The $30-billion Aditya Birla Group plans to revive its back office business Aditya Birla Minacs (ABM) by infusing fresh capital and becoming profitable through cost-cutting initiatives, apart from winning new projects both from within and outside the group.

“After five years of net losses, equity was eroded, (however) with the parent backing we survived. Now, we plan to bring some capital from the parent,” said Deepak J Patel, CEO, Aditya Birla Minacs. During the year ended March 2009, Minacs reported revenues of Rs 1,687 crore and a net loss of Rs 121 crore.

The turnaround strategy will be three-pronged – execute more work for companies within the Birla Group and showcase it to win more business, grow wallet-share from existing customers, and expand through acquisitions. The Birla Group itself has an IT and BPO spend of nearly $1 billion, Mr Patel added. (more…)