Demerged from Quess, infra service spin-off Bluspring eyes 18-20% CAGR, 6% margins in 5 years

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Infrastructure services company Bluspring, which demerged from Quess Corp on June 11, is targeting a compound annual growth rate (CAGR) of 18–20 percent and aims to expand its operating margins from 4 percent to 6 percent over the next five years.

With an aim to unlock value by the demerger, the Bluspring unit will house six established service brands across facilities management, food, industrial maintenance, telecom infrastructure, and security. It will manage over 360 million square feet of space, serving 3 million meals per month, and overseeing 25 percent of India's telecom tower infrastructure.

"We're not starting from scratch, we’re standing on a foundation of scale, legacy, and domain expertise," Kamal Pal Hoda, Chief Executive Officer, Bluspring, told Moneycontrol.

With the demerger, Quess Corp is positioning itself as a diversified business services group. While Quess focuses on high cash flow and dividend payouts, Digitide will retain earnings for strategic acquisitions.

Earlier, Quess Corp's founder and executive chairman, Ajit Isaac, told Moneycontrol that the demerged digital engineering company, Digitide, plans to scale to $1 billion in revenue, from $350 million, over the next five years.

Meanwhile, Hoda said Bluspring will pivot from traditional manpower-based contracts to outcome-driven and tech-integrated service models. The company will double on internet of things (IoT), automation, and artificial intelligence (AI), and aim to capitalise on India's massive infrastructure push of Rs 10 lakh crore annual capital expenditure on healthcare, logistics parks, education, and smart cities.

“India’s infrastructure boom from hospitals and highways to data centres and sports venues presents a decade-long runway,” Hoda added.

While Bluspring is structured as an asset-light company, it also retains an investment unit for acquisitions and special situations, which continues Quess’s history of successful inorganic growth.

“We’ve completed 24 acquisitions in the last 7-10 years,” Hoda added. “We’ll continue to look for adjacencies, underutilised assets, and opportunities where we can add value at scale.”

With a compliance-first culture, digital transformation agenda, and sharp focus on employee well-being, Bluspring is positioning itself as a future-ready player in a fragmented infrastructure services landscape.

“India needs integrated partners who can manage large-scale infrastructure from end to end — and we believe Bluspring is uniquely poised to deliver on that need,” the company said.

Uplift industrial workforce

Hoda also plans to address the long-standing issue of poor labour conditions in India’s industrial and infrastructure ecosystem.

He said that for the structural challenge faced by frontline workers, especially those deployed in remote manufacturing and plant locations, the company has launched pilot programs in partnership with clients to provide quality housing and nutritious food to employees.

They are aimed at enhancing worker well-being, reducing attrition, and boosting on-site productivity.