RPSG Group's Firstsource announces foray into Australia, New Zealand; to set up AI innovation labs

RP-Sanjiv Goenka Group-led specialist domain-led business process services (BPS) provider Firstsource Solutions Ltd has announced its operations in Australia and New Zealand. The company will be headquartered in Victoria, Melbourne, and will create over 400 new local jobs over the next five years. The announcement comes two days after Firstsource tied up with tech major Microsoft for digital transformation services. 

As per the plan, Firstsource will partner with Victorian education institutions to set up an "innovation lab" focused on AI, engineering, robotics, and digital experimentation.

Dr. Sanjiv Goenka, Chairman of RPSG Group and Firstsource, says the expansion of operations into Australia marks a “significant milestone” in Firstsource’s global growth strategy. "We see this as an important opportunity to leverage not just the immense opportunities the country presents, but also the outstanding support provided by the government in ease of doing business and building a stronger local economy. We are delighted by the support and partnership provided by the Victorian Government toward setting up our operations and look forward to contributing meaningfully to the growth and success of both our business and the local economy.”

Jacinta Allan, Premier of Victoria, says securing Firstsource’s Australia and New Zealand headquarters will create "hundreds of jobs" and boost the state's thriving digital innovation ecosystem. "Melbourne is Australia's leading tech city – it's no surprise that global leaders are continuing to invest in Victoria.”

Tim Pallas, Victorian Minister for Economic Growth, says: “Our world-leading education institutions, tech talent pool and innovation ecosystem are attracting more investors to expand into our state and create high-value jobs for Victorians.”

Firstsource's Victoria foray is expected to grow the state’s digital capabilities, leading to growth in the city's digital ecosystem. The company also plans to grow its presence across important geographies and capabilities. For Victoria, India is a major two-way trading partner, which was worth around $3.6 billion in 2023-24. The statement says over the last five years, software and IT services have accounted for 66% of Indian foreign direct investment in the state.

Firstsource on September 17 also announced a partnership with Microsoft, which will provide it with Azure’s suite of technologies, including Azure OpenAI Service, Azure AI Search, and Azure AI-Language. “These solutions will offer a multi-modal, multi-channel search experience, significantly improving effectiveness and personalisation for businesses," the company says.

The company in July this year unveiled Firstsource relAI (pronounced re-ly), a collection of AI-driven platforms, solutions, and services designed to propel digital transformation. Firstsource Solutions reported a 7.35% increase in net profit, reaching ₹135.25 crore in Q1 FY25, up from ₹125.99 crore in the same quarter last year. Revenue from operations surged by 16.8%, climbing to ₹1,783 crore in Q1 FY25, compared to ₹1,526.7 crore in Q1 FY24.