Lloyd's Register Plans to Double India Revenue By 2015

Friday, 31 May 2013, 07:10 Hrs
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Mumbai: Lloyd's Register, England-based independent quality and risk assurance firm, aims to double its revenue from India operations by 2015, a top company official said here.

"We plan to double our revenue in the next two-three years by focusing on acquiring large accounts," Lloyd's Register Chairman for India and Southwest Asia R S Sharma told reporters here.

Prior to taking his new assignment, Sharma was the chairman of state-run oil major ONGCBSE -1.26 percent. He took over the mantle last November.

Lloyd's Register, which provides independent assurance and expert advice to companies operating high-risk, capital-intensive assets in the energy and transportation sectors, had a global revenue of 900 million pounds last year and India contributes around 18-20 million pounds to Lloyd's global revenue.

Sharma also said the company is planning to increase its headcount in the country.

"At present, Lloyd's have less presence in large key accounts. So, we will focus on companies like RIL, L&T, Essar, and GAIL among others to increase the revenue contribution from here," Sharma said.

The company is also planning to enter segments like railway transport in the future. Lloyd's will also increase its focus on the energy segment going ahead.

"There are multiple new initiatives that are being undertaken in the areas of green energy and nuclear energy among others...We want to be part of the growth in the energy sector," its energy and power sector head K Swaminathan said.

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