Bluspring Enterprises Limited has announced the incorporation of two wholly-owned subsidiaries on February 9, 2026, marking a strategic expansion into new business domains. The company informed BSE and NSE about these developments under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

New Subsidiary Details

The two newly incorporated entities are structured to pursue specific business opportunities:

Business Objectives and Strategic Focus

Bluspring New Horizon One Private Limited has been established to operate in the industrial and operating asset management domain. The subsidiary will pursue both organic and inorganic business opportunities within this sector.

Bluspring New Horizon Two Private Limited will focus on facility management services, including food supply services. This diversification represents the company's expansion into service-oriented business segments.

Transaction Structure and Compliance

Both subsidiaries have been incorporated as wholly-owned entities with 100% shareholding by Bluspring Enterprises Limited. The consideration involves complete subscription to share capital in cash.

Regulatory Disclosure

The incorporation has been completed without requiring any governmental or regulatory approvals. Company Secretary and Compliance Officer Arjun Sunil Makhecha signed the disclosure documents, ensuring compliance with SEBI regulations and circular requirements dated November 11, 2024.

The promoters and promoter group of Bluspring Enterprises Limited have no direct interest in these transactions, as these are newly incorporated wholly-owned subsidiaries established for business expansion purposes.

Bluspring Enterprises Limited conducted its Q3FY26 earnings conference call on February 4, 2026, providing detailed insights into financial performance, regulatory changes, and strategic initiatives. The company filed the earnings call transcript with stock exchanges on February 9, 2026, pursuant to Regulation 30 of SEBI LODR Regulations 2015.

Financial Performance Highlights

The company reported consolidated revenue of ₹844 crores for Q3FY26 (excluding investments vertical), representing 10% year-on-year growth and 1% quarter-on-quarter growth. EBITDA stood at ₹32 crores, up 12% year-on-year and 12% quarter-on-quarter, with margins improving to 3.8% from 3.1% in Q1FY26.

For nine months FY26, revenue reached ₹2,458 crores, growing 12% year-on-year with all three verticals achieving double-digit growth. The company secured new contracts worth ₹278 crores during the nine-month period.

Labour Code Implementation Impact

The Government of India notified new Labour Codes in November 2025, consolidating 29 existing labour laws into four comprehensive codes. The company assessed incremental liability of ₹29.8 crores relating to past service cost in gratuity and leave encashment, classified as exceptional items.

Management expects these costs to be largely passed to clients over time through existing contract safeguards that allow pricing revision during statutory changes. The company has initiated discussions with clients for wage structure revisions to comply with new Labour Codes.

Segment-wise Performance Analysis

Facility Management and Food Services delivered strong performance with Q3FY26 revenue of ₹521 crores, growing 11% year-on-year. The segment won new contracts worth ₹79 crores ACV during Q3FY26, with total annual contract value for the year reaching ₹189 crores. EBITDA margin improved to 4.5%, up 50 basis points quarter-on-quarter.

Security Services continued robust growth trajectory with Q3FY26 revenue of ₹173 crores, representing 15% year-on-year increase. The business added over 2,500 headcount in the last 12 months, achieving 12% year-on-year growth. Nine-month revenue stood at ₹489 crores, up 14% year-on-year.

Telecom and Industrial segment reported Q3FY26 revenue of ₹151 crores, remaining flat year-on-year due to delayed telecom rollouts. However, the segment achieved strong EBITDA margin of 9.9%, up 160 basis points, aided by cost optimization and operational efficiency measures. The company secured its first overseas project, deploying 50 resources outside India.

Foundit Turnaround Strategy

Foundit reported Q3FY26 revenue of ₹18 crores with 45% sales productivity increase from Q1FY26. The platform completed product revamp with enhanced UI/UX for both job seekers and recruiters, positioning foundit as a skills-first platform.

Management expects revenue uptick starting Q4FY26 with strategic sales and marketing investments. The company anticipates break-even within three quarters while maintaining disciplined cost management.

Operational Excellence and Future Outlook

The company maintains diversified revenue base with top 30 customers contributing 49% of revenue and eight sectors each contributing over 5% of overall revenue. Bluspring serves over 1,000 clients across 2,400+ sites with 91,000+ employees, managing 366 million+ square feet of space.

Management reiterated guidance of achieving 4% EBITDA margin while maintaining double-digit revenue growth. The company expects net debt levels to reach sub-100 crores by March 2026 with continued focus on working capital optimization and cash flow generation.