- **Ecos (India) Mobility & Hospitality is India’s largest organised provider of chauffeur-driven cars for companies - the cars that pick you up for a business meeting, ferry employees home after a night shift, or move a visiting executive team across a city. Founded in 1996 by Rajesh Loomba and built alongside his brother Aditya, the company grew from a regional Delhi fleet into a pan-India operation by writing its own operations software when no off-the-shelf tool existed, which let it standardise and scale a business that most rivals still run on phone calls and spreadsheets. That same self-funded, technology-first approach - reinvesting profits, never taking outside capital until its ₹600 crore IPO in September 2024 - explains how it now completes 4.04 million trips a year for over 1,750 corporate clients across 130 Indian cities and more than 30 countries, while the broader industry remains overwhelmingly fragmented and unorganised.** # Business segments Two engines power the same corporate mobility machine - employee commutes that run on fixed daily schedules, and on-demand chauffeur-driven rentals for everything else - both fed by a shared fleet network and a proprietary technology backbone that competitors find hard to copy. ## 1. Employee Transportation Services: the daily commute backbone **Structured, shift-based home-to-office transport for large enterprises - the steadier, larger half of the business, where reliability and safety are non-negotiable.** - **Built for round-the-clock operations** - the segment serves companies with 24x7 multi-shift requirements, particularly Global Capability Centres (GCCs), IT-ITES firms, consulting, manufacturing, pharma and BFSI clients, with dedicated on-site supervisors ensuring safety and compliance at every shift change. - **Concentrated in India’s corporate hubs** - Bangalore, Gurgaon, Mumbai, Pune, Chennai and Hyderabad drive the bulk of ETS activity, mirroring the geography of the GCC and tech-services boom. - **Quality is the pricing power** - for large, complex transport requirements - think moving thousands of employees across a campus or managing transport for a major conference - the company commands a premium or is the preferred vendor, because delivering consistent service quality across geographies is genuinely difficult. - **Chauffeurs are trained, not just hired** - the company runs specialised programmes including White Glove Training, Defensive Driving, Fire Fighting, First Aid and CPR, and a SMART Chauffeur Program, turning drivers into a controlled, professional workforce rather than a variable input. ## 2. Chauffeured Car Rentals: the on-demand corporate fleet **Airport transfers, events, outstation trips and point-to-point executive travel - the more visible, higher-margin segment where the brand lives.** - **A premium service for corporate decision-makers** - the fleet spans economy sedans like the Maruti Suzuki Dzire, premium models like the Toyota Innova Crysta and Fortuner, and luxury vehicles including Mercedes-Benz E-Class, Audi A6, BMW 5 Series and Range Rover, with a recent expansion adding more top-end Mercedes models in Delhi, Mumbai and Bengaluru. - **Booking is going digital, but not mass-market** - more than 14% of CCR bookings now come through the CabDrive Pro platform, API connections or the customer app, and a direct web booking portal launched in Q4 FY26 lets premium individual users and SMEs pre-schedule rides without a long-term contract - extending the enterprise experience, not chasing the B2C aggregator game. - **Specialty vehicles fill the gaps** - the fleet also includes luggage vans, limousines, vintage cars, and accessible vehicles for people with disabilities, covering niche corporate needs that generic fleets ignore. # Technology and supply backbone **A proprietary operations platform and a 20,000-vehicle vendor network - built over two decades, not bought - that lets the company scale without owning the cars.** - **Software written from scratch** - the central transport management system, RentNet, was developed in-house starting in 2008 because no off-the-shelf product existed for the business; it automates documented processes and gives corporate clients full visibility of all employee movements through the CabDrive Pro dashboard, across India or globally. - **Asset-light by design** - 95% of the fleet is vendor-operated, with the vendor partner network growing from roughly 14,000 vehicles in FY25 to 20,000 in FY26, funded by vendor partners rather than the company’s balance sheet, so the fleet can expand or contract with demand. - **Fuel risk is passed through** - contracts include fuel escalation clauses, so when fuel prices rise beyond a threshold of around 5%, the increase flows to the client, insulating margins from the single largest variable cost. - **The moat is the supply ecosystem** - the vendor network, built over decades of relationships and standardised through the technology stack, is described by management as “not easy to replicate,” which matters in an industry where barriers to entry are otherwise low. # Group structure and partners **A promoter-led, publicly listed company with a new global distribution partnership that extends its reach to self-drive rentals in over 100 countries.** - The company listed on NSE and BSE on 4 September 2024 under the symbol ‘ECOS’, with promoters holding approximately 67.7% as of March 2025. - It has two wholly owned subsidiaries - Eco Car Rental Services Private Limited and, incorporated in June 2025, Ecos Fleet Management Services Private Limited - both in the same line of business. - In March 2026, ECOS became the exclusive General Sales Agent in India for SIXT, the international mobility provider, giving its corporate and enterprise clients access to SIXT’s premium self-drive rental network of more than 350,000 vehicles across over 105 countries - extending the company’s proposition beyond its domestic chauffeur-driven core.