Mumbai: Integrated facilities management firm Embassy Services is eyeing USD 500 million (around Rs 3,500 crore) of topline in the next five years, on the back of rising demand for third-party service providers by enterprises, a senior company official said.
Facilities management (FM) is a professional management discipline focused on efficient and effective delivery of support services to organisations.
“The company began its operations as a facilities management services provider for Embassy Group’s residential and commercial portfolio. Over the period, we have evolved and we are now offering services to other enterprises as well,” company’s CEO and Managing Director Pradeep Lala told PTI.
According to industry estimates, the FM market in India is expected to grow at around 17 per cent to cross USD 19 billion mark in next five years.
“There is a lot of scope not just in the commercial office space segment but also in the industrial and warehousing sectors. Apart from this, real estate developers are also engaging with FM services providers for complete maintenance of their projects.
This gives us confidence of achieving USD 500 million of topline by 2025,” he said.
Founded in 1995, ESPL delivers end to end, integrated facility management and property management services to over 150 customers across 70 million sq ft across the country.
ESPL’s current revenue stands at USD 200 million and is present in 14 cities.
“By 2025, we plan to expand our presence to 30 cities covering a total of 200 million sq ft of space,” Lala added.
ESPL manages facilities for some of the most reputed brands in BFSI, IT, engineering, manufacturing, consulting, research, e-commerce, healthcare, retail, telecom and technology.
Lala further said the company will continue to invest in its manpower services business segment ‘TCFM’ for hiring talented professionals to take care of facilities and assets of its customers.
“The facility management market is in its growing stage. Adoption of disruptive technologies such as IoT and analytics, and robots and drones in the facility management area has changed the landscape of the business,” he said.
TCFM has a manpower of 7,000 trained personnel which it plans to increase to 50,000 by 2025.
He, however, did not divulge how much the company would be investing for this. “The TCFM business has a revenue of Rs 150 crore, which we expect to go up to Rs 1,000 crore by 2025,” Lala added.