The company, which made Rs 500 crore before Covid-19 hit, has seen a sharp downturn in business during the pandemic.
However, the managing director Alok Jalan told ET the business was experiencing a resurgence.
“outdoor advertising market recovered, and we are almost at the pre-pandemic level in terms of income, maybe 85-90%. We are targeting Rs 1,000 crore by 2025 and a CAGR of 20-25% over the next few years,” said Jalan.
Laqshya Media was founded by Jalan in 1997 with an initial investment of Rs 1 million.
Today the company has offices in 17 cities in 17 states and serves 3,000 cities in India.
Jalan said Lakshya will now actively seek acquisition targets as he believes the market is too fragmented and needs to be consolidated.
“We are open to like-minded people and good opportunities, but it has to make sense for both parties, and I am always open to investing in collaboration for consolidation because it will create value in the long run,” Jalan said.
He added that now that he owns 100% of the company after exiting PE funds in 2020, Lakshya will also consider raising funds in the near future or listing the company in two years.
“We may consider raising funds in the near future or listing the company in a couple of years, depending on where we are at the moment and what requirements we have,” Jalan said.
The company has three main lines of business – outdoor advertising, experiences and events, and digital.
“Currently, the revenue split is 80:20 in outdoor advertising and other companies, and we want to change that. Therefore, we are also considering the possibility of combining these three services for any client, because this also creates a lot of value,” Jalan said.
He noted that in the past, many have said that outdoor advertising will not only survive, but will thrive. “When we started 25 years ago, there were painted billboards, then there were printed billboards, and now we have digital signage… that’s how media changes over time and reinvents itself. In the future, technology and interactivity will play a key role. , and digital OOH or DOOH will flourish.”
The company owns the rights to outdoor advertising at Hyderabad Airport, transport systems and street furniture, including modern bus shelters and footbridges.
“We have a presence in Mumbai, Chennai, Hyderabad, Bangalore and Delhi and we want to strengthen our presence in these markets first. The number of sites today is not very important, but the quality of the sites. As we move forward, our strategy is to dominate or exclusivity, because that’s how you can create value for the advertiser as well,” he said.
The company, which has developed an artificial intelligence tool called SHARP to measure the return on investment in outdoor advertising, will be investing heavily in technology, data and innovation, Jalan said.