ISS India plans to double its revenue to Rs 850 cr in CY 11

MUMBAI: Leading global facility service company ISS is eyeing to double its revenue to about Rs 850 crore this calender year (CY) in India in line with its growing operations in the country.

"Looking at the growth in demand for world-class service, we are expecting to double our revenue to Rs 800-850 crore in CY 11 in India. We are also targeting an organic growth of 20-25 per cent in CY 12," the Denmark-based company's Country Head, Jolly Kochery , told PTI here.

ISS Group recorded a total revenue of USD 14.1 billion in 2010, up 7.3 per cent over the last year, while operating profit increased 27 per cent to USD 800 million.

The company has operations in 53 countries in Europe, Asia, North America, South America and Australia and provides local and global standard for cleaning, catering, property services, office support and security services.

ISS Facility Services India began operations in 2005 with an investment of Rs 350 crore, and India has become the biggest growth driver for the firm in Asia Pacific as well as global level with increasing demand for world-class outsourcing services, Kochery said.

"We are competing with the unorganised sector and we expect 2012 will be as positive as 2011."

The company, which currently enjoys 1.5 per cent market share of the total organised Rs 700-billion segment, is planning to raise it to 3.5 per cent by 2014, he said.

The total employee strength of ISS India is 47,000 and the company is planning to add another 8,000-10,000 to its rolls in CY 11 in line with its expansion.