Investor Relations

The UDS Group

Established in Chennai in 1985, Updater Services Private Limited (UDS) is India's leading business services provider. The company leverages its decades of sectoral knowledge, commitment to customer service and custom built technology platforms to redefine business services and help customers meet their goals.

UDS offers a wide range of services including Engineering services, Production Support services, Soft services, Warehouse management services, Institutional catering and General staffing to meet the needs of enterprises across India.

The organization has a footprint across India with over 23 locations, servicing 800+ customers and over 50,000 full time employees as of 2023.

Over the past three decades we have been supported with our growth plans by forward thinking institutional investors. A brief overview is given below.

UDS

Detailed Enquiries

Corporate Brochure
Corporate Deck
Press Releases
Current Investors
View our latest company brochure to
understand our various services and offerings
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View our latest company deck to
understand our vision and structure
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UDS to acquire a majority stake in Denave
Nov 15th, 2021
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UDS acquires majority stake in Athena BPO
Jan 18th, 2023
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Motilal Oswal Financial Services Limited is an Indian financial services company offering a range of financial products and services.
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Investment Timeline

2006
2008
2015
2017

New Vernon Capital makes a PE Investment in our company

2006

ICICI Ventures replaces New Vernon Capital as an investor

2008

UDS Buys back shares from ICICI Ventures

2015

Motilal Oswal Private Equity makes a PE Investment in UDS

2017

Board of Directors

Raghunandana Tangirala

Raghunandana Tangirala

Founder & Managing Director
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Raghu is the Promoter & Managing Director of Updater Services Limited. He holds a graduate degree in Commerce from Madras University and is a Certified Facility Management Professional having 35 years of experience in the service industry as an entrepreneur. His extraordinary ability to drive results has enabled UDS to expand from a housekeeping services firm to an Integrated Business Services platform. Raghu firmly believes that learning is the core competency for someone to build and it is one of the ultimate drivers of a high-performance culture. During the last 35 years, he has been instrumental in generating gainful employment for almost one million people in the IFM space. His knowledge and competence in diverse domains include his passion for culinary skills, love for gardening, affinity and care for pets, creative and soulful involvement in civil engineering, and architecture.
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P.C. Balasubramanian

P.C. Balasubramanian

Executive Director
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Bala is a founding member of Matrix Business Services and is an Executive Director at UDS. He is a Chartered Accountant with 30+ years of industry experience. Bala is an Institution builder and totally believes that it is the people who build an organization. An avid film, books, and cricket lover, and an ardent admirer of Brand Rajinikanth, Bala is an author with several books – both fiction and non-fiction – to his credit. He is also a speaker at various forums and corporate events.
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Sangeeta Shankaran Sumesh

Sangeeta Shankaran Sumesh

Independent Director
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Sangeeta is a Chartered Accountant, Management Accountant and completed executive education from Harvard Business School. She is a Chief Financial Officer turned business and leadership Coach (PCC from International Coaching Federation), TEDx & Global Professional Speaker and Bestselling Author. She brings along rich corporate experience of twenty-five years and has worked with organisations like Dun & Bradstreet Technologies, Thales, PricewaterhouseCoopers, etc. She has many awards and recognition to her credit.
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Sunil Chandramani

Sunil Chandramani

Independent Director
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Sunil holds a bachelor’s degree in Commerce from Sydenham College of Commerce & Economics, Mumbai University, and an Honors Diploma in Systems Management from the National Institute of Information Technology. He is a Chartered Accountant and a member of the Institute of Chartered Accountants of India. He has approximately 31 years of serving clients in the Services, Technology, Financial Services, FMCG, and Government Sectors. He has previously served as the Head of Advisory Business with Ernst & Young. He also led several business units at Ernst & Young, large ones being- Financial Services, Government Services, IT Security, Risk Management, and Global Innovation. He is also Chairman and Audit Committee Chair at Sapphire Foods Limited, Independent Director at Ganesh Grains Limited and IKF Finance Limited. He also serves on the CII Corporate Governance Committee and contributes to the agenda of Policy changes and improving corporate governance.
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Vijay Dhanuka

Vijay Dhanuka

Investor Nominee Director
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Vijay Dhanuka is a Director and leads the consumer practice at MOAlts. Since joining the fund in 2013, Vijay has been instrumental in 10 investments and represents the fund on the boards of Dairy Classic, Updater Services, N Ranga Rao & Sons, Asian Footwear, Happilo, Kushal’s, and IGP. With over 18 years of experience in private equity and corporate finance, Vijay was previously part of the corporate finance team at Asian Paints, responsible for M&A, treasury, fundraising, investor relations, banking, and strategy. He holds a Bachelor’s Degree in Commerce from St. Xaviers’ College, Kolkata, and is a member of the Institute of Chartered Accountants of India, a CFA charter holder, and a qualified Company Secretary.
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Amit Choudhary

Amit Choudhary

Independent Director
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He holds a bachelor’s degree in Commerce from St Xavier’s College, Calcutta University, and is a Chartered Accountant. He has approximately 20 years of experience in the consumer & business services sector. He has previously served as the Partner with MOPE, and the Regional Finance Head with Procter & Gamble, and has handled functions such as Finance, Accounting, Investments, Strategy, and Tax. He has been awarded the President's Gold Medal by ICAI for securing AIR #1 in CA & is a winner of multiple performance awards at P&G.
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Shankar Gopalakrishnan

Shankar Gopalakrishnan

Investor Nominee Director
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Shankar is associated with MOAlts since 2013. At MOAlts, Shankar works closely with the Team on deal evaluation and portfolio monitoring. Shankar has over 34 years of experience in life sciences/ healthcare sector. He established and scaled India Operations of Actavis Pharma, the world's third largest generic company, to US$ 100 mn revenues. He had earlier worked with Hikal Limited as its Chief Finance Officer and prior to that, Shankar worked with E. Merck India Ltd for 12 years in various functions like accounts, finance, internal audit, costing, management accounting, and information technology. Shankar has considerable experience in domestic and cross-border M&A. Shankar brings with him considerable strengths in building system-driven organizations, analytical skills to solve complex issues, and has considerable experience in both growth-oriented organizations as well as cost-focused organizations. Shankar is a member of the Institute of Chartered Accountants of India and a Certified Public Accountant (CPA).
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