Bluspring Enterprises Limited is a newly listed infrastructure management company in India, headquartered in Bengaluru. It offers integrated facility management, food service management, security services, and telecom network planning across various sectors. The company commenced trading on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on June 11, 2025, marking a key milestone as an independently traded entity.
The listing follows the successful execution of a three-way demerger from Quess Corp Limited, executed under a court-approved Scheme of Arrangement earlier this year. With a nationwide headcount of over 85,000 and six integrated brands — Avon, Indya Foods, Terrier, Hofincons, Vedang, and foundit — the company delivers technology-enabled services across sectors including airports, hospitals, utilities, and educational campuses.
Bluspring Enterprises Ltd (BLUSPRING) belongs to the Industrials sector and Business Support Services sub-sector. As an independent organization, Bluspring aims to become India's leading provider of infrastructure management services, poised to benefit from the country's ongoing infrastructure transformation and rising capital investments.
With an extensive pan-India footprint, the company offers a broad portfolio of digitally-enabled services across sectors including healthcare, industrials, and telecom. Its focus on operational efficiency, regulatory compliance, and digital innovation has resulted in a client retention rate exceeding 95 per cent.
Bluspring Enterprises Ltd posted a 15% year-on-year growth in revenue to ₹2,969 crore for Financial Year 2025. The company reported an EBITDA of ₹110 crore for the same period. These results reflect a strong performance, particularly in infrastructure management services.
While the company's top-line revenue grew steadily, a slight decline in EBITDA margin and a reported Net Loss for FY25 (₹824.78 crores) were attributed to some margin pressures and one-off factors related to the demerger scheme effective April 1, 2024, and exceptional items. The previous financial year (FY24) saw revenue of ₹2,682.07 crore and a net loss of ₹155.88 crore.
• Revenue (FY25): ₹2,969 crore (15% YoY growth)
• EBITDA (FY25): ₹110 crore
• Net Loss (FY25): ₹824.78 crore (due to demerger scheme and exceptional items)
• Revenue (FY24): ₹2,682.07 crore
• Net Loss (FY24): ₹155.88 crore
• Market Capitalization: ₹1,281.41 Crore (as of July 10, 2025)
• 52-week High (Post-listing): ₹89
• 52-week Low (Post-listing): ₹67.06
• Promoter Holding: 56.97% (as of Jun 2025)
Bluspring Enterprises Limited (BSL) is an integrated facility management service provider offering end-to-end solutions like Soft Services, Hard Services / Engineering Services, Production Support Services, Hygiene Services, and Technology Enabled Services. The company operates through multiple service verticals that cater to diverse industry requirements.
Key segments include:
- Facility & Food Services: Demonstrated double-digit growth.
- Telecom & Industrial Services: Maintained strong momentum.
- Security Services: Focused on margin improvement.
- 'foundit' (Job portal): Strategic focus on scaling with a goal of medium-term profitability.
The company is prioritizing cross-sell opportunities, digital enablement, and operational efficiency across all its verticals.
Bluspring Enterprises is well-positioned to capitalize on India's urbanization and infrastructure boom. The company aims to lead the next wave of transformation in infrastructure services by integrating advanced technology into areas such as energy and urban infrastructure. The strategic goal is to set new standards in service delivery, digitization, and client engagement, positioning Bluspring as a trusted partner in infrastructure services.
The management is concentrating on sales acceleration and operational efficiency to improve EBITDA margins, with a clear roadmap for profitability, particularly in high-growth verticals like foundit.
Ajit Isaac, Founder and Non-Executive Chairman, stated that the listing is a result of strategic foresight to build a purpose-driven infrastructure services organization, driven by excellence, agility, and innovation. Kamal Pal Hoda, CEO, highlighted the transformative nature of this period, emphasizing the company's strong revenue base, deep domain expertise, and a future-ready mindset as it begins its journey as an independent listed entity.
Promoter holding in Bluspring Enterprises Ltd has gone down to 56.97 per cent as of June 2025. The company's listing on public exchanges has opened up opportunities for institutional and retail investors to participate in its growth story.
Bluspring Enterprises represents a significant player in India's infrastructure management sector, with its strong operational foundation, technology-enabled service delivery, and strategic positioning to capitalize on the country's infrastructure development boom, making it an interesting proposition for investors looking at exposure to India's infrastructure services market.
