TeamLease acquiresstake in TSR Darashaw and Crystal HR to expand its HR Services portfolio

TeamLease Services Limited (TeamLease/Company) (NSE: TEAMLEASE, BSE: 539658), one of India's largest Staffing Companies, today announced execution of definitive agreement with TSR Darashaw HR Services Private Limited ("TSR Darashaw"). The Company also announced availing of Board approval, to acquire stake in Crystal HR and Security Solutions Private Limited ("Crystal HR"). These transactions are conditional to the fulfilment of customary closing conditions and other statutory approvals.

About TSR Darashaw

TSR Darashaw is recognized as a leading provider of outsourcing services in the industry. With over four decades of expertise and a steadfast commitment to Integrity, Service Quality, and Client Satisfaction, TSR Darashaw and its subsidiaries proudly serve some of the country's most esteemed corporates.

The core competency of TSR Darashaw HR Services lies in delivering value via highly customized payroll processing solutions to multi-locations, multi-business-unit requirements of clients.

Mr. Darashaw Keki Mehta, Director, TSR Darashaw HR Services Private Limited said, "Joining forces with TeamLease allows us to leverage their inherent domain capabilities apart from their top-notch talent to deliver even greater value to our clients. Our collective full spectrum will help our clients to continue to embrace their journey. We are enthusiastic about the opportunities going forward."

About Crystal HR

Crystal HR is revolutionizing workforce management by delivering comprehensive HR Tech software solutions, from hire to retire, under its brand "Wallet HR". These solutions are designed to be configurable, meeting the diverse needs of businesses across industries.

With a strong presence across multiple countries, Wallet HR supports over 3 lakh users and serves more than 400 customers across various verticals.

With over 35 years of combined experience in HRM software development, implementation, and consulting, the company's promoters have built a legacy of excellence. Supported by a team with deep domain knowledge, Crystal HR excels in understanding client needs, addressing specific HR challenges, ensuring transparency, and delivering exceptional post-sales support that builds long-term relationships and drives repeat business.

Mr. R.S. Raman, Founder and CEO of Crystal HR said, "We are delighted to see our team, associates, and clients join forces with a market leader like TeamLease, paving the way for future growth and enhanced service delivery. Crystal HR aligns seamlessly with TeamLease's strategic vision of strengthening client partnerships by offering innovative, differentiated business solutions and delivering talent at scale in the markets we both serve."

Mr. Ashok Reddy, Managing Director & CEO, TeamLease Services Limited commenting on the above referred acquisitions said, "Our acquisition of TSR Darashaw's payroll processing business and Crystal HR provides crucial infrastructure for our vision of becoming India's largest Human Capital Management (HCM) service provider. These transactions enable us to serve over 450 Corporates, managing 465,000 payroll records, in addition to the 350,000 payroll records already handled within our employment cluster. While Crystal HR offers us a stable, full-spectrum HRMS platform, TSR Darashaw grants access to some of the largest enterprise clients in managed payroll."

Shares of Teamlease Services Limited was last trading in BSE at Rs. 2941.15 as compared to the previous close of Rs. 2972.45. The total number of shares traded during the day was 2109 in over 417 trades.

The stock hit an intraday high of Rs. 3002.95 and intraday low of 2872.45. The net turnover during the day was Rs. 6210668.00.

Source : Equity Bulls

Keywords

TeamleaseServices INE985S01024 Acquisition TSRDarashaw CrystalHR