Sparsh Manager Exits
By Sandhya

Intelenet Global Services describes itself as a leading global third party BPO Company that delivers Business Process Outsourcing services to many Fortune 500 companies in India, USA, UK, Australia, Mauritius, Philippines and Poland. Intelenet is backed by Blackstone, a leading global Private Equity player. Sparsh BPO, with 16,000 employees, is Intelenet’s subsidiary in India.

Both Intelenet and Sparsh were controlled by the same holding company. Sparsh BPO's top management were all Intelenet employees and Sparsh was owned by the same entity which owns Intelenet Global. In fact, Sparsh was funded by Intelenet in terms of working capital and bank guarantees (as Sparsh BPO cannot raise funds on its own).

Intelenet’s revenues for the year to March 31, 2011 were approximately 170 Million British Pounds. Revenues have grown organically over the last three years at a compound annual growth rate of 12%. Intelenet’s Adjusted Operating Profit for the year to March 31, 2011 was approximately 19 Million British Pounds.

In May, 2011, British based Serco bought out Intelenet and its Indian wing Sparsh for 385 Million British Pounds.

Regular readers of Techgoss are well aware that a large number of our articles are crowd sourced.  People send in tips, story ideas and even articles. Many of our contributors have full times jobs in IT-ITES, and so prefer using a pseudonym.  A well informed Tipster wrote in

“
Vice President BFSI Operations at Sparsh BPO (now Serco BPO India), K Phanindra, had joined Sparsh BPO in June 2008 as part of the restructuring of businesses in the domestic operations at Sparsh BPO when businesses were realigned according to verticals. Phanindra will be moving out by September end / October beginning. He has put down his papers.

Phanindra had a 12 year solid successful stint at HDFC Bank before spending 9 months at Yes Bank.  He then joined Sparsh BPO. He and COO Intelenet BFSI, Baskaran Chandramouli, had joined Intelenet / Sparsh within a span of 6-7 months of each other and were colleagues while at HDFC Bank.

Phanindra is highly regarded for his operations excellence and domain knowledge of the BFSI sector. His grip on numbers and operations metrics is unmatched by anyone else in the Sparsh BPO domain by far. His work ethics & domain knowledge make him an outstanding leader.

Quite separately to such voluntary resignations, after the Serco takeover of Sparsh there is a push to rationalize numbers in the organization
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