Friday, November 23, 2007

NTrust plans to double headcount in a year

Ntrust Infotech, an IT and BPO firm catering to real estate lease administration, plans to more than double its headcount to at least 550 people over the next 12 to 18 months, as it expands to European market and eyes new service offerings, officials said.
Mr Srikanth Ramachandran, President & CEO, Ntrust said the company’s present focus was commercial real estate segment in the US, from where it gets over 90% of its revenues. But Europe market is growing fast and could soon account for a fourth or fifth of its revenues, he said.
NTrust, which has a back office centre in Chennai, employs 250 people who pour of lease documents to abstract data from them, reconcile operating expenses, monitor lease amendments and prepare reports. The closely-held company reported revenues of $15 million, and expects to grow at 50-60% a year during the next three years.
Mr R Janakiraman, COO, said the growth would come from both US and European markets. Already, US has the potential to outsource $10 billion worth of lease administration services to companies.
While the potential is high, the outsourcing has been minimal for two reasons. Many companies have just been convinced about the benefits of outsourcing. Secondly, the domain knowledge needed to perform some of the complex tasks is lacking, Mr Srikanth said.


No comments: