Hinduja Global Solutions (HGS), the BPO arm of diversified Hinduja Group, aims to enter Latin America and the Caribbean Islands.
Talking to Deccan Herald, HGS CEO Partha De Sarkar said, “We are exploring new nearshore and offshore locations that will enhance our delivery network and suit our clients’ needs. Our business in Jamaica is expanding, and we are pleased with its growth as a nearshore centre.”
The Bengaluru-headquartered company has its presence in 11 countries, and has over 40,000 employees. In 2003, the company acquired Customer Contact Centre in Philippines. “In 2006, we also acquired Affina, a company in the US, and then our presence in the UK came through an acquisition in 2010 called Careline, Canada happened in 2011, and that was our last inorganic geographical expansion,” Sarkar added.
He said, “We have also expanded our presence in Europe, and then in Jamaica and Dubai, but all these have grown organically. We have invested in these businesses too. Today, about 44% of our revenues come from health insurance in the US market. We get 32% from technology, media and telecom, and 16% or so from FMCG.”
“So, if you club BFSI (banking, financial services and insurance), which includes the health insurance, TMT and the consumer segment, that’s approximately about 82% of our revenues.”
“Today, about $500 million of businesses have been built completely organically; and some parts of it has come inorganically. If you look at our CAGR for the last five years, it will be 20%, again a mix of organic and inorganic. If you look at the last year, we grew by about 18.5%, which is one of the fastest rates of growth that you will find in our peer group,” he said, adding that they have always been a high growth company.
When asked about new acquisitions, he said, “We are not looking for any acquisitions in India. But even if we look at acquiring, it will be in the healthcare segment, which is our sweet spot. We will continue to invest in that segment.”