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“Private Equity-backed cos. growing faster than their peers”: Study

Private Equity- and Venture Capital-backed companies are also adding significantly well-paying jobs to the Indian Economy, the study by Venture Intelligence shows.

Private Equity- and Venture Capital-backed companies are growing significantly faster compared to their non Private Equity-backed peers as well as market indices like the Nifty and CNX Midcap, according to a study released by Venture Intelligence.

The Private Equity Impact report, showcasing the findings of a first-of-its-kind study measuring the Economic Impact of Private Equity and Venture Capital on the Indian economy, also shows that wages at PE/VC-backed companies are growing at a significantly higher rate compared to their peers who are not PE-backed.
  • Sales at publicly-listed PE-backed companies grew at 22.9% over the five year period between 2000 and 2005, compared to 10% at non PE-backed listed firms and 15.8% at Nifty Index companies.
  • Wages at publicly-listed PE-backed companies grew at 32% over the five year period between 2000 and 2005, compared to 6% at non PE-backed listed firms and 16% at Nifty Index companies.
The study was released by Mr. Raman Roy, Founder & Chariman of Quatrro and the “Guru” of the Indian BPO industry. The first copies were received by Ms. Usha Narayanan of SEBI and Mr. Inderbir Singh Dhingra of the World Bank.


Mr. Inderbir Singh Dhingra of the the World Bank and Ms. Usha Naryanan of SEBI receiving copies of the PE Impact report from Mr. Raman Roy of Quatrro BPO

The Private Equity Impact study - conducted by Venture Intelligence with advice and guidance from Prof. Amit Bubna of the Indian School of Business, Hyderabad - measures the economic impact of Private Equity and Venture Capital on the Indian economy using qualitative and quantitative methods.

The Study provides quantitative comparison of PE- and VC-backed companies against their non PE-backed peers and relevant market indices, in terms of key economic parameters like Sales, Profitability, Exports, Wages and Research & Development. It also includes a first-ever qualitative survey of founders of PE/VC-backed private companies, and case studies featuring PE/VC-backed companies from different sectors.

The survey revealed that about 96% of top executives at PE/VC-backed firms believe that without PE/VC financing, their companies would not have existed or would have developed slower. Also, more than 60% of top executives at PE/VC-backed companies surveyed said that the number of employees at their companies had increased after the PE/VC investment.

PE Impact also provides a snapshot of how PE/VC backed companies dominate the list of top companies in the rapidly growing Business Process Outsourcing (BPO) sector. The report features case studies of successful three PE/VC-backed companies – Spectramind (BPO), Arch Pharmalabs (Pharmaceuticals) and Bharti-Airtel (Telecom Services) – showing how these organizations benefited from PE/VC investments and the lessons learnt in the process.

The study was released at Venture Intelligence APEX’07, an annual conclave where the Indian Private Equity industry introspects, brainstorms on the way forward and rewards its best,

The release of the study was followed by a panel discussion featuring successful entrepreneurs who shared their experience in working with Private Equity and Venture Capital firms. Speakers on the panel included Mr. Raman Roy of Quatrro BPO, Mr. Sudhakar Ram of Mastek Software, Mr. Alok Kejriwal of Contests2win, Mr. Sanjeev Bikhchandani of Naukri.com and Mr. Raju Venkatraman of RevIT (now part of FirstSource). The panel was moderated by Raja Kumar K.E.C, MD & CEO of UTI Venture Funds, a leading Bangalore-based Private Equity firm.

The soft copy of the study report can be downloaded here. Email us at research@ventureintelligence.in for printed copies.

Arun Natarajan is the Founder of Venture Intelligence, the leading provider of information and networking services to the private equity and venture capital ecosystem in India. View free samples of Venture Intelligence newsletters and reports.

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