MS Ramaiah Group Merges Three Cos
The Financial Express, May 28 2003
Our Efe Bureau
Bangalore: The Bangalore-based MS Ramaiah Group has announced the consolidation of some of its existing business by merging three companies—John Brown Technologies, Amsoft Information Services and Sun Mart—into a single holding company called The Valdel Group. The Group also announced the launch of new ventures in the retail and business process outsourcing (BPO) sectors.
According to Valdel Group chairman MR Jayaram: “Valdel Group was created to provide a unique identity for our different business interests to grow with.”
The new ventures to be launched in the retail segment include the opening of a retail supercentre in Bangalore with a retailing area of about one lakh square feet and an investment outlay of Rs 25 crore, Mr Jayaram said.
Valdel’s BPO would start as a 250 seat contact and transaction processing centre focusing on telecom financial services and retail verticals. The venture would be a contact and transaction processing centre, according to Valdel Group managing director MJ Shantaram. The first phase investment outlay of the BPO venture would be Rs 10 crore.
Speaking about the business consolidation Mr Shantaraam said, “having the businesses consolidated into a single entity would allow for more effective direction and management....”
The group currently has 365 employees and is expected have 1,050 staff by 2005. Currently earning revenues of Rs 25 crore, the company is targeting Rs 170 crore by 2005.
|
