The seeds of Eco (Emergency Commissioned Officer) Mobility were sown by the late K.R. Loomba, father of entrepreneurs Rajesh and Aditya, way back in 1973. Loomba, a former army officer, had taken part in the 1965 Pakistan operations, after joining the Emergency Commission.
Later, retired from the Army, he operated a transportation service, using a borrowed car for almost two years. His sons took his entrepreneurial legacy ahead. Eco (India) Mobility & Transportation was formed in 1996, with Rajesh partnering his father. After Loomba’s passing away in 2002, his younger son Aditya joined the business.
Today, Eco Mobility is the largest and most profitable chauffeur-driven mobility provider to corporates in India, in terms of revenue from operations and profit after tax for 2022-23. It is primarily engaged in the business of providing chauffeured car rentals (CCR) and employee transportation services (ETS) and have been providing these services to corporate customers, including Fortune 500 companies in India, for more than 25 years. In 2023-24, it provided CCR and ETS to 42 Fortune 500 companies and 60 BSE 500 companies, among others, in India. The CCR segment is a B2B2C business, where customers are corporate companies, and the end consumer is an employee, client, guest or visitor of these corporate companies. Through the ETS segment, Eco Mobility offers customers with solutions to manage their employee home-office-home ground transportation.
Pan India presence
Eco Mobility has a pan-India presence in 109 cities through its own vehicles and vendors, spread across 21 states and four Union territories in India, as of 31 March 2024. “Our pan India presence underscores our deep-rooted and extensive footprint and demonstrates our penetration into diverse regions across India,” says Rajesh Loomba. “We operate a fleet of more than 12,000 economy-to-luxury cars, mini-vans and luxury coaches. We also provide specialty vehicles such as luggage vans, limousines, vintage cars and vehicles for accessible transportation for people with disabilities. We have increased our focus on premium vehicles due to increasing customer preference for premium vehicles.”
“We also address the global car rental requirements of our corporate customers, through our global network of vendors with our capability of providing CCR services in over 30 countries,” says Aditya. “We also provide cars of self-drive basis in the cities of Delhi, Gurugram, Mumbai and Bengaluru. We have also provided self-drive cars outside India through vendors.”
“We operate our fleet of vehicles on an asset light model, where we strive to keep the number of the vehicles we own in our fleet significantly lower than the vehicles sourced from our vendors”, says Rajesh. It took 19 years for the chauffeur-driven mobility services provider to reach revenues of Rs100 crore in 2015, but the company managed to increase its turnover four times to Rs400 crore by 2020. In 2023-24, 2022-23 and 2021-22, its revenues from operations were Rs554.41 crore, Rs422.68 crore and Rs147.34 crore, respectively. Its profits after tax for the same period was Rs62.53 crore, Rs43.59 crore and Rs9.87 crore, respectively.
Eco Mobility provides services to customers operating in a range of industries including information technology, business process outsourcing, consultancy, healthcare, e-commerce, pharmaceutical, legal and manufacturing, including InterGlobe Aviation, HCL Corporation, Safexpress, Deloitte Consulting and IndusInd Bank, to name a few.
“Our long-standing customer relationships, combined with the high revenue contribution from our customer relationships have resulted in a high lifetime value of our customers. Further, such relationships with customers have offered us competitive advantages, such as revenue visibility, industry goodwill and a deep understanding of the requirements of our customers, which is a testament to the quality of our services,” says Aditya.
Eco Mobility seeks to expand presence in Tier II and Tier III cities in India and increasing penetration in cities with existing operations. It aims to acquire new customers and increase revenue from existing customers and expand the sales team. “We continue to focus on technology to ensure operational excellence. We also focus on building our brand through our brand building strategies and focus on operational excellence,” says Rajesh.
Eco Mobility seeks to expand geographical footprint globally. It has addressed the global CCR requirements of corporate customers, with a global network of vendors through whom it has the capability of providing services in over 30 countries.