NEW DELHI: HeroITES, the independent SBU of Rs. 10,000 crore Hero Group, today announced its spin-off from the Group into an independent company.
Sunil Kant Munjal will be the company's managing director and CEO. The company has outlined a comprehensive business strategy to be among the top five BPOs in the country by the year 2007.
HeroITES is targeting to grow its business organically at over 100 % for the next two years. Also as a part of the growth strategy, HeroITES plans to aggressively look for acquisitions in identified markets, sign up new customers in US and UK and double its headcount to 2000 employees in one year. The company a'sp plans to go for an IPO in two years.
HeroITES, one of the pioneers in the Contact Center/ BPO industry in India, now provides services to large corporations across UK, US and Australia, several of who are part of Fortune 500.
The company has substantial experience in the Credit Card Industry and has been providing services to at least three of the top 10 credit card companies in the US. Besides, the company has been providing services to companies in Telecom, Retail, Direct Marketing and Manufacturing industry verticals.
Referring to the company's business priorities, Munjal said, "The company is now gearing up for the next phase of growth, which will be to sign up new customers and double our headcount in one year. Besides the recently constituted M&A team is aggressively looking at acquisition opportunities in US market. We are targeting profitable companies with revenues under US$100 million and a sound management team."
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