Tricom to invest Rs 20 crore for expansion

MUMBAI: Mumbai based Tricom India Ltd, a non-voice BPO company, would invest around Rs 20 crore in various expansion activities. The company is setting up a 22,000 square foot, 600-seater facility in Mumbai and another one in Pune.






The company's Mumbai facility would go live within two months and Pune facility would commence operations in about 18 months. Tricom India is evaluating various options to finance the outlay that could be through a mix of internal accruals and borrowings. The expansion will facilitate the company to cater to large orders. It has already established a wholly owned US subsidiary, Tricom Document Management Inc. (TDM). The subsidiary is currently based in Los Angeles and Tricom plans to open offices in New Jersey and Chicago in this quarter.





The company is focusing on specialized services like Litigation Coding, Electronic Data Discovery, Indexing, Remittance Processing, Health Claim Processing, Mortgage Documents, Title Plant Maintenance and e-publishing.





On the financial front, for the third quarter ended December 31, 2004, the company's revenue increased to Rs 3.21 crore compared to Rs 2.76 crore in the corresponding quarter of the previous year. The net profit has increased to Rs 1.14 crore as compared to Rs 97 lakh in the corresponding quarter of the previous year. The company has a paid up capital of Rs 4.51 crore.





The cumulative net sales and net profit for the nine months ended, December 31, 2004 amounted to Rs 9.46 crore and Rs 2.93 crore respectively.