Chennai: Ontrack Systems Ltd., which runs India's first website on tenders, is exploring the possibility of promoting an exclusive BPO (business process outsourcing) arm in the near future.

"India being the global hub in the BPO/ITeS (IT-enabled services), the company is exploring venturing into this segment by promoting an exclusive BPO arm in the near future," B Hari, managing director, Ontrack Systems, said at the company's 16th annual general meeting held in Chennai today (Aug 31, 2004).

He said the company has been nominated for Deloitte Technology Fast 500 Asia Pacific 2004 award.

Deloitte Touche Tohmatus Asia Pacific Technology Fast 500 is a ranking of the fast growing technology companies in Asia Pacific based on three-year percentage revenue growth, Hari said in a statement.

Ontrack Systems, which ended the fiscal 2003-04 with revenues of Rs 24.4 crore, compared to Rs 16.6 crore in the previous year, has also started pilot projects in the areas of technical services and HR services for overseas companies. "The trend of outsourcing core processes is irreversible and will continue to grow exponentially in the next couple of years," Hari said.

He said Ontrack has registered export earnings growth of 54 per cent through its wholly-owned subsidiaries in the UK and UAE. The AGM also approved a dividend of seven per cent.