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Le Lavoir Ltd has signed a 1-year annual contract with Fariyas Hotels Private Limited to provide laundry services at Hilton Garden Inn Mumbai International Airport, located in Andheri East. The company offers outsourced laundry services to hotels under the 'Le Lavoir' brand and currently operates a Mumbai facility with a capacity of 7 tons per day, which it plans to raise to 10 tons per day. The Managing Director has stated that the company targets over 50% year-on-year growth for the next two financial years, along with pan-India expansion of laundry units. The directors highlighted alignment with the government's 'Make in India' and 'Atmanirbhar Bharat' initiatives.
This is a new client win for Le Lavoir in the hospitality laundry segment, supporting its growth and expansion plans. However, no contract value or financial impact has been disclosed, so the immediate effect on revenue or stock price is unclear. Shareholders may view this positively as a step toward the company's stated 50%+ annual growth ambition.