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The pecking order in the Indian IT services landscape is due for a major change in 2011, following Cognizants rapid rise. So will the USD 14 billion BPO market. Aegis, an Essar company, will likely join Genpact as it second member in the pure play billion-dollar BPO club. It will also displace Wipro BPO from its perch as the third largest Indian BPO exporter overall. Aegis is expected to make it with its recent USD2 billion 8-year deal with Saudi Telecom Company, Saudi Arabias largest telecom operator. The deal would add USD250 million every year to the companys revenue. The USD 2 billion deal is one of the largest deals ever inked by an Indian service provider.
The firm has projected FY 2011 income at about USD700 million and FY12 earnings at over a billion dollars - 25 per cent of the growth coming from the STC deal.
While Genpacts revenue is over a billion dollars, TCS BPO is on a fast-track growth with revenues of USD 729 million in FY2010.
Analysts say FY 2012 could see a neck and neck tussle between Aegis and TCS BPO in FY2012 with the possibility of Aegis toppling TCS if Indias largest IT-BPO exporter fails to sustain its current pace of growth.
According to Global CEO of Aegis, Aparup Sengupta, quoted in the same report, the company might be entering an era of big league transactions. He added that Aegis would become the second BPO company to gross a billion after Genpact.
He added that the company aimed to emerge as one of the top five BPO players in the world. Aegis, which already has a workforce of 50,000 people, says it is "Obama-proof" following a local hiring policy in every market, marketing itself as a company building customer experience.
With the STC deal in Saudi Arabia, Aegis would be able to expand its footprint to countries where Saudi Telecom has significant equity stake - in Bahrain, Kuwait, and Indonesia, say analysts.
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