I have PMS with India infoline. It;s been a year and they have showed me a loss of 50%. It is very difficult to get hold of any body in their office here in Bangalore. It took me 3 weeks and zillion phone calls to get a simple profit and loss account to file my taxes. Well it was capital loss though.
In general I do not recommend to open Portfolio Management account with them. They are not professional. I lost money. Initially they committed for a quarterly payment, which never happened. Extremely bad service.
I cannot also suggest other PMS services offered by other financial firms. But before you give your hard earn money to manage your portfolio, have a written agreement to get returns on monthly or quarterly basis. Since it is very difficult to time the market, make sure that they put in money in those stocks to at least give a decent returns if not fantastic returns.