Bluspring Enterprises Limited , a leading infrastructure management services company, has announced the acquisition of an additional 2% stake in Vedang Cellular Services Private Limited. This move increases Bluspring's ownership in the telecom services provider from 96.98% to 98.98%, further solidifying its position in the telecom network services sector.

Transaction Details

The Board of Directors of Bluspring Enterprises approved the purchase of the additional equity shares from Mr. Ashish Kapoor for ₹4.16 crore. This transaction is in accordance with the Shareholder's Agreement dated October 25, 2017, and is expected to be completed within one month.

About Vedang Cellular Services

Vedang Cellular Services, incorporated on April 5, 2010, is a key player in the Telecom Network Operations & Maintenance space. The company provides training, consultancy, advisory, engineering, installation, and commissioning services in the cellular wireless telecom field. With a workforce of over 3,500 skilled technicians and engineers deployed across different client sites, Vedang has established a strong presence in 22 telecom circles across India.

Financial Performance

Vedang has shown significant growth in recent years:

This consistent revenue growth underscores Vedang's expanding footprint in the telecom services sector.

Strategic Implications

The increased stake in Vedang aligns with Bluspring's strategy to strengthen its position in the telecom network services industry. Vedang's strong industry relations, service offerings, and technical capabilities complement Bluspring's existing portfolio of infrastructure management services.

This acquisition is part of Bluspring's efforts to expand its presence in key sectors and enhance its service offerings. By increasing its ownership in Vedang, Bluspring aims to leverage synergies and potentially drive further growth in the telecom services segment.

The transaction, classified as a related party transaction, has been conducted on an arm's length basis, ensuring transparency and fairness in the deal structure.

As Bluspring Enterprises continues to evolve its business model and expand its market presence, this strategic move reinforces its commitment to the telecom sector and positions the company for potential future growth opportunities in this dynamic industry.

Bluspring Enterprises , a leading infrastructure management services company in India, has reported robust financial results for the second quarter ended September 30.

Key Financial Highlights

• Revenue surged by 14% year-over-year to ₹837.00 crore
• EBITDA increased by 22% quarter-on-quarter to ₹29.00 crore
• EBITDA margin improved by 41 basis points sequentially to 3.50%
• Profit After Tax (PAT) grew by 19% year-over-year to ₹16.00 crore
• Headcount expanded by 5% year-over-year to over 90,000

Segment Performance

The company's growth was driven by strong performances across its key business segments:

Facility and Food Services

• Added 14 new contracts with an annual contract value of ₹37.00 crore

Telecom and Industrial Services

• Strong growth in Industrials, securing 6 new contracts worth ₹40.00 crore in annual contract value

Security Services

• Man-guarding headcount increased by 16% year-over-year to over 23,000 guards

Management Commentary

Kamal Pal Hoda, Executive Director & CEO of Bluspring Enterprises, commented on the results: "We delivered a robust quarter of 14% year-on-year growth in revenues alongside a 19% increase in Adj. PAT with margins improving by 43 bps sequentially this quarter. Our leadership investments and improved operational efficiencies are now reflected in margin expansion and client additions. With 37 new clients onboarded at better margins and reduced client mobilization time, we expect these trends to continue driving robust growth and profitability."

About Bluspring Enterprises Limited

Bluspring Enterprises Limited is committed to delivering operational excellence through smart, sustainable, and secure experiences. With a nationwide workforce of over 90,000 professionals, Bluspring unifies six powerhouse brands – Avon, Indya Foods, Terrier, Hofincons, Vedang, and foundit – into a single, integrated ecosystem. The company provides services across various sectors, including educational institutes, airports, hospitals, manufacturing and industrial sites, public utilities, and corporate campuses.