The Hindu : VisualSoft's growth plans

Online edition of India's National Newspaper
Thursday, Sep 18, 2003

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Business

VisualSoft's growth plans

By Our Special Correspondent

HYDERABAD SEPT. 17. The Hyderabad based VisualSoft Technologies will be investing up to Rs. 40 crores in business process outsourcing operations in the next 9-12 months. In the short-term, it is setting up a 400-500 seat facility in Hyderabad to commence commercial operations from March, by which time it expects to firm up orders from three of its customers. As a long-term strategy it is planning a bigger BPO facility in Vizag spread over a period of two years.

The company plans to hire another 400 people in 6-9 months for its IT services, according to D. V. S. Raju, Chairman and Managing Director. Addressing a press conference after the annual general meeting here on Wednesday, he said they were open to acquisitions in BPO space, though nothing was under serious consideration as of now.

Mr. Raju said given the optimism seen again in the IT sector and the potential of high-end BPO operations which could yield higher rates than even software development, BPO would be an important component of its next growth phase. The BPO focus areas would include help desk services, inbound call centres, claims processing, multi-media services, and tech-support. It plans either a BPO division or a subsidiary, he said.

Mr. Raju said the company strengthened the R&D group with additional teams and it recently bagged an R&D outsourcing contract (platform development) from one of top technology companies of Fortune 500. The company is now working with over ten Fortune 500 companies. He was confident of meeting the guidance of 20 per cent growth.

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