L.T. Elevator Commences New Manufacturing Facility; Eyes ₹400 Crore Revenue

The company's strategic capacity expansion is set to boost production 2.5 times, positioning the firm to reach significant revenue milestones by FY2028.

KOLKATA — L.T. Elevator Limited has officially commenced the construction of its new integrated manufacturing facility as part of a strategic push to scale operations and meet rising demand for vertical transportation and mechanical car parking solutions. The new unit, situated on a 6.5-acre land parcel, represents a ₹25 crore capital investment and is scheduled for commissioning by the fourth quarter of the 2026-27 financial year (Q4 FY27).

Boosting Production Capacity

The upcoming facility is a significant upgrade from the company’s current operations. While the existing plant spans 1.2 lakh square feet with an annual production capacity of 600 elevators, the new site will feature a 2.5 lakh square foot footprint, capable of producing 1,200 elevators per year. This move is expected to increase the company's total installed manufacturing capacity by approximately 2.5 times.

According to the management, the new facility is projected to deliver a peak revenue potential of ₹350 crore to ₹400 crore by FY2028-29. This expansion is a cornerstone of the firm's broader growth strategy, which includes aggressive inorganic expansion and market penetration in the eastern Indian states.

Strategic Growth and Acquisitions

The company’s growth trajectory has been marked by strong financial performance, with FY26 revenue surging approximately 97% year-on-year to reach ₹111.7 crore. This momentum has been further bolstered by the strategic merger with Ricardo Elevators, an acquisition that integrated Ricardo’s execution expertise and retail presence into L.T. Elevator’s existing engineering-led platform.

To support these growth initiatives, the board has approved a preferential issue of equity shares and warrants to raise funds for the factory construction and further inorganic growth opportunities. The company currently maintains a robust executable order book exceeding ₹250 crore, diversified across elevator installations and mechanical car parking systems.

Key Facts at a Glance

• Facility Investment: ₹25 crore.

• Production Increase: Installed capacity to rise by approximately 2.5 times.

• Commissioning Timeline: Q4 FY27.

• Revenue Target: Peak revenue potential of ₹350–400 crore by FY2028-29.

• Annual Capacity: Existing plant produces 600 units; new plant will add 1,200 units.

Frequently Asked Questions (FAQ)

What is the primary purpose of the new facility? The new integrated manufacturing facility is designed to scale L.T. Elevator's production capacity for elevators and parking solutions, aiming to support the company’s revenue growth to over ₹400 crore by FY2028.

When will the new plant be operational? The company expects the new facility to be commissioned by the fourth quarter of the 2026-27 financial year (Q4 FY27).

How is the expansion being funded? The capital expenditure for the new factory is being supported by internal accruals and capital raised through preferential allotments, which also support broader corporate growth goals].

What does the merger with Ricardo Elevators bring to the company? The merger integrates Ricardo’s strong retail presence and execution capabilities with L.T. Elevator's manufacturing platform, strengthening the company’s competitive position and margin profile.

Source: L.T. Elevator FY26 Performance Report (ScanX), The Times of India - Kolkata Edition, Preferential Issue Filing (ScanX)