CIOL:iGate to expand in Bangalore Hyderabad

Kishore Kumar

HYDERABAD: iGate Global Solutions is on an acquisitive mode of a different kind. The company is on look out to expand its operations in Bangalore and Hyderabad. And if the governments of Karnataka and Andhra Pradesh accept iGates’ request, then the company would soon hold an additional 25 acre of spaces in both Bangalore and Hyderabad.

In Hyderabad, iGate is keen on having a presence at one of the Special Economic Zones. ``We are in talks with the governments of Karnataka and Andhra Pradesh. We have also visited some sites in Bangalore and Hyderabad. We are hopeful of getting the permission very soon,’’ revealed Mohan Sekhar, member of board and chief delivery officer, iGate Global Solutions.

iGate’s corporate headquarter is located in Bangalore whereas two of its Centres of Excellence are housed in Hyderabad. The Hyderabad centre, started in 2004 serves 14 of iGates’ clients. ``Hyderabad has always been strategic to our growth. We would continue to grow in Hyderabad,’’ said Sekhar.

The company is also aiming to ramp up its headcount by adding 1000-1500 in the next few months, according to Sekhar. iGates’ global strength at present stands at 5,600. Besides Bangalore and Hyderabad, the company also has presence in Noida and Chennai.

North America constitutes 76.5 percent of iGates’ total business. The company at present is looking at strengthening its European operations. ``North America will continue to be our focus. But we see a lot of traction in UK and Germany. We are also looking at acquiring more large clients,’’ said Sekhar. Europe generates 12.5 percent of iGates’ revenue.

In the last couple of years, the country has completely reversed the onsite, offshore ratio. 73 percent of the company’s business is now done on the offshoring model. ``Offshoring has given more value to our clients,’’ said Sekhar.

The company’s revenue for the second quarter was recorded at Rs 202.6 crore. Earlier in the month, the company declared to offer its employees a choice to convert their previously issued stock options to Restricted Stock Units. The company has come up with a guidance to touch 15 percent EBITDA margin in Q4.

In July, the company bettered its stake in Loan Pro LLC to 60 percent. iGate had acquired a 5 percent equity stake in the Loan Pro in April.

©CyberMedia News

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