TTEC opens Mohali customer experience center, adds 400 jobs in India expansion strategy

TTEC Holdings, Inc. (NASDAQ: TTEC), a global customer experience (CX) technology and services company, has opened a new customer experience center in Mohali, Punjab, creating 400 jobs and expanding its India operations to support a U.S.-based healthcare client. The move, announced on May 6, 2025, is part of a broader strategy by TTEC to deepen its presence in India’s talent-rich secondary cities while aligning with enterprise demand for cost-effective, AI-powered CX delivery.

The Mohali facility, initially located in Phase 8B, Industrial Area, Sector 74, will relocate to Quark City—an IT cluster gaining traction in North India. The site will serve as a strategic offshore base for high-compliance industries such as healthcare and insurance, where TTEC sees growing opportunities for digital-first transformation. With the new center, TTEC’s total headcount in India will rise to nearly 3,900 across five cities.

Why Is TTEC Expanding in Mohali?

The decision to enter Mohali stems from a combination of talent availability, infrastructure readiness, and cultural alignment. The region’s high concentration of English-proficient graduates and proximity to Chandigarh’s universities make it a strong fit for voice and non-voice customer support operations. TTEC also cited the local ethos of seva, or selfless service, as resonant with its human-first CX culture.

This latest expansion underscores the company’s aim to diversify away from saturated metros while building delivery redundancy and scalable centers in Tier II cities. The new roles created will include customer service associates, team leaders, trainers, and quality assurance personnel, all trained on TTEC’s proprietary AI platforms.

What Technologies Will Power the Mohali Operations?

The Mohali Customer Experience Center will deploy a suite of proprietary TTEC technologies aimed at enhancing performance, knowledge access, and communication in real time. Employees will operate on TTEC Perform, an AI-powered performance enablement platform designed to deliver actionable coaching insights. The site will also implement TTEC Let Me Know, a generative AI assistant that accelerates data access during support calls, and TTEC Clarity, a speech enhancement system that improves voice communication through accent softening and real-time translation.

Together, these tools form the backbone of a digitally native CX workflow aimed at lowering handling times, improving first-contact resolution, and maintaining high satisfaction scores for clients, particularly in regulated and emotionally intensive sectors like healthcare.

How Does the Move Fit into India’s CX Sector Growth?

India remains a global epicenter for outsourced customer service and digital support operations. The business process outsourcing (BPO) industry in India was valued at USD 39.1 billion in FY24, with forecasts predicting steady growth through 2028 driven by AI integration and cross-channel service demand. Companies like TTEC are capitalising on this momentum by moving beyond traditional hubs such as Bengaluru and Hyderabad into emerging cities like Mohali that offer scalability, quality of life, and access to skilled talent.

TTEC’s expansion is a direct response to enterprise client expectations around agility, compliance, and multilingual capabilities. As CX delivery evolves toward omnichannel and AI-augmented models, India’s mix of affordability and digital literacy makes it indispensable to U.S. and EMEA clients seeking dependable 24/7 support coverage.

How Is TTEC’s Stock Performing in 2025?

As of May 6, 2025, TTEC Holdings Inc. was trading at USD 3.84, reflecting a modest 0.79 percent increase from the prior session. While this suggests short-term investor stability, the stock remains down nearly 50 percent from its 52-week high of USD 8.45. The past year has seen consistent downward pressure on TTEC’s share price due to shrinking operating margins, restructuring expenses, and heightened competition within the CX services sector.

Despite the bearish trajectory, Wall Street remains divided on the stock’s outlook. Two analysts currently rate it a “Buy,” while two maintain “Hold” ratings, resulting in a Moderate Buy consensus. The average price target across coverage firms is USD 10.83, implying a significant upside if execution improves. This divergence highlights a broader market uncertainty about the pace at which TTEC can translate its India-led savings into margin recovery.

What Do Institutional and FII/DII Flows Reveal?

TTEC’s institutional ownership currently stands at approximately 38 percent, with significant holdings from Vanguard Group Inc., BlackRock Inc., and Federated Hermes Inc. However, recent 13F filings indicate that several institutions have reduced their exposure to the stock, citing operating margin stress and earnings volatility. These moves reflect a short-term de-risking strategy amid macroeconomic headwinds.

Short interest in TTEC is elevated, with a short float of 18.95 percent and roughly 3.73 million shares sold short, translating to over 21 days to cover based on average trading volume. This level of short positioning suggests lingering pessimism about near-term profitability and cash flow.

In contrast, foreign institutional investors (FIIs) have shown signs of accumulation in Q1 2025, likely attracted by the scalability of TTEC’s offshore delivery model. Domestic institutional investors (DIIs), however, have remained neutral, taking a wait-and-see approach pending TTEC’s next earnings report.

What Can Investors Expect from Upcoming Earnings?

TTEC is scheduled to report its Q1 2025 earnings on May 8, with consensus forecasts calling for earnings per share of USD 0.24. Analysts will focus on revenue mix evolution, margin resilience from offshore operations, and new contract pipeline updates. The report could serve as a sentiment pivot if results exceed expectations, particularly in terms of EBITDA margin stability and top-line growth from digital services.

Given the elevated short interest and low stock valuation, an earnings surprise could trigger a technical rebound, potentially driving short-covering activity. On the other hand, any revenue softness or guidance downgrade may deepen bearish sentiment and extend the stock’s decline toward its 52-week low of USD 3.11.

How Does This Expansion Impact TTEC’s Strategic Outlook?

TTEC’s Mohali launch is emblematic of a broader reconfiguration of its global delivery architecture. The company’s pivot to India is driven not just by cost optimisation, but also by the region’s growing competence in analytics, AI engineering, and customer journey orchestration. Over time, the company appears to be positioning itself as a next-generation CX partner that blends offshore service with high-margin digital solutions.

The decision to base a healthcare account in Mohali also signals rising confidence in the city’s ability to meet industry-grade compliance and data security standards. This strengthens TTEC’s position as a preferred vendor for clients in highly regulated sectors like insurance, pharma, and banking—where data integrity and empathetic engagement are critical.

Historical Context and Broader Sectoral Relevance

TTEC’s expansion into Mohali follows a pattern being adopted across the global CX services industry. Firms such as Teleperformance, Concentrix, and Genpact have increasingly opted for Tier II Indian cities to mitigate wage inflation in established metros and tap into new workforce pools. This decentralisation trend is being accelerated by state-level digital infrastructure incentives under India’s broader “Digital India” vision.

By selecting Quark City in Mohali as its next technology hub, TTEC is betting early on the city’s evolution into a North Indian CX corridor. The presence of academic institutions, affordable talent, and improving civic infrastructure positions Mohali as a viable alternative to legacy delivery centers in South India.

What Is the Long-Term Outlook for TTEC in India?

Analysts expect TTEC to continue building out its India footprint over the next 12 to 18 months. Cities like Indore, Coimbatore, and Jaipur are seen as potential next destinations, offering favourable cost structures and emerging digital ecosystems. The company is also likely to expand into areas such as CX consulting, customer analytics, and Robotic Process Automation (RPA) to diversify revenue streams and build resilience against pricing pressure.

As more global enterprises transition to hybrid CX models blending automation and human support, TTEC’s India investments could serve as a foundational pillar in redefining its identity—not just as a BPO vendor, but as a full-spectrum digital services partner. If executed effectively, this strategy may improve operating leverage, expand margin bands, and rebuild investor confidence in the stock.