CIEL HR hits ₹1,000 crore revenue; plans three acquisitions in fiscal 2025 – Industry News

Recruitment and HR solutions firm CIEL HR plans to acquire three companies in fiscal year 2025 to fulfil its inorganic growth ambitions and enter new markets.

“We have plans to acquire three companies in the areas of professional staffing, HR technology and integrated facilities management (IFM). One each in West Asia, Southeast Asia and India“- said K Pandiarajan, Executive Chairman, CIEL HR Group.

During a press conference on Tuesday, Pandiarajan announced that CIEL HR reported a revenue of ₹1,086 crore in fiscal 2024, up 36% year-on-year as compared to a revenue of ₹799 crore in fiscal 2023.

“We are delighted to announce that CIEL HR has achieved a significant milestone of crossing ₹1,000 crore in revenue in just nine years of its journey. This achievement underscores our steady growth trajectory driven by a strategic mix of organic expansion and strategic acquisitions,” he added.

The company had earlier acquired five companies for a total of ₹50 crore. Pandiarajan said the company is looking to raise over ₹80 crore through pre-IPO rounds to finance planned acquisitions.

CIEL Group had earlier announced its intention to raise ₹500 crore through an IPO by the third quarter of the current fiscal. Pandiarajan, however, did not comment on the IPO timeline, saying the company was currently in a “lull period”.

Founded in 2015, CIEL HR offers a comprehensive range of HR solutions, serving over 450 companies with temporary staffing and helping over 3,000 companies with permanent recruitment across sectors such as manufacturing, IT, financial services and infrastructure.

The company’s investors include Zoho founder Sridhar Vembu, CavinKare founder and chairman CK Ranganathan, and former Tata Sons Group CEO NS Rajan.