The India arm of global foodservice company Compass Group, rival to more familiar Sodexo, is confident about closing the fiscal year ended September 2023 with an over 50% growth, Managing Director Vikas Chawla told DH in an exclusive interaction on Thursday. The brand is furthermore targeting a sustained 25-30% growth in the years to come, as the base effect from disruptions induced by the Covid-19 pandemic rides off.
Understated and social-media dormant by choice, Chawla believes in a happy and empowered workforce. The multiplier effect cannot be compared to growth driven from the top, he argued.
Placed at the helm of the company in March earlier this year, he aims to penetrate deeper into the 45-plus cities the brand is currently present in. With an open mind towards both, the organic and inorganic routes, for expansion, Chawla admitted to ongoing discussions for acquisitions in the near future. “ If we find the right target, we'll move very fast,” he remarked.
The company, which places a 70:30 focus between its food and facility management businesses, enjoys a roughly equal revenue stream from its onsite and offsite kitchens. Under Chawla, it has renewed its focus to acquire new clientele from the education, healthcare and manufacturing sectors, going forward.
Compass group India commands a workforce of 30,000 presently, with the number growing by 1,000 every month. “We want to multiply the business by 10 times the current size in 5-7 years,” he noted.
Even as the company’s offerings fall on the higher end of the spectrum, Chawla listed ‘food from home’ as the top competitor in the India market. Elaborating on dominating trends, he pointed out increased consciousness towards health and wellness, especially following the Covid-19 pandemic.
Published 21 September 2023, 19:23 IST