Team Lease Services Ltd

TeamLease Services Limited is one of India's leading providers of human resource services in the organized segment, delivering a broad range of human resource services to various industries. The company's services continue with entire supply chain of human resources in India, covering 3 E's - Employment, Employability and Education. The Company provides a gamut of HR services that include Staffing Services, Temporary Recruitment, Permanent Recruitment, Payroll Process Outsourcing, Regulatory Compliance Services, Vocational Training / Education and Assessments. TeamLease Services Limited was originally incorporated as a Private Company on February 02, 2000 with Registrar of Companies, Mumbai, as 'India Life Chakravarti Actuarial Services Private Limited'. The name of the Company was changed to Team Lease Services Private Limited on January 24, 2002. The Company was converted into a Public Limited and name of the Company was changed to Team Lease Services Limited on May 15, 2015. Further, the name of Company was changed to TeamLease Services Limited and a fresh certificate of incorporation was issued on July 24, 2015. In 2010, the company acquired IIJT. In 2011, the company entered into a memorandum of understanding with the Government of Gujarat to establish a private university and also co-founded Indian Staffing Federation' to professionalise the Indian staffing industry. The company also entered into a memorandum of understanding with the Government of Gujarat to establish a private university and in 2013 TLSU was established as a university under the Gujarat Private Universities Act. In 2014, the company established public private partnership project for apprenticeship (NETAP). In FY 2015, Company introduced India's first-ever Degree Apprenticeship (DA) Programme, a model specifically built to blend classroom learning with real, paid work experience. During the year ended 31 March 2016, TeamLease Skills University (TLSU), a Public-Private Partnership, with the Government of Gujarat, commenced operations and was among the few Universities selected by the United Kingdom Education Research Initiative (UKERI). In terms of the said initiative, the University has received grants that are to be utilized for faculty development. TeamLease Education Foundation is the sponsor of TLSU.During the year under review, the company's headcount crossed 110,000 including both core employees and associate employees. The company's apprenticeship program, launched through TeamLease Education Foundation (TLEF), crossed 16,000 apprentice enrolments during FY2016 of which about 4,000 trainees have been certified during the year. During the financial year ended 31 March 2017, TeamLease Services incorporated a wholly owned subsidiary company, TeamLease Staffing Services Private Limited, for the purpose of entering into IT staffing business. During the year under review, TeamLease Services' wholly owned subsidiary, TeamLease Staffing Services Private acquired 3 IT staffing companies viz. Asap Info Systems Private Limited, Nichepro Technologies Private Limited and Keystone Business Solutions Private Limited. Consequent to the acquisitions of these three entities the base platform of the company's staffing business has extended its arms to IT staffing business. In FY 2018, the company made investments in Cassius Technologies Private Limited and School Guru Eduserve Private Limited. During the year, the Company acquired Evolve Technologies & Services Private Limited (Evolve), IT and telecommunication staffing Company. The Company was acquired as a step-down subsidiary of its Company through TeamLease Digital Private Limited TDPL w.e.f. November 01, 2017. ASAP Info Systems Private Limited (ASAP) and Nichepro Technologies Private Limited, wholly owned subsidiaries of TDPL has been merged into TDPL vide approval of NCLT Chennai dated November 30, 2017 and NCLT Mumbai dated November 16, 2017. Subsequent to the merger, the name of TeamLease Staffing Services Private Limited was changed to TeamLease Digital Private Limited w.e.f. March 08, 2018. The members of the Company have approved the shifting of the Registered Office of the Company from the State of Maharashtra to the State of Karnataka i.e., from Office No. 6, 3rd Floor, C Wing, Laxmi Towers, Bandra Kurla Complex, Bandra (E), Mumbai, Maharashtra - 400051 to 6th Floor, BMTC Commercial Complex, 80 Ft Road, Koramangala, Bangalore - 560095. The Company received order from Regional Director, Western Region on October 25, 2018 and filed the same respective authority as on October 27, 2018. In FY 2018, the Company had made an investment of 30% stake in Cassius or Fresherworld on June 01, 2017. The Company has further acquired additional 21% stake and pursuant to such an investment, Cassius or Fresherworld became subsidiary company w.e.f. August 01, 2018. It acquired 33.33% stake in its subsidiary, Avantis - RegTech in FY 2018. The Company has Six direct and indirect subsidiaries, One Joint Venture, One Associate Company and One Public-Private Partnership as on March 31, 2019. During the year 2019, the Company had through its subsidiary, TDPL, acquired the IT Staffing vertical, of E Centric Solutions Private Limited, by way of business transfer/ slump sale arrangement. It acquired IT Staffing vertical of Ecentric, Hyderabad-based HR Services company in April and IMSI (IT Infra) in November 2019. The Company has seven direct and indirect subsidiaries, one Joint Venture, one Associate Company and one Public-Private Partnership as on March 31, 2020. In FY 2020, It increased equity stake to 100% in FW.com, a TeamLease Digital Company. It acquired further 36.17% stake in Subsidiary companies, Edtech in September and 4.89% equity stake in Avantis in October. The Company has eight direct and indirect subsidiaries, one Joint Venture and one Public-Private Partnership as on March 31, 2021. As on March 31, 2021, Company held 93.94% Stake in IMSI. During the year 2021, the Company acquired additional balance equity stake of 24% in E-Hire at an agreed consideration of Rs. 572 lakhs. During the year 2021, Company acquired additional equity stake of 37.14% in TeamLease Edtech Limited (TLEL), thereby increasing total stake to 78.43% in TLEL. The Company has seven direct and indirect subsidiaries and one Public-Private Partnership as on March 31, 2022. During the year 2022, Evolve Technologies & Services Private Limited (Evolve/Transferor), a step down Wholly Owned Subsidiary of TeamLease was amalgamated into TeamLease Digital Private Limited (TDPL/Transferee), Wholly Owned Subsidiary of the Company vide NCLT Order dated November 24, 2021. Additionally, Company through a Share Purchase Agreement sold its entire shareholding in IIJT Education Private Limited, effective on December 03, 2021. With this sale, IIJT Education Private Limited ceased to be a wholly owned subsidiary of the Company and/or a Group Company of TeamLease Group. As on March 31, 2022, Company held 100% Stake in IMSI, an IT Infra staffing company. In FY 2022-23, a new solution, Contractor Compliance', was launched. It launched an annual programme to enhance the holistic well-being of our people by focusing on four key elements: nutrition, physical activity, mental health, and financial wellness. In 2024, Company hired candidates for the manufacturing vertical. In addition, it launched workforce development solutions such as Hire Train Deploy (HTD) and Managed Training Services (MTS), to enhance workforce productivity and efficiency. The Company upgraded platform with latest technologies, including Node.js, microservices and Vue.js with enhanced security features. The Company acquired 90% Stake in TSR Darashaw HR, an 80% stake in Ikigai Enablers Pte. Ltd. Singapore and 30% of Crystal HR to enter the HR tech space in FY 2025. The operations were further expanded to Singapore and Dubai by acquiring the business of Specialized Staffing Division during the year.