Layam Group eyes ₹500 cr. in turnover by FY26

Layam Group aims for ₹500 crore revenue by FY26 through contract manufacturing of e-buses and staffing services.

City-based Layam Group, which recently ventured into electric vehicle space, is expecting to post a revenue of ₹500 crore by FY26, said a top official.

“We closed FY23 with a turnover of ₹350 crore, an YOY growth of 20% and it would be on the same lines for the current fiscal. We will be touching the ₹500-crore mark in FY26 much ahead of our IPO,” Layam Group Chairman G.S. Ramesh told The Hindu.

About eight months ago, Layam Group ventured into contract manufacturing of e-buses for a top auto major in Karnataka, followed by a new unit in Lucknow, quite recently. With this, Layam is poised to contribute significantly to the growth and development of the EV sector, he said.

“Currently, we can produce 22 buses per shift and it can be increased on need basis. We manufacture more of Internal Combustion Engine buses and less of e-buses,” he said.

According to Mr. Ramesh, Layam is building a corporate office and R&D centre in Chennai and skill centres in South and North. The Corporate Office will be spread over 15,000 sq.ft.

Started in 2007, Layam has 16,000 associates in its payrolls. The group provides staffing services, job contract in logistics, contract manufacturing, talent acquisition, IT services and business consulting to automobile, manufacturing, engineering, logistics, power distribution, shipping, food processing, shipping, BFSI and IT sectors.

Explaining about the success story, he said: “We follow company in company model of 20:80. Wherein we ask the company to focus on their core competencies. Our client provides equipment and raw materials and we offer people, process and performance.”