Partners and Oak Hill Capital Partners had picked up GE's 60 per cent stake for about $500 million in 2004.

In Europe, Genpact has operations centres in Budapest (Hungary) and in Bucharest (Romania). Budapest is home to nearly 700 associates who come from 29 countries. They work out of two facilities in the Hungarian capital and serve customers across Europe in 15 languages.

Genpact Asia is China's largest Business Services & Technology Solutions company and the center is based in Dalian, and employes close to 1,500 people. Dalian Operations was established in June 2000 and is a remote processing operation that services clients from Japan, Korea, Greater China, and Southeast Asia.

3/30/06

Source: Rediff.com

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