TeamLease Completes Full Acquisition of TSR Darashaw HR Services, Strengthening Managed Payroll Services

Teamlease Services has announced the completion of its acquisition of TSR Darashaw HR Services Private Limited (TSR Darashaw), marking a significant expansion in its managed payroll services portfolio. The company, which had previously acquired a 90% stake in TSR Darashaw on December 20, 2024, has now secured the remaining 10% stake, making TSR Darashaw a wholly-owned subsidiary as of November 7, 2025.

Acquisition Details

Aspect	Details
Initial Acquisition	90% stake on December 20, 2024
Final Acquisition	10% stake on November 7, 2025
Total Stake	100% (Wholly-owned subsidiary)
Acquisition Cost	1.9x of Revenue
Payment Method	Cash consideration

About TSR Darashaw

TSR Darashaw HR Services Private Limited, incorporated on April 23, 2018, is a leading provider of HR services, specializing in:

Payroll processing
Reimbursement processing
Full & final settlements
Investment proof checking
MIS reports
Email helpdesk
Web-based employee services

The company has shown consistent growth over the past three years:

Financial Year	Revenue (in Crores)
2024-25	10.10
2023-24	9.22
2022-23	9.20

Strategic Implications

This acquisition strengthens TeamLease's position in the managed payroll services space in India. TSR Darashaw brings to the table:

A client base of 70 enterprises
Over 1.65 lakh payroll records
Normalized Operating PBT margin of 20% (FY25)

Management Commentary

Ashok Reddy, Managing Director & CEO of TeamLease Services Limited, commented on the acquisition: "Our acquisition of TSR Darashaw's payroll processing business provides crucial infrastructure for our vision of becoming India's largest Human Capital Management (HCM) service provider. This transaction enables us to serve over 450 Corporates, managing 465,000 payroll records, in addition to the 350,000 payroll records already handled within our employment cluster."

Market Impact

The completion of this acquisition aligns with TeamLease's strategic vision to strengthen client partnerships by offering innovative, differentiated business solutions and delivering talent at scale. It also positions TeamLease to capitalize on the growing demand for outsourced HR and payroll services in India's evolving business landscape.

As TeamLease continues to expand its service offerings and client base, investors and market watchers will be keen to observe how this acquisition translates into revenue growth and market share expansion in the coming quarters.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+2.16%	+2.97%	-3.85%	-7.43%	-36.85%	-26.36%

TeamLease Services Limited , one of India's leading staffing companies, has announced its financial results for the second quarter, showcasing robust growth across key metrics.

Financial Highlights

The company reported a consolidated net profit of ₹27.84 crore for Q2, marking an 11.9% increase from ₹24.85 crore in the same quarter last year. This growth was supported by a strong performance across various business segments.

Metric (in Crore Rupees)	Q2 Current	Q2 Previous	YoY Change
Revenue from Operations	3,032.07	2,796.83	+8.4%
Total Income	3,040.77	2,807.52	+8.3%
EBITDA	38.00	33.00	+15.2%
EBITDA Margin	1.3%	1.2%	+10 bps
Profit Before Tax (PBT)	29.01	25.91	+12.0%
Net Profit	27.84	24.85	+11.9%

Operational Performance

TeamLease Services demonstrated strong operational growth during the quarter:

Total headcount reached 362,000, a 3% increase year-over-year
General Staffing headcount grew to 303,350, up 2% from the previous year
Degree Apprenticeship program saw a significant 14% growth, reaching 51,600 apprentices
Specialized Staffing increased by 6% to 7,050 employees

Segment-wise Performance

General Staffing

Revenue grew by 4% quarter-on-quarter
37 new client logos added, with over 65% under the variable model
23% of Q2's net headcount came from new client acquisitions
23% of gross associates hired were first-time job seekers

Degree Apprenticeship (DA)

Net addition of 2,600 headcount in Q2
19 new logos added during the quarter
31% of total associates have fully adopted learning solutions

Specialized Staffing

Gross revenue increased by 8% quarter-on-quarter and 28% year-on-year
Organic year-on-year growth stood at 17%
320 net additions, including 25 from Singapore operations
GCC (Gulf Cooperation Council) segment contributed over 60% of net revenue

HR Services

Achieved breakeven EBITDA for the quarter, driven by EdTech billing improvements
Managing over 3.5 lakh monthly records in the HCM (Human Capital Management) business

Management Commentary

Ashok Reddy, Managing Director of TeamLease Services Limited, commented on the results: "We had an overall decent quarter with 11,000 net adds and 24% QoQ growth in EBITDA. Our GCC-focused approach in Specialized Staffing with diversified product offerings has helped with growth momentum in both revenues and profits. While BFSI headwinds in general staffing persist, contributions from retail, e-commerce, consumer, and telecom verticals are promising. We are confident of expanding the overall EBITDA for the year with continued focus on growth and operating leverage."

Future Outlook

TeamLease Services appears well-positioned for continued growth, leveraging its diverse service offerings and strong market presence. The company's focus on specialized staffing, particularly in the GCC region, and its growing apprenticeship program are expected to be key drivers of future performance. However, investors should note the potential challenges in the BFSI sector, which may impact the general staffing segment.

As TeamLease Services continues to expand its client base and diversify its service offerings, it remains a significant player in India's evolving human resource solutions landscape.