Financial Performance Summary

Q2 FY27 Financial Highlights (excluding foundit business):

  • Revenue: ₹1,250 Cr, representing +49% YoY growth and +34% QoQ growth
  • EBITDA: ₹67 Cr, showing +130% YoY growth and +90% QoQ growth
  • EBITDA Margin: 5.4%, expanding by 188 bps YoY and 156 bps QoQ
  • Profit Before Tax: ₹39 Cr, growing +159% YoY and +92% QoQ
  • PAT: ₹32 Cr, increasing +95% YoY and +96% QoQ
  • PAT Margin: 2.5%, expanding by 60 bps YoY and 80 bps QoQ
  • Diluted EPS: ₹2.1 per share, up +88% YoY and +92% QoQ
  • Headcount: 1,02,000+, growing +14% YoY and +6% QoQ

H1 FY27 Financial Highlights (excluding foundit business):

  • Revenue: ₹2,180 Cr, showing +35% YoY growth
  • EBITDA: ₹102 Cr, growing +93% YoY
  • EBITDA Margin: 4.7%, expanding by 141 bps YoY
  • PAT: ₹48 Cr, increasing +76% YoY
  • PAT Margin: 2.2%, expanding by 51 bps YoY
  • Diluted EPS: ₹3.1 per share, up +64% YoY

Segment-wise Performance Q2 FY27

Facility and Food Services:

  • Revenue: ₹601 Cr with 17% YoY growth
  • EBITDA: ₹29 Cr with EBITDA margin of 4.7%
  • Added 21 new contracts with Annual Contract Value (ACV) of ₹78 Cr
  • Completed acquisition of LSG Sky Chefs, entering high-margin aviation catering

Security Services:

  • Revenue: ₹201 Cr (all-time high) with 20% YoY growth
  • EBITDA: ₹6 Cr with EBITDA margin of 3.2%
  • Man-guarding headcount: 25,700+ guards, up 11% YoY
  • Added 20 new clients with ACV of ₹30 Cr

Smart Infra, Energy and Engineering (renamed from Telecom and Industrials effective April 1, 2026):

  • Revenue: ₹449 Cr with 189% YoY exponential growth
  • EBITDA: ₹49 Cr with EBITDA margin of 10.9%
  • Added 16 new contracts with ACV of ₹641 Cr

Investments - foundit:

  • Revenue: ₹22 Cr with 5% YoY growth
  • Sales: ₹30 Cr, up from ₹25 Cr in previous quarter
  • EBITDA: ₹(12) Cr (loss), improving from ₹(14) Cr loss in previous quarter

Segment-wise Performance H1 FY27

Facility and Food Services:

  • Revenue: ₹1,121 Cr with 13% YoY growth
  • EBITDA: ₹52 Cr with EBITDA margin of 4.7%
  • Added 61 new contracts with ACV of ₹167 Cr

Security Services:

  • Revenue: ₹387 Cr (all-time high) with 22% YoY growth
  • EBITDA: ₹12 Cr with EBITDA margin of 3.1%
  • Added 57 new clients with ACV of ₹73 Cr

Smart Infra, Energy and Engineering:

  • Revenue: ₹672 Cr with 119% YoY exponential growth
  • EBITDA: ₹70 Cr with EBITDA margin of 10.4%
  • Added 20 new contracts with ACV of ₹679 Cr

Investments - foundit:

  • Revenue: ₹41 Cr
  • EBITDA: ₹(26) Cr (loss)

Management Commentary

Executive Director & CEO Kamal Pal Hoda commented: "Our growth trajectory is now translating into stronger earnings. In Q2 FY27, revenue grew 49% year on year and profit after tax grew 95% to ₹32 crore. EBITDA margin expanded by 188 basis points year on year from 3.5% to 5.4%. This performance reflects our deeper presence in Energy through our acquisition of STEAG India and our expertise in Engineering services, which is supported by India's growing power demand and its focus on a robust domestic industrial base. The addition of LSG Sky Chefs India extends our Food & Hospitality business into high-margin aviation catering. Our priority now is to integrate our recent acquisitions fully into the Bluspring enterprise, which will help us unlock the benefit of our expanded scale, increase cross selling and deliver better returns to our shareholders."

Company Overview

Bluspring Enterprises Limited is India's only nationally scaled, people-powered, compliance-first, and tech-enabled integrated infrastructure services enterprise. It delivers services across Facilities, Food and Hospitality, Security (Powered by Terrier Security Services), Engineering (Powered by Hofincons), Smart Infrastructure (Powered by Vedang Cellular Services) and Energy (Powered by STEAG Energy Services India). With a workforce of over 100,000 operating across 28 states, Bluspring supports more than 1,000 customers across healthcare, education, BFSI, commercial, IT, manufacturing and industrial, government, and PSU sectors.