BLS International To See Strong Margin Growth By Year-End Says Joint Managing Director

BLS International is expecting 400-500 basis points growth in margin by year-end, said Shikhar Aggarwal, joint managing director at BLS International.

The company is transitioning from partner-run centers to self-managed centers, a move that has already shown positive results. “Our margins increased by 27% in the first quarter, up from 21% last year. With changing regulations and our shift to self-managed centers, we expect a further 400-500 basis points growth in margin by year-end,” Aggarwal said.

The company recently acquired UAE-based Citizenship Invest for $31 million through its subsidiary, BLS International FZE. This acquisition marks BLS International's second major investment this year and a new step towards expanding its footprint in the citizenship and residency market.

This acquisition is particularly exciting because it positions the company at the forefront of a multi-billion-dollar global market, said Aggarwal.

Citizenship Invest, which generated $10 million in revenue last year, specialises in citizenship and second residency programs—a field that is rapidly expanding, Aggarwal told NDTV Profit.

The transaction is expected to be transformative for BLS International’s growth strategy. "Citizenship Invest reported an Ebitda margin of $5 million from just 300 applications, serving only a fraction of the 40,000 to 50,000 annual applicants in this market...With our extensive network spanning over 80 countries, we believe we can significantly increase our market share and revenue potential," he said.

The top executive projects robust gain in revenue and margins. The market is still in its nascent stages, and the company anticipates substantial growth. Its integration of Citizenship Invest will leverage its existing customer base and global reach to capture a larger share of this lucrative market, Aggarwal said.

When asked about targets, Aggarwal was optimistic but measured. The company aims to become a leading player in the industry. Although it is still refining targets, the company has high expectations for growth, driven by new market opportunities and upcoming contracts, he said.

Aggarwal also addressed the company's recent acquisition of iData, stating that the integration process has been highly synergistic and promising. “We are actively working to integrate iData into our operations and are exploring new tenders, where they have a strong market presence,” he said.