French engineering firm Egis to invest Rs 430 crore in India
Government's thrust for fast-paced infra development has pushed the MNC to increase its focus on India.
- Nov 11, 2021,
- Updated Nov 11, 2021 5:43 PM IST
Engineering and consulting services major Egis Group will be investing Rs 430 crore (€50 million) over the next five years to strengthen its foothold in India. With the Indian government's steady push for fast-paced infrastructure development, the French multinational is now looking to grow its presence here by acquiring smaller firms and strengthening its portfolio in areas like railways and water management, a top company official said.
In lieu of the country's growing importance due to massive development of public infrastructure, Egis has already developed a state-of-the art global design centre at Gurugram. In its 25 years of existence in India, Egis has so far invested Rs 640 crore (€75 million). Its India operations is the second largest outside of France, in terms of people employed.
However, the government's growing push over infra even during the pandemic and, resultantly, opening up of newer opportunities like piped water supply and management in rural areas, new metro rail projects and national highways, has forced the company to hire 500 people locally in 2021.
"Over the last 25 years we have invested €75 million and now we are planning to invest €50 million within the next five. This itself shows the growing importance and activities in India. In 2021, so far, our order intake has grown by 108 per cent -- higher than any of our competitors" said Laurent Germain, CEO, Egis Group.
According to Germain, the group is now looking to grow its India business to Rs 640 crore a year by 2026, from Rs 380 crore now. This, he says, is part of the group's global plans to double its revenue to €2.5 billion in five years from €1.22 billion.
The performance of the India unit has provided the much-needed impetus to its growth plans so far. According to the company, in last one year, Egis India has bagged over 65 new projects that include Surat Metro Project, project management consultancy (PMC) for various National Highways, Faridabad and Jaipur smart cities, Prestigious Green highway project and various Rural Water Supply Projects especially in North East India.
The PMC for soon to be inaugurated Purvanchal Expressway - a 341 Kms, 6-lane highway connecting Uttar Pradesh's Lucknow and Ghazipur -- was done by Egis.
To fuel its growth in India, Germain is now looking to acquire one or two companies that will further aid its top-line. In the last one year, the group has acquired 16 companies globally, he said.
Also Read: Zomato pumps in $275 mn in 4 startups in 6 months; eyes investment worth $1 bn in India
Engineering and consulting services major Egis Group will be investing Rs 430 crore (€50 million) over the next five years to strengthen its foothold in India. With the Indian government's steady push for fast-paced infrastructure development, the French multinational is now looking to grow its presence here by acquiring smaller firms and strengthening its portfolio in areas like railways and water management, a top company official said.
In lieu of the country's growing importance due to massive development of public infrastructure, Egis has already developed a state-of-the art global design centre at Gurugram. In its 25 years of existence in India, Egis has so far invested Rs 640 crore (€75 million). Its India operations is the second largest outside of France, in terms of people employed.
However, the government's growing push over infra even during the pandemic and, resultantly, opening up of newer opportunities like piped water supply and management in rural areas, new metro rail projects and national highways, has forced the company to hire 500 people locally in 2021.
"Over the last 25 years we have invested €75 million and now we are planning to invest €50 million within the next five. This itself shows the growing importance and activities in India. In 2021, so far, our order intake has grown by 108 per cent -- higher than any of our competitors" said Laurent Germain, CEO, Egis Group.
According to Germain, the group is now looking to grow its India business to Rs 640 crore a year by 2026, from Rs 380 crore now. This, he says, is part of the group's global plans to double its revenue to €2.5 billion in five years from €1.22 billion.
The performance of the India unit has provided the much-needed impetus to its growth plans so far. According to the company, in last one year, Egis India has bagged over 65 new projects that include Surat Metro Project, project management consultancy (PMC) for various National Highways, Faridabad and Jaipur smart cities, Prestigious Green highway project and various Rural Water Supply Projects especially in North East India.
The PMC for soon to be inaugurated Purvanchal Expressway - a 341 Kms, 6-lane highway connecting Uttar Pradesh's Lucknow and Ghazipur -- was done by Egis.
To fuel its growth in India, Germain is now looking to acquire one or two companies that will further aid its top-line. In the last one year, the group has acquired 16 companies globally, he said.
Also Read: Zomato pumps in $275 mn in 4 startups in 6 months; eyes investment worth $1 bn in India