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Exl Service said it expects addition of finance and accounting business through OPI, which it acquired in May this year for $91 million. The company is looking to acquire small as well as bigger clients of up to $100 million, depending on the usage and capability of companies.
Exl Service chief operating officer Pavan Bagai said the company has around 200 clients and 80 were gained through OPI acquisition. The company expects to end this year with another 10 clients, adding 10-15 clients each year over the next few years.
“It will not drop in absolute terms (insurance business), but in proportionate terms in a full-year scenario. We expect insurance to contribute around 38 per cent, finance and accounting (F&A) around 25 per cent, utilities, transport and travel around 25 per cent and the rest from others,“ Bagai said.
He said with the recent acquisition, the company now has onshore delivery capability and is looking to grow that business.
“We have got around 500 people and we see that growing in future. The US deliv ery is not going to replace what we do from here, but it will be only an additional operation to us,“ he said.
On the US and other crisis around Europe and the UK, he said there would be some impact in the short term, but in long run, it would be beneficial to the industry because of the pressure to improve efficiency and effectiveness.
The services that EXl provides will actually meet those expectations. The downside is only unemployment, but the economic rationale is very compelling, he said.
He said Indian operations of the company are growing at around 40-20 per cent each from organic and inorganic growth. The company, which announced plans to hire around 6,000 people this year, has already hired 3,000 people while others would join by December 2011.
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