Australia has signed two business deals with Sundaram Business Services (SBS), the business process outsourcing arm of Sundaram Finance Ltd., which will aid the latter's expansion plans in the Asian nation.

In a statement, SBS said it cornered two agreements with a Sydney-based company to take on mortgage processing work from India and with a Melbourne-based research company for high-end equity research back office work, apart from the other deals it signed with some new pension fund administrators and accountants across Australia.

SBS, with a 200-man team in Chennai servicing more than 30 Australian customers, targets to increase its Australian business by 50 per cent this year to help jack up revenues from the region in the next few years.

"Our revenue from Australia is about Rs 15 crore currently. We are seeing strong demand in this market and with the new deals we are signing, we expect to double this (revenue) in the next few years," Rajesh Venkat, SBS CEO, said.

"We plan to consolidate and strengthen our dominant position in Self Managed Superannuation Funds (SMSF) vertical, while at the same time focus on growing and establishing a strong presence in our newly launched services like mortgage processing, portfolio management, equity research and virtual CFO services," Mr Venkat added.