Gecis renamed Genpact; targets $1b revenue

NEW DELHI: Re-branding itself as Genpact, global outsourcing company Gecis Global, has announced that it expects to cross the $ 1 billion mark in annual revenues by 2007-2008 and have a global workforce of 30,000.

The company expects to grow at 25 percent this year and would maintain and accelerate that pace in future.

“We expect to close the calendar year 2005 with $490 million in revenues and a little over $82 million in earnings before interest and taxes. We expect to pass the one billion-dollar mark in annual revenues by 2007-08 through a mix of partnerships, organic as well as inorganic growth,” said Pramod Bhasin, president & CEO, Genpact.

“Since selling 60 percent of its stake to two private equity firms, General Atlantic and Oak Hill, Genpact has received orders worth $160 million from more than a dozen new customers,” he added.

Giving the rationale as to why the company chose the name Genpact, Bhasin said, “We chose it because it so aptly communicates our brand promise — generating value, commitment, partnership and impact. The name communicates our value proposition around business impact — that we drive process improvements to help global enterprises improve their revenue, cash, costs, margins, speed and customer relationships. It also communicates our GE heritage.” The company's tagline is Global Business Impact.

Bhasin said that the bulk of the hiring would be done in India and the company might have 10,000 employees in India next year. Genpact has added a facility in north Delhi and another one might come up in a southern Indian location like Kochi. Globally, the company is looking at some parts of Europe and Africa for its expansion.

He added that the company foresees revenue potential of more than $500 million from orders received this year. Replying to a question on Genpact's plans for filing for an IPO, Bhasin said, “At this point of time we are not looking at an IPO. We want to concentrate on increasing revenue and building strong diverse base of customers.”