New Delhi, Jan 24 (Agencies): Indian companies might be on an acquisition spree but when it comes to post-merger scenario, a PwC India survey has found that many entities did not quantify or monitor the progress related to integration.

Leading advisory firm PwC India on Monday said that only 49 per cent of respondents were able to achieve the objectives set for a particular M&A transaction.

Over 100 CXOs -- comprising CEOs, CFOs and CIOs – from various Indian companies participated in the 2010 Post Merger Integration Survey.

Sixty-three per cent respondents did not quantify and monitor the progress and completion of the integration objectives set at the time of acquisition, PwC said.

"Indian companies are focusing on the new area of inorganic growth. In such a scenario, they need to focus on various factors related to post-merger integration," PwC India's Associate Director and Head (Delivering Deal Value practice) Salil Agrawal said.

According to the survey, just about 37 per cent of the participants estimated the cost of integration and out of them, only 22 per cent were correct with their estimates.

"... 78 per cent respondents overran their integration budget," it added.

As per the report, only 39 per cent of the participants said that the M&A team were involved in the post-merger integration phase.