Net profit of BLS International Services rose 75.53% to Rs 138.23 crore in the quarter ended September 2024 as against Rs 78.75 crore during the previous quarter ended September 2023. Sales rose 21.40% to Rs 495.01 crore in the quarter ended September 2024 as against Rs 407.74 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales495.01407.74 21 OPM %33.1321.27 - PBDT181.6094.44 92 PBT163.9687.18 88 NP138.2378.75 76 Powered by Capital Market - Live News

BLS International Services will hold a meeting of the Board of Directors of the Company on 11 November 2024Powered by Capital Market - Live News

BLS International today announced that it has successfully completed the acquisition of 51% stake in SLW Media. SLW Media is a prominent sports management company with over two decades of experience in the golf industry. The acquisition will position BLS International as a global lifestyle and service brand, seamlessly blending premium leisure experiences with its core expertise in government and travel services. From a branding perspective, the synergy between golf events and BLS International`s visa and consular services creates a unique value proposition. This strategic combination highlights BLS International`s ability to cater to elite, high-net-worth individuals and corporate clients, enhancing its reputation as a provider of luxury, convenience, and exclusivity. Shikhar Aggarwal, Joint Managing Director of BLS International, said, We are quite excited on closing another acquisition within a span of few weeks of completing an acquisition in Dubai. By associating with prestigious golf events across the globe, BLS will not only strengthen its brand identity in the luxury segment but will also extends its reach into the upscale sports and leisure market, aligning its image with sophistication, global access, and high-level service. This synergy would effectively elevates brand perception, associating BLS International with not just efficient government services, but also a premium lifestyle experience.Powered by Capital Market - Live News

BLS International Services today announced the successful completion of its acquisition of 100% stake in Citizenship Invest (CI), a Dubai-based firm specializing in fast-track investor programs for residency and citizenship across more than 15 countries.BLS, through its wholly owned subsidiary BLS International FZE, UAE, acquired CI for a total purchase consideration of USD 31 million (Rs 260 crore), fully funded through internal accruals. All necessary government and regulatory approvals were obtained ahead of schedule.For the calendar year 2023, Citizenship Invest reported audited revenues of USD 9.6 million (Rs 81 crore) and an EBITDA of USD 4.4 million (Rs 37 crore), with a robust EBITDA margin of 45%. The company experienced notable growth in 2023, with a 28% increase in revenue and a 43% rise in EBITDA. Powered by Capital Market - Live News

BLS International Services today announced the signing of a definitive agreement to acquire a 100% stake in Citizenship Invest (CI), a Dubai-based advisory firm specializing in fast-track investor programs for obtaining residence and citizenship across more than 15 countries. The acquisition value of 100% stake is US$ 31.0 mn (~Rs 260 crore) and the transaction would be funded through internal accruals. The transaction is expected to be completed by 31 October 2024, subject to necessary approvals.This acquisition marks a strategic expansion of BLS portfolio in Visa & Consular services, particularly in long-term visa solutions such as citizenship and residency services. Over its 15 years of operation, CI has built a strong brand and goodwill among high-net-worth individual (HNWI) clients, establishing itself as a reliable entity for citizenship and residency visa applications. Leveraging BLS` extensive global network across 66 countries, the acquisition is expected to significantly boost overall processing volumes. Founded in 2009, Citizenship Invest has emerged as a key player in the citizenship and residency application market, offering services through 20 programs. To date, CI has successfully assisted over 1,800 clients from more than 85 nationalities, maintaining an impressive 99% application success rate - significantly higher than the industry average of 80%. For the calendar year 2023, Citizenship Invest reported audited revenues of U$ 9.6 mn (~Rs 81 Crores) and an EBITDA of US$ 4.4 mn (~Rs 37 Crores), reflecting a robust EBITDA margin of 45%. In CY23, the business witnessed a revenue growth of 28%, EBITDA growth of 43% and its margin expanded by 470 bps compared to CY22. Powered by Capital Market - Live News