RuralShores expects to break-even in 12 months

Source : BUSINESS_STANDARD
By : BS Reporter
Last Updated: Sun, Dec 11, 2011 20:01 hrs

RuralShores Business Services, a provider of business process outsourcing services from rural areas, is planning to set up 100 rural centres which would provide employment to about 10,000 people in the next three years. The Bangalore-based company where housing finance company HDFC is one of the investors with a 26 per cent stake also said it was expecting to break-even in next 12 months.

RuralShores was founded almost three years ago by a group of six technocrats including former E&Y partner V V Ranganathan, Mastek MD Sudhakar Ram, former MD of Xansa India Murali Vullaganti and C N Ram, president and group CIO of Essar Group. Within three years of its launch, the company today employs about 1,000 people in 10 rural centres spread across seven states. Its lists of over 20 odd clients include Payback, an American Express company, Airtel and large BPO services providers like Infosys, Wipro, WNS and Quatrro.

About two months ago, RuralShores had received second round of investment to the tune of Rs 14 crore from Lok Capital venture fund.

“RuralShores will focus on equipping rural youth, hone their skills and provide them appropriate employment. Our endeavours are supported by marquee investors and young professionals to build scale and impact,” said Murali Vullaganti, co-founder and CEO of RuralShores.

Meanwhile, RuralShores has announced the launch of its first voice process at Chand in Madhya Pradesh to work for a large telecom service provider in India. The company also said that its centre located in Rathnagiri in Vellore district of Tamil Nadu is providing knowledge process outsourcing works to a UK-based publishing company.



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