MphasiS' appetite grows bigger, keen on acquisitions
The Hindustan Times, April 15, 2002.
MphasiS BFL appears to be on a roll - consolidated revenues are up to Rs 313 crore while net profit is up by 201 per cent to Rs 40.98 crore. Former Citibanker and now chairman and chief executive of MphasiS BFL Jerry Rao is scaling up his Business Process Outsourcing call centre MphasiS BPO in a big way.

Rao said, "We have 700 people employed at MphasiS BPO with an annual turnover of Rs 23.3 crore. I expect this to grow by 200 per cent year-on-year. We are hiring very aggressively, almost 100 are being added every month. By the end of the financial year 2003, the call centre will be 2000-strong."

Size has become an issue at MphasiS. Ideas are being kicked around for it has dawned on the management that mere organic growth won't help. Rao says, "M&A activity of some kind is imperative to grow bigger. We are cash comfortable and are formulating an action plan. It is definitely on our radar."