Compass Group India, the wholly owned subsidiary of British Multinational Compass Group Plc, a major provider of contract food and support services to companies, educational institutions and hospitals, said it aims to grow its support services business fivefold in the next five years . The company has chalked out plans to expand its services in the manufacturing sector that has got a leg-up from the Centre’s ‘Make in India’ initiative.
“Compass Group India targets a substantial growth rate of 45% in the next 3 years. Our goal is to scale our offerings by as much as 10 times in the upcoming 5-7 years,” CEO & MD Vikas Chawla said in an interview.
“Our objective is not just to enter the market, but to make a significant impact that exceeds the set benchmarks while aligning with our clients’ needs,” he added.
Mr. Chawla said the company’s business was growing at a phenomenal rate, much higher than the industry average.
“The idea is to have a business in India by expanding and widening our offerings to multiple sectors. Bolstering our presence in the manufacturing, education, and healthcare sectors. We are exploring partnerships with potential emerging start-ups/ associations/ individuals for continuous growth of both the services,” he said.
Currently, nearly 50% of the company’s food business is oriented around Business and Industry (B&I) customers.
Mr. Chawla said the company would go for acquisitions and would have 25-30% growth via acquisitions in the coming fiscal.
The company has employed more than 31,000 people in India, of which 30% are women. Its catering business delivers 600,000 meals a day at over 450 client locations across 45 cities in India.
“Our strategy is to focus on food services and targeted support services, particularly from first-time outsourcing. Our model for creating value remains unchanged based on our three key strategic pillars of People, Performance and Purpose,” Mr. Chawla said.
