V A Tech Wabag, a water and waste water management company, will operate their overseas businesses from India to get the benefit of higher returns at lower costs, reported Business Line.
The base of their international business operations was earlier run from Austria, the location of its parent firm acquired in 2007.
New subsidiaries of the company fully managed from India are having high returns now. In 2013-14, 60 percent of total revenue of Rs 2,230 crore was from international businesses, says reports.
Indian team directly controls and deals with operations of different branches of the company located in various countries providing support, finance, technology and manpower.
The 90-year-old company brand has an excellent global reach. Especially in India, the company gets the facility of low-cost operations with better expertise, according to the report.
Recently, the company expanded their operations to South East Asia, West Asia and Africa. Common works like human resource management, finance, treasury, Management Information System and reporting are controlled efficiently from India at lower costs compared to Europe.
Central and Eastern Europe, Turkey, North Africa and West Asia are markets handled out of Austria by the company. For 2014-15, revenue generated was between Rs 2, 600 and 2,700 crore. Now company’s order book stands at Rs 5,354 crore, according to the report.
editor@greentechlead.com