Bhuta Shah & Co goes beyond numbers
Bhuta Shah & Co LLP (BSC) is redefining India’s professional services landscape, transforming from a tax and audit firm into a multi-disciplinary powerhouse.
Bhuta Shah & Co LLP (BSC) has emerged as a dynamic player in India’s professional services landscape, expanding far beyond its roots in tax and audit. With offices across Mumbai, Pune, Ahmedabad, and Delhi, the firm has grown from a small team of 60-70 people in 2016 to a robust workforce of 350 today, spread across multiple locations.
The company has acquired JVJ and Co Chartered Accountants, and RR Shah & Associates. Leading this transformation is Harsh Bhuta, Partner at Bhuta Shah & Co LLP, who has been instrumental in shaping the firm’s growth trajectory.
“We have evolved from a traditional tax and audit firm to one offering eight new service lines. We now provide solutions ranging from mergers and acquisitions, due diligence, insolvency practice, and corporate finance, to risk advisory and cybersecurity,” says Bhuta.
Jay Jhaveri, Partner at Bhuta Shah & Co LLP, (formerly from JVJ and Co Chartered Accountants), says: “The decision to join forces with Bhuta Shah & Co LLP was driven by a shared vision for delivering exceptional client service and building a multi-disciplinary powerhouse. We saw an incredible opportunity to leverage BSC’s robust platform, innovative approach, and expansive service offerings and at the same time lending the niche capabilities developed by us to venture into newer service lines and business opportunities.”
Competing with global giants like the Big 4 is a significant challenge for mid-sized firms. According to Bhuta, large companies often gravitate towards the global firms for the brand value they bring. “Stock markets respond better when companies say their auditors are from a Big 4 firm. There’s a perceived safety in that name,” he explains. However, BSC is carving out its own niche by offering something unique – expertise across multiple sectors with a personal touch.
“We offer a unified solution where clients do not need to deal with ten different consultants for different needs. They can rely on us, knowing that each of our partners and sector experts will handle specialised areas, but with the advantage of coordination under one umbrella,” emphasises Bhuta who adds: “A strong organisational culture is a cornerstone of BSC’s philosophy. Culture is non-negotiable for the company.”
BSC focuses not only on professional growth but also on the mental and physical well-being of its employees through initiatives like BSC Cares. This program takes a holistic approach to employee health, covering mind, body, and soul.
In addition to mental health, BSC has launched engaging initiatives to promote fitness. One such example is the Step-Up Challenge, where employees track their daily steps using a mobile app. Monthly rewards, such as paid holidays and gym memberships, help maintain high participation.
Another key component of BSC’s strategy involves continuous upskilling and knowledge sharing. Every quarter, it conducts town hall events to acknowledge high performers and align employees with its organisational goals.
Professional development
In addition to internal growth, the firm is building its alumni network to create long-term relationships with former employees. “We have a 42-year legacy, but we have not focused much on alumni engagement until recently. Now, we are hosting events and networking opportunities to stay connected with people who’ve been part of our journey,” adds Bhuta.
The alumni program is beneficial for both the firm and its former employees. It is not only about rehiring people but also about sharing knowledge and creating opportunities. Whether they choose to stay or move on, the goal is to maintain strong connections. BSC also prioritises work-life balance, an area where many professional firms, especially large ones, struggle.
“We believe that giving employees the freedom to balance their work and personal lives translates into better productivity and satisfaction. For instance, we organise Zumba and yoga sessions, treks, and other activities to ensure employees can unwind and recharge. I run the Tata Mumbai Marathon every year, and I encourage my team to stay active as well. Even small habits, like walking 10,000 steps a day, can make a difference,” adds Bhuta.
Reflecting on her own journey, Sneha Padhiar, Partner at Bhuta Shah & Co LLP, says: “From my start as an article to becoming a partner with a focus on tax, I have seen both the firm and myself evolve tremendously. With a legacy spanning over four decades, BSC has transformed itself from a traditional CA practice into a highly professional, multi-disciplinary organisation with deep expertise across sectors. This evolution has not only enriched our client offerings but has also created incredible growth opportunities for each of us.”
For the future, the company plans to expand its services while setting new benchmarks on employee well-being, striving to build a sustainable, people-centric firm where both employees and clients feel valued.