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India’s Elevator and Escalator market to grow at 8.1percent CAGR during 2017-23
The only way is up
The Indian elevator market was valued at $ 3.94 billion in 2022, and was expected to grow at a CAGR of 8.9 per cent through 2029 to touch $7.16 billion, according to Maximize Market Research.
The key driver of this growth is the construction of residential, commercial and infrastructure structures to meet the needs of rapid urbanisation, population growth and a growing aspirational middle class. North India, primarily Delhi-NCR, is driving this expansion, followed by West India, primarily Mumbai and Pune.
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Ultracab secures Rs 470.78 bn order from Sterling & Wilson
Ultracab has secured an order of approximately Rs 470.78 million from Sterling & Wilson, as detailed in Annexure 1.
Sterling and Wilson, a prominent MEP and EPC contractor company in the fields of power, solar energy, data centres, DG sets, cogeneration plants, and buildings, granted this order.
Ultracab, a leading Indian manufacturer and exporter of electric wires and cables with over 23 years of experience in the industry, possesses cutting-edge technology and advanced machinery to produce high-quality products.
Ultracab specializes in Instrumentation Cables, Elevator..
Infosys Elevates TK with AI-First Strategy
Infosys has unveiled a strategic and long-term partnership with TK Elevator, emphasising an AI-first strategy. This collaboration aims to digitally transform TK Elevator's platforms, leveraging generative AI technologies to enhance efficiency and innovation in the elevator industry.
Infosys, a global leader in technology and consulting, is set to apply its expertise in artificial intelligence to revolutionise TK Elevator's operations. The AI-first strategy signifies a commitment to harnessing cutting-edge technologies for elevating the digital capabilities of TK Elevator's platforms. ..
DLF Launches Luxury Project in Gurugram
DLF, India's leading real estate developer, has unveiled an ambitious luxury housing project in Gurugram, valued at ?2.5 billion. Located in Sectors 76 and 77, the DLF Privana project spans over 116 acres and includes high-rise apartments offering spectacular views of the Aravalli Range.
The latest phase, DLF Privana West, features 795 luxury apartments which sold out within three days of launch, generating around ?550 million. This follows the success of DLF Privana South, which sold 1,113 units for approximately ?720 million earlier in the year. These developments highlight the stron..
Migsun Group Plans Rs 5 Bn Investment in Greater Noida Projects
Migsun Group, a prominent real estate developer, has unveiled plans to invest Rs 500 crore in four new projects located in Greater Noida. This initiative is part of the company's strategic efforts to enhance its presence and contribute to the burgeoning real estate sector in the region.
The investment will be directed towards the development of residential and commercial properties, aimed at meeting the increasing demand for quality real estate in Greater Noida. These projects are expected to not only expand Migsun Group's portfolio but also generate employment opportunities and stimul..
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