Krystal Integrated Services has acquired 100% equity stake in Citelum India from its current shareholders including Citelum S.A.S., France. Citelum India has become a wholly owned subsidiary of the company. The acquisition marks the company’s entry into the City Lighting & Urban Infrastructure segment and forms part of its strategy to build an engineering-led infrastructure services business.
The company is targeting annual revenue of Rs 300 to 350 crore from the new vertical over the next 3 to 4 years and plans to invest around Rs 100 crore in engineering capabilities, technology platforms and business expansion. The company plans to scale its operations across 30 to 40 cities in 12 to 15 states, with infrastructure services expected to contribute 12 to 15% of consolidated revenues.
Krystal Integrated Services is a leading integrated facilities management services company with a focus on healthcare, education, public administration, airports, railways and metro infrastructure, and retail sectors.
