38. MPHASIS BFL: Cruising Along

DQI Bureau
New Update

After the merger of Santa Monica-based MphasiS with

Bangalore-based BFL, MphasiS BFL (erstwhile BFL Software) really found its fins and swam hard and strong. This IT services and consulting company grew by a healthy 138%–from Rs 124 crore to Rs 295

crore. The company’s primary money-earning vertical was financial services, which accounted for 44.5% of the revenues. Retail, logistics and transportation accounted for another 29%, while 20% came from the technology and telecom sectors.

In 1999-00, 89% of revenues had come from the US. That came down to 70% last fiscal, with Europe accounting for 14.6%. Over 61% came from on-site development while offshore accounted for the rest. Mphasis has been increasing its fixed-bid projects, with close to 40% of export revenues coming from fixed-cost deals. The company also started a subsidiary called

MsourcE, focussing on help-desks and call centers. The board has also decided to accept a Rs 45-crore investment offer from Chrysalis at Rs 350 per share. 

  • The onsite-offshore ratio stood at 61:39 to make up the total revenues of Rs 295 crore
  • Msource, a subsidiary focussed on help-desks and call centers, was set up to tap the mushrooming market
  • MRs 45-crore investment offer from Chrysalis accepted at Rs 350 per share, a premium of 15% of existing prices
Chairman & CEO: Jaithirth Rao

Start-up year: 1992 Products & Services: IT services, consulting software development and IT-enabled services

Employees: 1,421 Branch Offices:15 Address: 139/1, Aditya Complex, Hosur Road,

Koramangla, Bangalore 560095

Tel: 5522713

Fax: 5522719 Website: