Exult Inc, a US-based firm that provides human resources services to companies, is setting up a business process outsourcing unit in Mumbai to service overseas clients, a senior official said.

The California-based company's key clients include Bank of America, BP, Prudential Financial and International Paper Co.

"We have opened a BPO centre for client services in Mumbai and are in the process of hiring up to 300 people by the end of the second quarter," William McCarthy, senior vice-president of third party operations, told Reuters late on Monday.

The facility will offer payroll management, some accounting services, call centre and training services, he said.

The company plans to open a second centre in India later and roll out more human resources related services, McCarthy said.

The firm currently works with Indian software firms HCL Technologies and Hexaware Technologies for IT services and support.

Many overseas companies have outsourced back-office functions to Indian firms, or set up their own units to service global clients from India which is a cheaper location with large skilled workforce.