TeamLease Services to Acquire TSR Darashaw and Invest in Crystal HR

TeamLease Services is expanding its presence in the HR space with two significant acquisitions: a majority stake in TSR Darashaw HR Services and an investment in Crystal HR and Security Solutions, further strengthening its payroll and HR technology offerings.

TSR Darashaw

TeamLease has signed an agreement to acquire 90% of TSR Darashaw HR Services for ₹17.6 crore, with plans to buy the remaining 10% next year. Known for its customized payroll processing solutions, TSR Darashaw brings over four decades of experience to the table. The company currently manages payroll for 1,65,000 employees across various businesses and reported revenue of ₹9.22 crore in FY 2024.

Crystal HR: Tech-Driven HR Solutions

On the tech front, TeamLease has taken a 30% stake in Crystal HR for ₹25 crore, with plans to increase its share over the next four years. Crystal HR’s flagship product, Wallet HR, offers end-to-end workforce management solutions, serving over 3,00,000 users and 400+ companies. In FY 2024, the company posted a revenue of ₹10.5 crore.

What This Means for TeamLease

These acquisitions add majorly to TeamLease’s Human Capital Management (HCM) capacity. With the addition of TSR Darashaw and Crystal HR, the company will now manage payroll for over 4,65,000 employees across 450 corporate clients, on top of the 3,50,000 it already handles.

The deals align with TeamLease’s goal of becoming a major player in the HCM space, providing both traditional payroll services and cutting-edge HR tech solutions.

Market Reaction

Despite the announcements, TeamLease’s shares, at 9:35 AM, were trading at ₹2,883.25, down ₹54.75 (1.86%) for the day, also showing a decline of 10.97% year-to-date and 2.36% over the past year. The transactions are still subject to regulatory approvals.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.