Financial Daily from THE HINDU group of publications
Wednesday, Feb 19, 2003
Financial Daily from THE HINDU group of publications Wednesday, Feb 19, 2003 |
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Info-Tech
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Outsourcing VJIL plans BPO foray, names arm Our Bureau
HYDERABAD, Feb.18 VJIL Consulting Ltd., the Hyderabad-based software services provider, has announced plans to foray into the BPO (business process outsourcing) space. It proposes to set up a separate subsidiary that will service clients both within India as well as in the overseas markets. The Executive Director of VJIL Consulting, Mr M.Satyendra, told Business Line today that the company would create a wholly-owned subsidiary to address this growing business opportunity and the necessary infrastructure was being created. "We plan to recruit people as we go along to tap the growing BPO market." "We have bagged a couple of pilot projects even as the company is in the process of firming up a comprehensive business plan covering both short-term as well as long-term perspective as also the overall investment that would be required to address this business opportunity," he explained. When asked about the investment required for the venture, Mr. Satyendra said "we will be able to comment once we firm up the overall business plan." The company had earlier in the day informed the Bombay Stock Exchange about its foray into business process outsourcing space by creating a wholly-owned subsidiary— Mercury Commerce Outsourcing Ltd. The said subsidiary will in turn open branches and even consider subsidiary companies in some countries. However, these developments would comply with all statutory clearances, including the FEMA regulations. It may be recalled the company had seen an increase in paid-up capital this fiscal following a preferential allotment of 9,90,000 equity shares of Rs.10 each for cash at premium of Rs 2 each per share.
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