Thursday, September 29, 2005

GECIS Rebrands as Genpact, Targets $1Bn in Annual Revenues

GE Capital International Services (GECIS), the India-headquartered outsourcing company, has renamed itself as Genpact, at the same time setting an annual revenue target of USD 1 billion by 2007-2008. The company also plans to increase its global workforce to 30,000.

Pramod Bhasin, President and CEO, Genpact, expects the company to close the calendar year 2005 with USD 490 million in revenues and a little over USD 82 million in Earnings Before Interest and Taxes (EBIT). He added that since the sale of the 60 percent stake held by General Electric (GE) to General Atlantic and Oak Hill, two private equity firms, Genpact had received orders worth USD 160 million.

Over the next two to three years, the company expects its revenues to grow 25 percent annually, touching USD 1 billion sometime in 2007 or 2008.

Commenting on the proposed increase in Genpact’s headcount, Bhasin said that the company plans to hire around 10,000 people over the next two years with a focus on China and Eastern Europe. Genpact currently employs nearly 19,000 workers, most of them in India.

The company, based in Gurgaon, India, has recently set up a facility in North Delhi and another one is expected to come up in the Southern Indian city of Cochin. Bhasin also outlined the company’s plans to expand in some parts of Europe and Africa, and revealed plans to set up call centers in Latin America. He added that the company foresees revenue potential of more than USD 500 million from orders received this year.

for more info

Reported by Associated Press


Anonymous said...

We'll miss the "imagination at work tag " isnt it Kris ?

Anonymous said...

sorry its Anna agin ...

ada-paavi!!!! said...

nice blog, GECIS rebranding, letx c how it works, considering its still considered GE land!!