"Genpact aptly communicates our brand promise. The logo was developed by New York-based Interbrand," Pramod Bhasin, president and CEO of the company said in New Delhi.
He said the company expects to cross $1 billion in revenues by 2008 and will add 11,000 professionals during the period taking its employee strength to 30,000. "This year we are expecting 25 per cent year-on-year growth in revenue in 2005 to $490 million," Bhasin added.
He said that the growth would come organically and inorganically. "We are looking at acquiring companies in US and Europe with revenues of $20 to $200 million," Bhasin added.
He claimed that the company has received orders worth $160 million since January this year.
Bhasin said Genpact was considering two additional sites in India, another in China and predominantly French speaking facility in Europe or North America.
Last year GE, which still contributed about 85 per cent of the total revenues of Genpact, sold 60 per cent of its stake in the company to General Atlantic and Oak Hill Capital Partners for over $500 million.
It still retains 40 per cent. Bhasin said GE at present has no plans to offload that stake. They have not discussed anything with us and we believe that for two-three years it will remain like this, he said.
GE, which contributed 94 per cent of the revenues in 2004, this year is likely to contribute 85 per cent and by 2006 this will come down to 75 per cent, Bhasin said.
He also ruled out any immediate plans for an IPO saying that the company does not require funds for expansion and would concentrate on consolidation.
Bhasin said the voice business contributes 25 per cent of the business and would like to keep it at that level, focussing more on the non-voice business.