TeamLease Acquires TSR Darashaw, Secures Stake in Crystal HR to Enhance HCM Offerings Both transactions are subject to customary closing conditions and statutory approvals.
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TeamLease Services Limited, a staffing company, has taken a significant step in strengthening its position in the Human Capital Management (HCM) space by announcing the execution of a definitive agreement to acquire TSR Darashaw HR Services Private Limited (TSR Darashaw).
Additionally, the company has received board approval to acquire a stake in Crystal HR and Security Solutions Private Limited (Crystal HR). Both transactions are subject to customary closing conditions and statutory approvals.
TSR Darashaw is recognised for its customised payroll processing solutions tailored to multi-location, multi-business unit requirements. The company has built a reputation for its commitment to integrity, service quality, and client satisfaction, serving some of India's most esteemed corporates.
Darashaw Keki Mehta, Director of TSR Darashaw HR Services, remarked, "Joining forces with TeamLease enables us to leverage their domain expertise and deliver greater value to our clients. Together, we are well-positioned to help clients achieve their workforce management goals."
Crystal HR, through its flagship product "Wallet HR," offers a full-suite HR tech solution designed to meet diverse business needs. Supporting over 3 lakh users across 400+ customers globally, Crystal HR has established itself as a leader in HRMS solutions.
RS Raman, Founder and CEO of Crystal HR, stated, "This partnership with TeamLease paves the way for enhanced growth and service delivery. Crystal HR's innovative HRMS platform aligns perfectly with TeamLease's vision of providing scalable and differentiated business solutions."
Ashok Reddy, Managing Director and CEO of TeamLease, highlighted, "With TSR Darashaw and Crystal HR, we now manage payroll for over 815,000 records across 450 corporates. While TSR Darashaw enhances our capabilities in managed payroll, Crystal HR provides a robust HRMS platform that complements our HCM strategy."
Listed on NSE and BSE, TeamLease claims to serve over 3,900 employers, offering solutions across employment, employability, and workforce management. With a legacy of hiring over 23 lakh individuals in 23 years, the company also operates India's Skill University and apprenticeship programs.
These acquisitions mark a strategic milestone for TeamLease, propelling its vision of becoming India's largest HCM service provider.
