Khaitan & Co

Sector: Legal Services — Corporate Law Firm  |  HQ: Kolkata, West Bengal  |  Founded: 1911  |  Employees: ~900+

Listed as: Privately held  |   |  Website →

Company overview

Khaitan & Co is one of India's oldest and largest full-service law firms, established in 1911. The firm advises domestic and international clients across practices including M&A, private equity, banking & finance, capital markets, real estate, and dispute resolution. With offices in all major Indian cities, it serves as a preferred counsel for Fortune 500 companies, private equity funds, and financial institutions.

Recent developments

May 2026

Khaitan & Co has pursued an aggressive expansion strategy across multiple fronts. The firm opened a new office in GIFT City, Gujarat, establishing a presence in India's international financial services hub [8][9]. In Hyderabad, the firm built out its team with hires from TLH and CMS IndusLaw, signalling intent to deepen its South India footprint [3]. Parallel to geographic expansion, the firm expanded its Projects and Project Finance practice through three partner appointments in Delhi-NCR, strengthening its capability in this high-demand sector [5]. On the transactional front, the firm advised IIFL Capital on a ₹3,500 crore stake acquisition by Fairfax India, demonstrating its role in significant M&A activity [4].

On the strategic front, Managing Partner Haigreve Khaitan outlined the firm's next phase, highlighting momentum in IPO advisory and a focus on institutional governance as the firm positions for continued growth [6]. These developments collectively indicate a firm leveraging geographic expansion, lateral hiring, and practice deepening to capture opportunities in India's evolving legal services market.

Sources (6)

1. Khaitan builds Hyderabad office with hires from TLH, CMS IndusLaw - | Asian Legal Business · | Asian Legal Business · Thu, 14 May 2026
2. Khaitan & Co advises IIFL Capital on ₹3,500 crore stake acquisition by Fairfax India - Bar and Bench · Bar and Bench · Fri, 15 May 2026
3. Khaitan & Co Expands Projects and Project Finance Practice with Three Partner Appointments in Delhi-NCR - SCC Online · SCC Online · Tue, 12 May 2026
4. Khaitan & Co In 2026: Haigreve Khaitan On IPO Momentum, Institutional Governance And The Firm’s Next Phase - BW Legal World · BW Legal World · Mon, 26 Jan 2026
5. Khaitan & Co Opens New Office in GIFT City, Gujarat - Realty Plus Magazine · Realty Plus Magazine · Sat, 11 Apr 2026
6. Full-service law firm Khaitan & Co opens office in GIFT City at Gandhinagar - The Economic Times · The Economic Times · Tue, 14 Apr 2026

Financial performance and recent trajectory

Disclosed revenue (FY25): Not separately disclosed in segment-wise FY 2024-25 reporting.

Competitive position

Khaitan & Co competes with other major full-service Indian law firms including AZB & Partners, Cyril Amarchand Mangaldas, Khaitan & Co, L&L Partners, and Trilegal. It is recognized as a market leader in M&A, PE/venture capital, and infrastructure transactions.

Key risks

Regulatory changes in legal services sector and bar council rules affecting firm structure and operations Competition from global law firms establishing India presence and expanding market share Economic slowdown potentially reducing M&A and capital markets deal activity Attrition and talent retention challenges in a competitive legal talent market

Outlook

Khaitan & Co is a participant in the Indian law firm (corporate practice) business plan & category, which forms part of the broader Professional Services space. The Indian law firm (corporate practice) business plan & market continues to evolve with rising organised share, premiumisation, distribution expansion, and a regulatory architecture covering the Companies Act 2013, the Income Tax Act 1961, the CGST Act 2017, the Legal Metrology Act 2009, and sectoral statutes including the Food Safety and Standards Act 2006 (for food and beverage subsegments), the Drugs and Cosmetics Act 1940 (for pharmaceutical or healthcare adjacencies), the Environment Protection Act 1986 (for emissions and effluents), and labour codes consolidated under the four 2020 labour codes. In KAMRIT's project report framework for this category, the competitive set typically includes pan-India branded leaders, multinational subsidiaries, mid-sized regional players, and a long tail of MSME participants. The structural attractiveness of the category for new entrants is a function of (a) market growth rate, (b) the share that remains with unorganised or fragmented operators, (c) the cost of regulatory compliance, and (d) the capex intensity of plant and machinery. The KAMRIT bankable DPR for this category structures a new entrant's economics against this competitive landscape. For Khaitan & Co specifically, public-domain disclosures provide a baseline view of operations, but segment-wise revenue, EBITDA, capacity utilisation, and forward capex plans are not separately broken out in many cases. Where the company is part of a listed group, the SEBI LODR and the Companies Act 2013 governance framework apply, with statutory audit conducted under SA 700 and CARO 2020 reporting. Where the company is unlisted, the Companies Act 2013 framework continues to govern with reduced public disclosure. The risk and opportunity outlook for Khaitan & Co mirrors the broader law firm (corporate practice) business plan & category dynamics. Demand-side drivers include rising household consumption, urbanisation, organised retail expansion, and policy support including PLI schemes (where applicable to the segment). Supply-side risks include input cost volatility, regulatory tightening, environmental compliance escalation, and competitive intensity from larger groups or imports. Management quality, balance sheet strength, distribution depth, and the capex execution track record are the differentiators within the peer set. KAMRIT's research desk maintains a baseline reference for Khaitan & Co as a peer benchmark within the law firm (corporate practice) business plan & category. For investors, lenders, or new entrant promoters seeking a fuller assessment of Khaitan & Co, KAMRIT's deep-dive company profile engagement covers financial trajectory, capacity and capex, distribution and customer concentration, regulatory exposure, and the competitive position with named peers.

KAMRIT point of view

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Disclaimer: This profile is compiled by KAMRIT Financial Services LLP for educational and benchmarking purposes only. It is not investment advice, a recommendation to buy or sell securities, or a solicitation. Stock data is provided by Yahoo Finance and may be delayed by up to 20 minutes. Company financial commentary draws on publicly available filings, exchange disclosures, and KAMRIT industry research. Readers should consult a SEBI-registered investment adviser before making investment decisions. KAMRIT is a financial services and compliance firm, not a SEBI-registered investment adviser.