Mudra West has ended its financial year at a 30 percent growth rate and had bagged eight new businesses in 2010 that added to its performance. Arijit Ray, President, Mudra West, elated about the performance speaks to exchange4media.com on the agency’s expectations and the further agenda set for 2011.
As Ray explained, the agency had put forth a 15 percent revenue growth, but ended the year with 30 per cent growth. The agency exceeded their NBD (New Business Development) target by about 35 percent. Eight new businesses were won in 2010. In line with the goal, they were all sought-after and visible businesses. These businesses have been Emirates, Huawei, Philips, Electrolux, Kalpataru, L&T Mutual funds and an international assignment.
Speaking on some of the developments that added to Mudra’s performance, Ray said, “What worked most for us is the momentum. The efforts put in motion over the last couple of years have paid off. We had two very good years in 2008 and 2009. We won eight businesses that included ET, Femina, Lavasa, HCC, Lonely Planet, Filmfare etc. The quality of work moved up a few notches and the work was visible. In 2009 we fired at the Effies, and 2010 was a very successful year at the Goafest too.”
According to Ray, performance has its challenges and thus giving a divide on the agency’s organic and inorganic growth, Ray mentioned, “Compared to last year (2009-10) we grew our NBD conversion by 100 per cent this year. We grew our existing businesses by about 20 percent. While 20 percent of the revenues in 2011-12 will come in from new businesses won last year.”
Pleased with the agency’s performance at GoaFest 2011, an elated Ray said, “For the last 2 years we have significantly improved our tally at GOAFEST. This year was the culmination. There was huge impetus from Bobby (Pawar) and team at the group level. By virtue of being one of the largest offices of the group, we had to fire hard. KB Vinod (ECD, Mudra West) and team have done a phenomenal job and Mudra West’s tally to the overall tally has been really encouraging. This kind of performance significantly bolsters our creative and overall reputation. Additionally, it provides tremendous energy and inspiration within the ranks to keep raising the benchmark.”
On the agenda for 2011 from Mudra West, Ray stated, “We don’t have the luxury to let the momentum slip. We are looking at similar growth in revenue and equally ambitious new business. We are equally focussed in delivering enhanced value to our existing clients and help them with the challenges of a rapidly evolving market. 2011-13 will have to be the next “orbit shifting” for us. We have to add 2-3 prestige brands where one could do breakthrough, visible engagements. If we are looking at 25 to 30 per cent growth over the next 2 years, it has to be on the back of organic growth and few large new relationships.”