Ma Foi closed the YTD (January - September 2005), recording a topline of Rs. 144.4 Crores as against Rs. 85.32 Crores for the same period last year, reflecting a growth of 69.3%. Net revenue was at Rs 42.8 Crores as against Rs 28.49 Crores for the corresponding period.

Ma Foi launched its wholly owned subsidiary in Iselin, New Jersey - Ma Foi Consultants USA Inc - on October 3, 2005. Headed by CEO Sunil Gandhi, Ma Foi Consultants USA Inc. will initially focus on Executive Search, Permanent Staffing across two sectors - Information Technology (IT) and Banking, Financial Services & Insurance (BFSI). Ma Foi's current clientele include the over 124 Fortune 500 companies and these two sectors presently contribute a major percentage of the company's revenue globally.

Mr. Pandia Rajan, Managing Director, Ma Foi Management Consultants Ltd. said, "We have been one of the first movers in the RPO segment and having realized the potential it offers in the wake of offshoring, it is a logical move to be present in the US markets," he added.

The rise of RPO industry is bringing the first major transformation to the recruitment industry in 30 years. An effective RPO arrangement involves standardized recruiting processes and platforms for workforce planning, applicant tracking and workflow. By specializing, an RPO firm can invest in the most efficient technology and processes. The results are a 60% reduction in hiring costs via a 40% reduction in hiring time. Ma Foi's comparative advantage lies in that they have well integrated HR Solutions with requisite bandwidth in all areas of HR.

Both the BFSI and Oil & Gas practices, which were launched earlier this year, progressed with new signups in both verticals. Ma Foi Lanka signed up with one of the leading MNC banks in Colombo for the outsourcing of their "Cards Marketing, Loans Marketing, Auto Loans Marketing & Mortgage Loans Marketing" functions. This is the first MNC bank to go with an agency and the trend is expected to move up in the future.

Speaking about Ma Foi's success in international locations, Mr. K. Pandia Rajan said, "Ma Foi today has presence in 8 countries and is planning to enter 4 more locations - Bahrain, Qatar, Kuwait and Australia, in 2006. This international corridor of Ma Foi has not only helped us focus on increasing cross-border migration of talent and inter-country assignments, but has also enabled us to give our employees the opportunity of exposure to the international market."

Flexi-staffing Market Hots Up
Increased pull from the IT & ITES segment have lead to a surge in the flexi staffing business as a whole and Ma Foi scaled up its deputee numbers to 16,139 by end of Q3. The total number of placements during the period crossed 68,362 across 30 countries. The Flexi staffing division continues to be a key performer contributing 43.4% percent to the topline.

Business Partner Network in India
Ma Foi will soon launch its business partner operations in Agra, Aurangabad and Rajkot bringing up the total count to 48 offices across the country (12 core centres and 36 business partners).

Ma Foi's Career Training Division - Ma Foi Academy leveraging on its strategic association with Tamil Nadu Adi Dravidar Housing and Development Corporation (TAHDCO) to enhancing employability of educated Tamil SC/ ST youth successfully rolled out the first 2 batches of training during the quarter. In addition to its existing business partner locations (Vizag & Bhubaneshwar), Ma Foi Academy will shortly open in 4 more locations across South India.

Notes to Editors:
Ma Foi is a 13-year-old public limited company. Having started in 1992 at Chennai with a focus on recruitment services, Ma Foi has grown to become the largest HR services provider in India. Ma Foi is committed to offer people and people related services, enhancing the net worth of human capital. Currently Ma Foi has a presence in 8 countries through 54 offices - India, UAE, UK, Singapore, Sri Lanka, Malaysia, Oman and the US, and over 1334 clients including 124 Fortune 500 Companies. Ma Foi has posted revenue of Rs.122 Crores for the year ending December 2004.
For further details on Ma Foi visit : www.mafoi.com.

Vedior is one of the world's largest recruitment companies and is a full-service recruitment provider with a diversified portfolio of brands targeting a broad range of industry sectors. Annual sales for 2004 were €6,467 million. From its global network of offices spanning Europe, America, Australasia, Asia, the Middle East and Africa, Vedior offers temporary and permanent recruitment as well as a number of complementary employment-related services such as outplacement, HR outsourcing, payrolling and training. Vedior has a leading market position in the provision of professional/executive recruitment in sectors such as information technology, healthcare, accounting, engineering and education. In order to meet client requirements for all categories of personnel, we also have a significant global network providing administrative/secretarial and light industrial recruitment.
For further details on Vedior, visit : www.vedior.com.