Sundaram Business Services eyes Rs 30 cr revenue from Australia

NEW DELHI: Sundaram Business Services (SBS), the BPO arm of Sundaram Finance Ltd, today said it has signed a number of deals in Australia, which will help it to double its revenues from the region to Rs 30 crore in the next few years.

The company, which has a team of 200 people in Chennai servicing over 30 Australian customers, is targeting to grow its Australian business by 50 per cent this year.

"Our revenue from Australia is about Rs 15 crore currently. We are seeing strong demand in this market and with the new deals we are signing, we expect to double this (revenue) in the next few years," SBS CEO Rajesh Venkat said.

The company has inked a deal with a Sydney-based company to undertake mortgage processing work from India, while as part of another contract with a Melbourne-based research firm, it will undertake equity research back office work. The Rs 15 crore deals (together) are for three years.

SBS has also bagged deals with several new pension fund administrators and accountants across Australia.

"We plan to consolidate and strengthen our dominant position in Self Managed Superannuation Funds (SMSF) vertical, while at the same time focus on growing and establishing a strong presence in our newly launched services like mortgage processing, portfolio management, equity research and virtual CFO services," Venkat said.

On prospects for SBS in the Australian market, Venkat said, "Australia is a market that emphasises a "Walk the Talk" philosophy. While it takes a longer time to build confidence with customers and to grow in this market, we believe it is stable for those with a long term perspective."

SBS has over 1200 people and has overall revenue of Rs 40 crore.

"We are confident that the credibility we have established with our strong reference-able client base over the last 8 years and the on-the-ground marketing support we are creating in Australia will help us achieve a healthy growth," Venkat added.