TeamLease completes acquisition of TSR Darashaw, making it a Wholly Owned Subsidiary
TeamLease completed the acquisition of TSR Darashaw, making it a Wholly Owned Subsidiary, and previously announced the acquisition of a stake in Crystal HR to expand its HR services and HCM market position.
The acquisitions significantly strengthen TeamLease's position in the Managed Payroll and Human Capital Management (HCM) sectors, adding a substantial client base and revenue, which has a high strategic impact on the company's long-term business.
The completion of an acquisition and the strategic rationale behind expanding HR services and market position are positive indicators for company growth and integration.
* TeamLease Services Limited acquired an additional 10% stake in TSR Darashaw HR Services Private Limited (TSR Darashaw) on November 07, 2025, making it a Wholly Owned Subsidiary. * This follows an earlier acquisition of a 90% stake in TSR Darashaw on December 20, 2024. * TSR Darashaw, incorporated on April 23, 2018, provides HR services, including payroll processing, serving 70 enterprises with over 1.65 lakh records. Its revenue was ₹10.1 crore in FY25, ₹9.22 crore in FY24, and ₹9.20 crore in FY23. The normalized operating PBT margin was 20% in FY25, and the acquisition cost was 1.9x of revenue. * On December 20, 2024, TeamLease also announced the Board's approval to acquire a 30% stake in Crystal HR and Security Solutions Private Limited, with plans to acquire the remaining 70% in multiple tranches over four years. * Crystal HR, incorporated on September 26, 2011, specializes in HR technology, offering digital workforce solutions under its "Wallet HR" brand, supporting over 3 lakh users and serving more than 400 customers. Its revenue was ₹10.50 crore in FY24, ₹9.06 crore in FY23, and ₹6.97 crore in FY22, with an operating PBT margin of 15% in FY24. The acquisition cost for Crystal HR was 2.4x of revenue. * Mr. Ashok Reddy, MD & CEO of TeamLease Services Limited, commented that these acquisitions provide crucial infrastructure to become India's largest Human Capital Management (HCM) service provider, enabling them to serve over 450 corporates and manage 465,000 payroll records, in addition to their existing 350,000.
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Teamlease Services Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Teamlease Services Limited. Read the original for the full detail.