Spanco Telesystems and Solutions Ltd, has announced that the company has forayed into the domestic BPO segment through its new venture -- Spanco BPO. The new venture has set up two flagship customer support centers in Gurgaon and Mumbai to provide back office and contact centre services to domestic clients, a release said.

Spanco BPO plans to invest over Rs 400 crores in order to increase its presence across India over the next two years. The company will set up facilities in various cities across India including Chennai, Jaipur, Mysore, Ahmedabad, Lucknow and Noida.

Spanco, which provides telecom integration and back-office services, is looking to service industries such as financial services, insurance, telecom, entertainment, retail and hospitality in India.

In its first phase of the expansion, Spanco’s BPO arm is expected to employ around 5,000 employees. The company currently employs over 3,000 people in its BPO. The facilities in Gurgaon and Mumbai are spread over 2 lakh sq. feet with a capacity of 2200 seats.

Sandeep Soni, Executive Director and CEO, Spanco BPO, said, "We believe this is the best time to enter the domestic BPO market given the huge emerging opportunities within the country. Given Spanco’s erstwhile experience in the domestic space and proven technology competency, we will seek to differentiate ourselves by providing complete BPO and end-to-end strategic outsourcing solutions for organisations in India."

The firm presently holds market cap worth Rs. 473 crore, PE Ratio of 11.52 ; EPS of 19.87 and BV of 131.00. The firm has shown a net profit of Rs 11 crore for the quarter ended September 2007 as against Rs. 9 crore in same quarter of last year.

The stock closed today at Rs. 230 on BSE, up by 1% with previous close of Rs. 228. It touched an intraday high of Rs 240 and low of Rs 229.