Property consulting giant JLL (Jones Lang LaSalle) India saw a whopping 17 percent rise in its revenue to about Rs 4,000 crore in the financial year 2018. The company showed tremendous growth during the slowdown in the country and has said it plans to hire about 2,000 employees by the end of the year.
The Indian subsidiary of JLL had filed revenue of about Rs 3,420 last year. The company boasts of over 11,000 employees spread across 10 cities.
Ramesh Nair, the CEO and country head of JLL India, told PTI that the rising demand for commercial space was the reason behind the company's success in the country. He added that JLL's revenue growth shows that there has been a steady improvement in the commercial real estate sector.
The client-oriented company is expanding slowly by focusing on the business requirements. The company has about 800 openings to fulfil the requirements of the growing regional client base. The company claims to scale up its headcount to about 13,500 by 2020.
The company is now focusing on its growth in the brokerage business in the residential segment. With the country's slow revival in the residential real estate sector, the JLL subsidiary is planning to add to the workforce in the segment. The company has secondary plans of scaling its technology and data management business seeing India's potential towards technological advancement.
According to The Economic Times, Nair said that there has been a significant increase in the retail segment by the help of high disposable incomes of the youth. "Various reforms such as RERA, Amendment of Benami Transactions Act and subsequent implementation of GST have helped in infusing trust and credibility among the homebuyers towards the sector," Nair added.
JLL Incorporated (Jones Lang LaSalle Incorporated) is the second-largest real estate service firm in the world. It is a Fortune 500 company listed at 189. It has annual revenue of about $16.3 billion from over 80 countries and has a workforce of about 91,000 employees.