Genpact to open new centre in Morocco

New Delhi: BPO major Genpact said it would soon open a centre in Morocco to leverage the French capabilities. The company has recently opened a facility in Guatemala.

“We are hoping to open a new centre in Morocco in the first quarter (2009). Morocco has good French speaking capabilities,” the Genpact CEO, Mr Pramod Bhasin, told reporters on the sidelines of India Economic Summit.

He said that the company was open to acquisition opportunities in the banking and financial services, supply chain and finance and accounting space.

“Also, acquisitions would be driven by geographic presence and the existing client base. Overall, as far as mergers and acquisitions are concerned, in the next few quarters, we see the expectations of the buyers and sellers will match,” he added.

Earlier this month, Genpact posted a 106 per cent year-on-year rise in its net income for third quarter ended September 2008 to $33.6 million, on the back of strong selling, general & administrative (SG&A) expense leverage, and due to certain interest income.

In its outlook, the company said that it continues to expect the full year (2008) revenue to grow by 26-28 per cent from $823 million in 2007 and adjusted income from operations margin to improve by 80 to 100 basis points to 17.1-17.3 per cent.

“However, in light of the current environment, we expect that both measures will likely be at the lower end of the range,” the company had said while announcing its results.

For the third quarter, Genpact’s revenues at $270.8 million represented a growth of 26 per cent over the year-ago period.