>EXCEL INFOWAYS LIMITED (SMC)

OVERVIEW
Incorporated in 2003, Excel Infoways is a BPO and Customer Contact Centre based in India. The company is a provider of offshore BPO services to Clients primarily in Telecommunications and Financial Sector. The BPO service is provided mostly to clients in the US and UK. Initially the company commenced its operations with the capacity of 50 seats as compared to the current 150 seats. Company’s present manufacturing facility is at Andheri (W) in Mumbai and it further proposes to set up a 300 seat facility in Mumbai at Borivali (W ) and Kandivali- Charkop in Financial Year 2010-2011.

INVESTMENT ARGUMENTS

Diversified business model
The Company’s income is diversified across a range of geographies and industries. Diversified income is a competitive strength, as it provides a hedge against cyclicality or other adverse developments (including changes in laws or regulations) within any particular industry sector or geography or affecting any client. The diversified business model will result in relatively less volatility in the income, profits and cash flows, which will allow more effective planning and investing in the growth of the business. In telecom, the company provides the clients with a broad range of services, including customer acquisition, provisioning and fulfillment support, customer service, billing support and collections. In Financial services, Excel provides broad range of services including Customer acquisition, customer service, funds management and overseas property management, Business & Financial Transcription, e-media Transcription.

In technical services, the company provides the clients with Network Management and Monitoring, Solution of complex connectivity problems to increase bandwidth, improve response times, maximize performance, and support global operations. In the healthcare industry, Excel provides with a broad range of services, including Insurance Claim Processing, Medical Billing and Coding.

Proven delivery model
Excel is recognized for its service delivery. The company efficiently designs and implements outsourced solutions to suit customer’s requirements. Such solutions are measured, monitored and audited by the company on an on-going basis.

Excel has leveraged its experience in the telecom fulfillment solutions, Financial Services, Technical Services and healthcare industries and its operational expertise to expand the service offerings to new areas within those industries, as well as to clients in other industries. The strategic positioning within the key target industries is a significant competitive strength that will provide key growth opportunities to the company.

Extension of exemption under the Software Technology Parks of India (STPI) scheme
Excel benefits from certain tax incentives provided by the Government of India. Further, 100% Income Tax holiday as per the provisions of Section 10B of the Income Tax Act, 1961 in respect of profits derived by its undertaking/s from the IT Enabled services was available only upto Fiscal year 2010. However, Benefit of tax holiday to export oriented units (EoUs) under Section 10A and Section 10B has been extended by one year as announced in the Union Budget 2009-2010. It would now be available up to assessment year 2011-12.

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