XCHANGING SOLUTIONS LTD
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BSE Code:
532616
NSE Code:
XCHANGING
Business Profile
Business Profile
Cambridge Solutions (CAMBRIDGE), a Scandent group company, is an integrated, global service delivery system that offers a complete array of IT and business process outsourcing services. The company was incorporated in February 2002 and got its current name in December 2005.
The company`s IT business offerings include strategic consulting, application implementation, software engineering, and support service. The company offers BPO services through development centers in US, Australia, India and UK.
These services cover managing transactional back office services to performing high-end services for the insurance and risk management, finance and accounting, banking, mortgage and healthcare industries. The company`s Singapore, Chennai and Bangalore facilities are certified at CMMI 5. Additionally, the Chennai center is certified at PCMM with a new facility for 600 seats. A Pune delivery centre called Nexplidt Infotech India is being set up and a new product lifecycle management innovation centre in Bangalore is coming up. The company has achieved the ISO 270001:2005 certification.
The company forged partnerships with Scope International for back office banking services and signed an MOU with Cushman&Wakefield and BIGeREALESTATE to jointly develop a technology platform for real estate management. The company acquired US-based Nexplicit, a leading SAP provider. Attaining the Microsoft Gold Certification and being ranked 10th on the International Association of Outsourcing Professionals 2007 Global Outsourcing 100 list are some awards.
Recent orders include a multi year strategic partnership video monitoring services (VMS) to establish a dedicated offshore development centre; an agreement to deliver and market Dassault Systemes` product lifecycle management solutions; a three-year (Rs 230 million) contract with Alea North America to provide finance and accounting services etc.; and a contract from a US state government (USD 7.8 million) for re-platforming the state`s systems.
The registered office is at SJR I-Park, Plot 13/14/15, EPIP Industrial Area, Phase I, Whitefield, Bangalore-560066.
Financials
Cambridge Solutions limited swung to profit for the quarter ended September 2008. During the quarter, the company reported profit of Rs 109.60 million compared with a loss of Rs 23.50 million in the same quarter previous year. Net sales for the quarter jumped 72.27% to Rs 739.20 million, while total income for the quarter jumped 71.78% to Rs 740.20 million, when compared with the prior year period. The company posted earnings of Rs 0.98 a share during the quarter, registering 4.45 times growth over prior year period.
Recent Developments
27-SEP-07
Cambridge Solutions announced that, Scandent Holdings Mauritius (SHML) acquired 68,307,557 shares, or 61.38% stake in the company on Sep. 21, 2007. The mode of acquisition from erstwhile shareholders Scandent Mauritius (SML) and Scandent Group (SGL) was pursuant to a scheme of amalgamation and arrangement sanctioned by the Supreme Court of Mauritius (Bankruptcy Division) under which SML and SGL merged with SHML.