Tariq Chauhan, Group CEO and Co-Founder of EFS Facilities Services Group, sheds light on the factors behind the company’s stellar financial performance and the strategy that will drive continued growth.
Over the years, EFS Facilities Services Group has evolved into an international leader in integrated facilities management solutions, with 40 operating companies serving clients in 25 countries across Africa, Asia, Europe, and the Middle East. Since its inception in 2000, the company has grown consistently across almost every metric and 2024 is turning out be a record year, marked by 25% revenue growth in the first six months, more than $408 million in new contracts, and a project backlog worth almost $2.2 billion.
For Tariq Chauhan, Group CEO and Co-Founder of EFS Group, it is a moment to take stock and be proud. “This is our historical best,” he beams, “And I attribute the success to the team at EFS – our 32,000-strong workforce, from the C-suite to the boots on the ground.”
In addition to a formidable team of colleagues, Chauhan cites two major factors as the driving forces behind the company’s rapid business growth: thriving economies and a construction boom in the GCC – both of which are driving double-digit growth in the facilities management industry.
The built environment across the region is expanding and evolving at lightning pace, with Saudi Arabia in particular investing in new projects as it strives to fulfil the lofty ambitions set out in Saudi Vision 2030. According to the group CEO, the Kingdom has contributed two thirds of the growth at EFS this year, followed by the UAE.
Beyond external economic factors, Chauhan also points to service excellence as a cornerstone of success at EFS Group. Outstanding service has led to high client retention – 97% to be precise – and the founder-CEO intends to embolden his company’s service excellence even further, with focus on six core sectors, led by aviation, infrastructure, integrated facilities management (IFM), and education. Oil and gas are a growing interest at the group too.
Looking ahead, Chauhan also has his sights set on geographical expansion, with Europe and Central Asia on his radar. “There are some amazing opportunities in these regions,” he explains. “From the very beginning, EFS was conscious that it had to be a preferred provider for global multinationals, and in order to build a sustainable business model, diversity is critical.”
Diversification and expansion form part of Chauhan’s strategy to reach $3 billion in revenue. Having already increased the company revenue from around $20 million to almost $545 million in the space of a decade, the co-founder sees the goal is infinitely achievable. “It is not a dream; it’s a reality,” he insists. “We have an exciting landscape in front of us. The emerging built environment will require maintenance and facility management is also expanding in scope.”
To seize the opportunities ahead, Chauhan is harnessing the power of technology, with a focus on data.
According to the group CEO, data plays a critical role in facility management, yet it has historically been underutilized. To address that, EFS intends to use advanced tech to bring efficiencies, boost productivity of the workforce, and make significant gains in areas such as customer relationship management.
From new technologies to new markets, EFS Facilities Services Group is pursuing a future of growth and expansion, breaking records and setting new benchmarks as it goes.