There is a unique but strategic choice made by Bluspring Enterprises for an area to continue to expand into—aviation catering. Through a wholly-owned subsidiary, Bluspring New Horizon Two Private Limited (a company that performs integrated infrastructure services), they have signed a definitive agreement for the purchase of 100% of LSG Sky Chefs (India) Private Limited, which will give them access to the aviation catering sector for the first time. The agreement is to buy the operation that is based in Bengaluru, while the operations outside of Hyderabad will be separated prior to closing. The transaction is expected to be completed in 60 to 90 days from now but will be subject to all parties meeting customary conditions. Aurelius, a recognized global private equity investor, is making the transaction, widely regarded as a leader in “turnaround” operations.
LSG India’s Bengaluru facility, located in the Kempegowda International Airport precinct, is more than just a little niche food-services entity. The kitchen itself takes up 9,272 square meters (roughly 1.06 hectares) and produces 15,000+ meals at full capacity. There are over 400 employees at LSG, serving over 30 clients, including major airline brands such as IndiGo, Lufthansa, Etihad, and Qatar Airways. According to Bluspring’s disclosure, the Bengaluru operation generates revenues of greater than ₹110 crore and has EBITDA margins in the mid-to-high teens, translating to over $11.79 mm (base exchange rate of XE’s mid-market 1 USD:93.3157 INR for calculations on 15th April 2026).
The acquisition is equally as telling as the previous statements. The price of ₹129 crore ($13.82 mm based on prior exchange rates) establishes the company’s rationale for pursuing a high-entry-barrier, niche aspect of the aviation value chain through this acquisition (essentially, they’re purchasing not only an operational business line but also a distinct operating footprint with high entry barriers).
In speaking to management, there is a clear synergy between this acquisition and Bluspring’s existing food-services vertical, and they expect this acquisition to provide an opportunity to add EBITDA margin expansion and increased returns on equity, clearly demonstrating they are treating aviation catering as more than just an ancillary business—they see it as a leverage point in generating profits.
When considering the timing of Bluspring’s acquisition of Mumbai-based toll service company J.M. Bhujlani, one must also consider the magnitude of the opportunity that exists at Bengaluru International Airport Limited (BIAL). According to BIAL’s estimates, total passenger traffic will increase from approximately 45 million in 2017 to more than 70 million by 2030. This significant increase in passenger traffic translates into a larger market opportunity for an airline catering operator like Bluspring. In addition to a long-term concession agreement with BIAL, Bluspring’s ability to leverage the increase in passenger traffic at Bengaluru International Airport (Bangalore International Airport) through its new acquisition of J.M. Bhujlani will enable Bluspring to grow its business beyond the airport.
In addition to expanding beyond the airport, Bluspring’s acquisition of an established operating business also complements Bluspring’s overall company profile. The company defines itself as a technologically enabled, compliance-minded, infrastructure services company with national operations in 28 states, more than 90,000 employees, and over 1,000 customers in sectors including healthcare, education, and other service-oriented industries.
BFSI—Banking, Financial Services & Insurance; Commercial; Information Technology, Telecom, Manufacturing; Government; and Public Sector Undertakings. Based on the above context, LSG India appears to be a calculated move to extend Bluspring’s existing platform versus entering a new space. BlueSpring has already established itself within the Food & Hospitality vertical, and adding a highly specialized, higher-value segment like Aviation Catering enhances BlueSpring’s growth trajectory.
The uniqueness of this transaction is due to the combination of scale, scarcity, and timing. Bluspring is entering a challenging support service business; however, it does have attractive attributes such as stability, long-term access to airports, and an increasing number of passengers utilizing air transport through airports. If the integration process goes well, Bluspring could have purchased a catering business in Bengaluru but also located a foothold to grow its business in one of India’s most consistent and highly regulated growth areas.
