Moneycontrol
Last Updated : Jun 11, 2013 09:34 AM IST | Source: CNBC-TV18

Growth top priority, not divestment: Essar BPO

Speaking to CNBC-TV18's Kritika Saxena, Sandip Sen, the new CEO of Aegis, says that he is focused on growing the company organically and inorganically before concentrating on a stock market debut


For a while now, there's been a buzz that the Essar Group is gearing up to list its BPO arm — Aegis.


However, speaking to CNBC-TV18's Kritika Saxena, Sandip Sen, the new CEO of Aegis says that he is focused on growing the company organically and inorganically before concentrating on a stock market debut.  Sandip Sen has had his hands full ever since he took over the reins of in December 2012 from Aparup Sengupta.


While Sengupta's departure had raised many eyebrows, considering his exit at a time when the company's promoters  were reportedly looking at diluting stake to PE players, Sandip is undeterred.


After his predecessor's exit, Sandip has set out to restructure the entire business focus to maximise margins by consolidation of assets and facilities and vertically dividing the business into four key areas:  travel, hospitality, BFS, healthcare and insurance. "Growth, at this point, is top priority, not divestment," adds Sen.


Regarding the promoters' plans to sell stake to PE players, Sen says, "We are focused on growth and margins. We are not looking at divestment. But as our performance gets better in the next 12 months, we could be looking at an IPO at the optimum limit. In terms of margins we want to be in the top quartile."


On plans to make, Sen adds that in the last 18 months, the BPO has not made any acquisitions. "This year we are looking at acquisitions in new regions like Malaysia, Indonesia and domains that will help us consolidate growth."

Apart from inorganic growth, the company also expects to hire 5,000-7,000 employees to add to its 50,000- strong employee base.

First Published on Jun 10, 2013 10:21 pm
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