Latest news with #HGS
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Business Standard
7 days ago
- Business
- Business Standard
Hinduja Global Services elevates Venkatesh Korla as Global CEO
Hinduja Global Solutions (HGS) on Thursday named Venkatesh Korla, President and CEO of HGS Americas, as the new Global CEO. He will take charge after the retirement of current Group CEO Partha DeSarkar in September 2025, the company said in a statement Additionally, Mahesh Kumar Nutalapati, Deputy CFO since February, has been elevated to the position of Global CFO. Korla brings over 25 years of experience in digital services and customer experience, having led digital transformations and founded Element Solutions, now part of HGS' technology services. The company is currently evolving to align towards an AI-led future in line with the technology changes in the market and evolving client needs. Venkatesh, with his deep expertise and proven track record of leading digital transformation at scale, is the right person to lead HGS's future growth with a digital approach," Ashok P Hinduja, Chairman of HGS, said. HGS, a business process management firm, employs over 18,000 people across nine countries, reported a consolidated revenue of Rs 4,404 crore for the financial year ending March 31, 2025. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Economic Times
7 days ago
- Business
- Economic Times
Hinduja Global Solutions elevates Venkatesh Korla to new Global CEO
Hinduja Global Solutions (HGS) has elevated Venkatesh Korla, President & CEO, HGS Americas, as the new Global CEO, the company said in a statement on Thursday. The approval from the board has come in view of the impending retirement of Partha DeSarkar, Group CEO. The company has also appointed deputy CFO Mahesh Kumar Nutalapati as the new Global CFO. Ashok P Hinduja, Chairman, HGS said, 'The company is currently evolving to align towards an AI-led future in line with the technology changes in the market and evolving client needs. Venkatesh, with his deep expertise and proven track record of leading digital transformation at scale, is the right person to lead HGS' future growth with a digital approach."Venkatesh Korla, the new Global CEO said, 'Our people are our greatest strength, and by combining their passion with the power of technology, we will create meaningful, human-centered solutions that redefine how we serve our clients and their customers, and accelerate our journey as a digitally-led organisation.'Venkatesh is an accomplished business leader with 25+ years of experience in core digital services and tech-enabled customer experience (CX). In his earlier stints, he has been part of organisations providing expert consultation on digital strategies and solutions to Global 1000 companies, healthcare institutions, universities, and not-for-profit organisations. He also founded Element Solutions, later acquired by HGS and now forming the foundation of HGS' tech services business, that delivers strategic consulting, data analytics, marketing technology, intelligent automation, and cloud solutions to clients across the private and public sectors. Mahesh Kumar Nutalapati, who joined HGS earlier in February, is a Chartered Accountant with over 24 years of experience in various aspects of Finance. He brings extensive expertise in Financial Transformations, Risk management, Business enablement, IPOs, M&As - strategic evaluations & funding, Global Audit & Treasury management, establishment and management of Global Capability Centres (GCCs).
West Australian
29-05-2025
- Business
- West Australian
‘Stop giving concessions': Major warning on first-home handouts
Potential first-home buyers are falling further behind due to the very schemes designed to get them into a home. Independent economist Saul Eslake said the best thing the government could do to help first-home buyers would be to remove concessions that allow them to buy a home. 'The question isn't what they should be doing, it's what they should not be doing,' he told NewsWire. 'What they have to stop doing is things that needlessly inflate demand for housing. 'Stop giving out what I call second-home vendor grants as I call them because that is where the money ends up.' 'Stop giving stamp duty concessions, all they do is allow people to pay the vendor what they would have paid to the state government and back away from the mortgage deposit guarantee schemes and shared equity schemes,' he said. Mr Eslake said these policies, which are designed to help first-home buyers, simply end up inflating house prices. 'While a shared equity scheme sounds like a good idea, in practice, if you're willing to buy a $400,000 house and the government says 'hey, we will give you 20 per cent', then buyers say 'oh good, I can now afford a $500,000 house'. 