French firm Egis plans €75-m investment in India in five years

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February 27, 2021 1:00 AM

Egis is 75% owned by Caisse des Depots, a French public financial institution, while the remaining 25% stake is held by partner executives and employees.

Egis is 75% owned by Caisse des Depots, a French public financial institution, while the remaining 25% stake is held by partner executives and employees.Egis is 75% owned by Caisse des Depots, a French public financial institution, while the remaining 25% stake is held by partner executives and employees.

Bullish on Indian infrastructure sector, French engineering consulting firm Egis has drawn up a €75-million investment plan for India to fund growth through both organic and inorganic routes in the next five years. Since it set up base 25 years ago, it has invested around the same amount in India till now.

Egis is 75% owned by Caisse des Depots, a French public financial institution, while the remaining 25% stake is held by partner executives and employees.

Egis India has around 3,000 employees on its pay-roll and generates around €40 million revenue, mainly consultancy fees, in a year. The target is to take up the revenue to €66 million by 2026 and €75 million by 2027, Laurent Germain, CEO, Egis Group, told FE.

At the group level, Egis clocked €1.2 billion revenue in 2020 and has set a target of doubling the revenue by 2026. Currently, one-third of the revenue comes from France and the remaining from outside it. By 2026, 80% of the revenue should come from outside France.

“I am highly impressed with the Indian growth story especially in the infrastructure space. The government has a huge investment plan in the infrastructure sector. India has a very important place in our scheme of things and going forward, we will aim to further cement our position in India,” he said.

Elaborating on the company’s inorganic growth plan, Germain said Egis has already initiated talks with a couple of targets in the consultancy, engineering and operation & maintenance space.

“The ticket size of such acquisitions could be in the range of €5-20 million,” he said.

Corroborating the company’s trust in Indian capabilities and technological prowess, Egis India has recently started a design center, its first in Asia and second in the world.

The Gurgaon-based centre is now around 30-seater. The company plan to raise the capacity to 200 by 2022. The center would cater to the group’s international businesses.

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