HGS bets on banking, HR segments as demand from domestic telecom slips

Business process management (BPM) services firm Hinduja Global Solutions (HGS), after being hit by a slowdown in its domestic business owing to a dip in revenues from its telecom vertical, is slowly increasing its exposure to the banking and financial services (BFS) and human resourc outsourcing (HRO) segments in the country to de-risk its balance sheet. The Bengaluru-headquartered company has already signed few marquee clients in the BFS space and is expanding its delivery capabilities to service them.

“The challenge used to be in our customer relationship management (CRM) business because it was heavily focussed on telecom. In the telecom segment, we have seen shrinkage in volume, but we are growing in BFS (to offset the shrinkage),” said Srinivas Palakodeti, chief financial officer (CFO) at Hinduja Global Solutions.