 "Sanjiv Goenka")
Sanjiv Goenka, chairman of R P Sanjiv Goenka Group, will be completing the first year of acquisition of business process management (BPM) firm, Firstsource.
Over the year, the management has been focused on profitable growth and the last few quarters do show positive results.
Goenka, in an interview with Shivani Shinde Nadhe, talks about his investment in Firstsource, getting external consultants on board to shape the future roadmap of the company and BPM sector. Edited excerpts:
You will soon complete a year of Firstsource acquisition. How has the ride been so far?
We have done better this year as compared to the last year. This quarter also has done well. I would say the Q2 performance has been slightly better than what I had predicted. We are on course of profitable growth. We will look for quality topline and bottomline growth.
For this, if we are required to weed out certain non-profitable accounts, then we will do so. The third quarter will be about consolidation. We are making investments in this quarter which will start to pay out in the fourth quarter.
Please elaborate on consolidation in the third quarter
We have won a few accounts, about which I cannot divulge much, which require upfront investment from us in terms of people investment. Though we will start investing in them this quarter, you will see its impact in the fourth quarter.
CESC came under a lot of criticism over the acquisition of Firstsource, do you think investors are now satisfied with the performance of the company?
Our share price has moved up since then. This talks about investor confidence too.
Where do you see Firstsource over the next 2-3 years?
There are three elements to the growth story. First, getting our act in place. We have done that and it is evident in the numbers. Two, growing existing accounts by delivering more value to customers.
And three, creating a future roadmap. Internally, we are having several discussions. Over the next three months, we will come up with a strategic roadmap. At present, we are going through internal re-organisations.
Would you take assistance of external consultants as well?
Yes, we are open to that. We are evaluating various options. We have been able to improve our operations. Over the next 2-3 years, we will be in a significantly better position. BPO will be our core but we would certainly like to explore how we can leverage this to increase our market share further.
