homevideos Newshospitality NewsDemand for private security, facility management biz to stay resilient: SIS Group
Demand for private security, facility management biz to stay resilient: SIS Group
While there was some impact in the month of May, June saw a solid rebound and we hope that when declaring the Q1 results in next 2-3 weeks, you will see a strong set of numbers vis-à-vis last year Q1 and even Q4. So the only trouble month was May, both April and June have been fairly resilient, said SIS, Group MD Rituraj Sinha.
The Security and Intelligence Services (SIS) stock has been buzzing in trade and is up 10 percent this month. To assess the Covid 2.0 impact and the road to recovery, CNBC-TV18 spoke with Group MD Rituraj Sinha. In the fourth quarter the India business margins were under pressure mainly due to low volumes in hospitability in retail.
Sinha said overall the security business has shown resilience over the FY21 results. Although in Q1 there was some impact due to COVID second wave, demand for essential services like private security, facility management remained resilient, which has been seen in the last four, five quarters.
Talking about monthly revenues, he said, “While there was some impact in the month of May, June saw a solid rebound and we hope that when declaring the Q1 results in next 2-3 weeks, you will see a strong set of numbers vis-à-vis last year Q1 and even Q4. So the only trouble month was May, both April and June have been fairly resilient.”
On facility management business, he said, “What corona has done is that the awareness regarding hygiene and sanitation being health-related, as post corona unlock happens, the first expenditure by corporates on hygiene and sanitation will go up and that will start to reflect on facility management growth profile over the longer period.
SIS Group Enterprise is a private security firm in India, Australia, and New Zealand. It was set up in 1985 by Ravindra Kishore Sinha and is one of the largest manpower security firms in the Indo-Pacific region.
For the full interview, watch the accompanying video
(Edited by : Aditi Gautam)
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