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BLS International secures Schengen Visa outsourcing contract

Oct 16, 2023

By: BlinkX Research Team

BLS International Services Ltd. has clinched the Schengen global visa outsourcing contract for Slovakia across 18 countries, boasting a network of over 54 offices. This new responsibility encompasses not only tourist and business visa services but also national visa services, streamlining travel and immigration processes. In 2021, Slovakia welcomed 2.64 million tourists, and this figure is projected to rise in line with travel trends. Shikhar Aggarwal, the joint managing director of BLS International, expressed enthusiasm about enhancing the visa application experience in alignment with Schengen principles. He emphasized the growing allure of Slovakia as a tourism destination.

BLS International specializes in outsourcing services for diplomatic missions and governments. Recently, the company briefly suspended Indian visa services in Canada due to operational reasons, later attributing the back-and-forth messaging to a technical glitch. The impact on the company's finances from this suspension is expected to be minimal, accounting for less than 2 percent of last year's revenue. Currently, BLS International shares are trading at Rs 266.20, marking a 6.4% increase. Year-to-date, the stock has surged by 55% and is approaching its record high of Rs 302.