New Delhi, 14 April: PM Relocations (PMR), a global relocation company, is looking to expand its domestic and international footprint after its phenomenal growth performance in the Financial Year 2022-23. There has been a sharp rise in the demand for professional moving services, especially after the COVID pandemic. PMR grew over 80% in turnover from the previous financial year and is now eyeing to achieve a revenue of INR 350 Crores in the next fiscal year. Given the nature of growth, PMR is now looking to expand its headcount by increasing its new hires by 20% across diverse roles and functions to amplify the growth momentum from both domestic and international relocations.
Aakanksha Bhargava, CEO (PMR) said that PMR is a global relocation brand which is also a 200 Crore company now, making it one of the fastest growing relocation brands from India to reach this milestone especially after the numerous challenges and roadblocks post the pandemic. “Our ambition is to be a 500-crore company in the next 2 years. We have grown significantly at a steady and promising growth rate. This year alone we are standing at a strong EBITDA of over 18%.” She said.
Over the past year, we have accelerated our domestic footprint within the country with infrastructure expansion across Mumbai, Bangalore, and Kolkata. The pan-India expansion was a strategic move to upgrade the overall infrastructure in terms of both physical space as well as technological and security upgrades to cater to the growing demand for warehousing and storage services across different regions. PMR is a bootstrapped organization and has been growing out of profits and debt.
She added that “Right now we are a team of 600 plus people and by the end of this financial year, we are looking to increase the team strength by 20%. The talent which we are looking to hire will be a part of our online moving business and growth team. Others would be spread across functions such as marketing, growth, customer service, and online and offline sales for our various umbrella brands such as PMRGO, PMR Logistics, Relo+, PetGo, Artistics, Baggage+, and Store+”.
Talking about the road ahead, Bhargava said that the PMR would be focusing on expanding the online presence, leveraging customer experiences to establish a domain foothold for ancillary services, and continuing to upgrade to technological infrastructure solutions. “Over the past 3 years, we have realized that a lot of our client base is slowly transitioning to online space to avail stress-free moving solutions. India is a country where the customer base had been highly price-sensitive, however, now they are slowly rooting out for quality and stress-free moving solutions. Hence, to enhance the overall client experience of interacting with the brand we will soon be launching our redesigned website as well as a new mobile application for them to reach out to us. We are eyeing close to 15,000 solely based on the new launch”, she said.
Talking about the international plan, Aakanksha explained that the company is in process of developing key SOP playbooks for various departments that will help us replicate our overall strategy across regions, states, and countries while maintaining the ethos and DNA of the company. Currently, PMR caters to international relocations via its partners abroad. Bhargava added that “From the global relocation perspective, I think the next three years would be very crucial for PMR. We are aiming to build a highly scalable business while focusing on employee development and growth. Once, things are in order we are looking to go all out and tap the larger global markets which will be accounting for close to 80 percent of our growth going forward.”
Earlier, PMR had pivoted and introduced various sub-brands as a part of their service-line extension to beat the post-pandemic effects on the industry. Bhargava said that we are looking to disrupt and increase country-specific online leads to 15000 by the end of this financial year from about 6,000 leads right now. Our offline sales account for 90 percent of the revenue while online sales account for 10 percent of the revenue, and this is expected to scale up to 25 percent by this year’s end. We are also looking to focus more on our diverse CSR initiatives and become a preferred workplace for employees in our industry.