Bengaluru: Bengaluru-based Bluspring Enterprises Limited, an integrated infrastructure services enterprise demerged from Quess Corp last year, has drawn up an ambitious plan to achieve an annual turnover of Rs 5,000 crore in the next three years.
Growth will be driven by scaling high-margin businesses such as Food & Hospitality and entering new opportunities in the sports, events, and hospitality sectors.
The company aims to grow the business through both organic and inorganic means to build a differentiated, nationally-scaled integrated infrastructure services enterprise, said Kamal Pal Hoda, Executive Director and CEO, Bluspring Enterprises.
In less than a year, the company has made two acquisitions.
"We are targeting a consistent 20% year-on-year growth through 2030, with the ambition of achieving Rs 3,400 crore by FY26 and Rs 5,000 crore by FY28. This will be supported by a continued focus on margin expansion and improving EBITDA from the current level of 4% to 6% by FY28," Hoda told DH.
The food and hospitality space currently contributes approximately 15% of the revenue, and it aims to increase that to 30% of total revenue, he said.
Recently, Bluspring acquired 100% of the shares in STEAG Energy Services India Private Limited, a wholly-owned subsidiary of STEAG Power GmbH, a leading German energy company.
Its other wholly-owned subsidiary, Bluspring New Horizon Two Private Limited (BNHTPL) has entered into a definitive agreement to acquire 100% shareholding of LSG Sky Chefs (India) Private Limited (LSG India), marking its strategic entry into the aviation catering sector. LSG India is ultimately owned by AURELIUS, a global private equity investor widely recognised for its operational approach, and operates airline catering facilities at Bengaluru and Hyderabad airports.
Supported by a workforce of over 400 employees, LSG India's Bengaluru operations generate revenue of over Rs 110 crore and mid-to-high-teens EBITDA margins.
"We are bullish about the food business where we have better margins. Engineering services is another area that is attractive for us to look into for future growth," Hoda said.
Currently, Bluspring delivers 3 lakh meals a day across its clients and expects to earn Rs 400 crore revenue from the food business by the end of FY2026.
"We will double our revenues in three years since the demerger from Quess Corp with about 30% CAGR," Hoda added.