Facility management services firm OCS Group (India) expects its revenue to more than double to Rs 1,000 crore in the next three years.
"The Bombay High Court has sanctioned the composite scheme of amalgamation and arrangement between Absotherm Facility Management and Cannon Hygiene (India) and OCS Group (India) to facilitate the formation of a single unified Indian entity of the global major OCS Group in facilities management.
"We now expect the company's revenue to touch Rs 1,000 crore by FY20 from the present Rs 450 crore," OCS Group (India) Managing Director Srikanth Kumar Swami told PTI here.
OCS Group (India) is part of UK-based OCS, an international group providing integrated facilities services across a range of sectors to over 100,000 clients in more than 50 countries.
Over the past three years, it has acquired service providers in India such as Absotherm Facilities Management (engineering), Radiant Hospitality Services (housekeeping) and Cannon Hygiene India (hygiene and sanitation).
"We are now consolidating our operations after recent acquisitions. The Indian arm is in the top 3 UK-origin companies in terms of employing people in India with a workforce of 16,000 expected to double by 2021," Swami said.
The group has already invested Rs 350 crore in the past two years and is now looking at consolidating leadership presence in retail, realty, hospitality, engineering and hygiene at work/ home. It is also focusing on emerging opportunities in healthcare, education, IT, aviation and sports in North India, among others.
The organised USD 650 million facility management service business in the country is growing at 17 per cent per annum.
"In India, we are already very well established in key sectors such as hotels, malls, manufacturing, commercial and residential and we intend to utilise our global and regional expertise to capitalise further on key markets including healthcare, aviation and education, amongst others," he said.
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