Berkadia Commercial Mortgage LLC (Berkadia), a 100 per cent subsidiary of Berkadia US, would augment its workforce at the Hyderabad centre, as the company is hopeful of clinching “two potentially large acquisitions” in the US commercial real estate space.
Upping the workforce at Hyderabad back office is crucial for Berkadia, as it lends support to the company’s total $245.30 billion commercial real estate loan portfolio in the US market, and for servicing the prospective new deals. The offshore centre here is servicing up to 70 per cent of the US company’s portfolio.
Berkadia LLC currently has a 10 per cent share in the America’s $2.56 trillion commercial real estate loan market. It is 50:50 owned by Warren Buffett-controlled Berkshire Hathaway Inc and Leucadia National Corporation.
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The workforce at the Hyderabad offshore centre is set to touch 800 by the end of 2015 calendar year, up from 652 now. It was set up in 2002.
Speaking to mediapersons today, Berkadia Country head Ned Mody said, “the Hyderabad centre has transformed from that of holding labour arbitrage opportunity to doing most complex analytical work for a sizeable portion of the company’s US portfolio, now. Around 92 per cent of the staff here is home grown.”
