Chennai: The Iraq reconstruction phase will see manpower moving from India as against project exports, says K Pandia Rajan, managing director, Ma Foi Management Consultants, a Chennai-based human resource service provider. "Already the demand for technical personnel has gone up in the oil and gas industry as many multinational companies are setting up their shop in Azerbaijan."
The company's Singapore subsidiary, Ma Foi Singapore, was able to break even within the first three months of operations, bagging assignments in the oil and gas industry. Some of them are Halliburton (Singapore), Ranhill Worley (Malaysia), Aker Kvaerner (Singapore) and Shell Asia.
According to Rajan the Iraq reconstruction will see engineering services being offered by Europe while detailing will be from the Asian region.
Ma Foi, in the meantime, has decided to offer additional equity stakes to Chanakya Software, Australia. The Australian company holds a 2-per cent stake in Ma Foi. "Discussions are on, and a decision on the subject will be taken soon," says Rajan.
About the company's fully-owned subsidiary Ma Foi Outsourcing Solutions (MOS), which is the country's first fully-integrated human resources business process outsourcing company, Rajan says it has bagged a London-based healthcare recruitment firm as its first client.
The company hopes to clock a turnover of Rs 4 crore. Currently, MOS has 60 professionals and services 39 clients and the company has plans to increase the capacity to 100 seats by this yearend. Rajan says a Dubai-based company has shown interest in picking up some stake in MOS.
Ma Foi closed last fiscal with a gross revenue of Rs 48.66 crore and a net revenue of Rs 17.40 crore (gross revenue minus the salaries of deputees). The profit after tax went up to Rs 1.16 crore from Rs 62 lakh registered during 2001-02.
The company's onsite resourcing business saw a sharp rise of 214 per cent, with growth in the number of deputees increasing by 227 per cent. Ma Foi presently has over 4,500 deputees, spread over 250 locations in India, making it the largest onsite resourcing company in India.
One of the significant assignments completed by Ma Foi is the organisation restructuring and role redefinition for one of India's largest metal manufacturing companies. The focus of the project was to align the organisation structure with the company's current reality and its future plans, keeping in view the changing global picture in their line of business.
This study sought to identify and eliminate areas of inefficiency and duplication in the organisation's workflow processes and to redefine roles in light of the proposed structure and suggested process flow amendments.
Ma Foi may look at US (Princeton) and Australia for expansion, says Rajan.