'So a $400,000 house becomes a $500,000 house, so it's more a matter of just stop needlessly inflating demand.' One of the key election policies the Albanese government ran on was its expansion of the First Home Guarantee scheme, which is sometimes called the 5 per cent deposit scheme. This program allows first-home buyers to purchase property with a deposit as little as 5 per cent, with the government effectively guaranteeing the other 15 per cent, allowing first-home buyers to avoid paying lenders' mortgage insurance. But in an updated version of the scheme to come into effect at the start of 2026, caps of $125,000 for singles and $200,000 for couples will be removed. The PropTrack April Home Price Index showed national house prices hit a new record high over the month of April, increasing by 0.2 per cent monthly or 3.7 per cent compared with the same time last year. Australia's Cash Rate 2022 Helia chief executive and managing director Pauline Blight-Johnston said the main risk to the latest policy was the removal of the income caps to get government help. 'Our belief is that we will achieve the most as an economy if the government help is directed towards those that need it the most, and those that are able to help themselves through private enterprise do so without the taxpayers' dollar,' she told NewsWire. 'At the end of the day, our view is that taxpayers' dollars should go to those that really need the help to get into the market, such as essential workers or others that are really struggling.' Ms Blight-Johnston said expanding the HGS didn't address the fundamental underlying issue for those struggling to buy their first home – a shortage of affordable supply. She fears that the government's housing schemes just worsen housing affordability by fuelling demand and driving up prices. Instead, she pointed to first-home buyers using lenders' mortgage insurance as a 'really powerful tool' that is often misunderstood. 'People think of it as a fee …. But if you think of it differently as a wealth creation tool and it allows you to get into a home earlier, on average people that use LMI get in around nine years earlier and around $100,000 better off after five years because they got into the market earlier,' she said. Ms Blight Johnston said mortgage holders would typically pay 1 to 2 per cent as a premium above their usual repayments if they took on LMI. 'If you think property goes up on average 4 or maybe 5 per cent a year, if it is going to take you more than six months to save the deposit, the extra 15 per cent — as LMI takes the deposit down from 20 to 5 per cent – you're going to be ahead by getting into the market earlier and paying the premium.' Mr Eslake said LMI could increase demand for property if it acted like a reduction in interest rates. 'We know whenever interest rates go down, people borrow more and pay more for the house they buy which results in higher prices,' he said.
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Business Standard
12-05-2025
- Business
- Business Standard
Here's why Hinduja Global Solutions shares rose 7% in trade on May 12
Hinduja Global Solutions share price: Shares of technology solutions, cybersecurity, and consulting services provider Hinduja Global Solutions (HGS) were buzzing in trade on Monday, May 12, on the exchanges. The company's share price climbed 6.85 per cent to hit an intra-day high of ₹509.90 per share on the NSE. The upward movement in Hinduja Global Solutions' share price followed the company's announcement that it had opened its newest AI-powered digital customer experience and Data & Analytics innovation center in Waterloo, Ontario. "This expansion marks a significant milestone in HGS's commitment to digital transformation, data-driven innovation, and creating high-quality career opportunities in Canada's fastest-growing city," the company said in a release. 'As we continue to grow and transform the customer experience landscape, Waterloo is the ideal city for HGS to expand,' said Savita Jones, HGS SVP - North America Operations. 'This region is home to more than 1,000 technology firms and has proven to be the perfect place to turn innovative ideas into a thriving business. Its collaborative spirit within this type of ecosystem is a great fit for our next-generation CX solutions that will ultimately create a data-rich innovation network.' About Hinduja Global Solutions A part of the multi-billion-dollar conglomerate Hinduja Group, Hinduja Global Solutions is a global player in optimising the customer experience lifecycle, digital transformation, business process management, and digital media ecosystem. HGS' core BPM business combines automation, analytics, and artificial intelligence with deep domain expertise, focusing on digital customer experiences, back-office processing, contact centers, and HRO solutions. The company has 18,169 employees in 10 countries, including 33 delivery centers. For the year ended March 31, 2024, HGS reported total income of ₹5,087.8 crore (US$ 614.4 million). The company has a market capitalisation of ₹2,349.51 crore on the NSE as of May 12. Hinduja Global Solutions share price history In the short term, Hinduja Global Solutions shares have advanced 3 per cent in the last five days and 7 per cent in the last one month, while they have plunged 32 per cent in the last six months and 38 per cent in the last year. Hinduja Global Solutions shares have declined 29 per cent year-to-date. In contrast, the benchmark Nifty has advanced 4.5 per cent during the same period. Hinduja Global Solutions shares have a 52-week range of ₹954.75-437 on the NSE. At 1:40 PM on Monday, the company's shares were quoted at around ₹502.35 apiece, higher by 5.27 per cent from their previous close of ₹477.20 on the NSE.
