L.T. Elevator Approves Merger of Ricardo Elevators

14 Jan 2026 CW Team

L.T. Elevator has recently announced that its Board of Directors has approved the merger of Ricardo Elevators Private Limited into the company, marking a strategic move to accelerate entry into the premium direct-to-consumer home elevator market. A binding term sheet has been executed for the transaction.

As part of the merger, Ricardo Elevators’ operations and team will be integrated into L.T. Elevator. Neeraj Hemnani, Founder and CEO of Ricardo Elevators, will continue with the organisation and will head the Home Elevator Division.

The merger is expected to support faster and more sustainable revenue scale-up through the immediate addition of Ricardo’s order inflows. It will also improve cost efficiency as Ricardo’s outsourced manufacturing is progressively integrated into L.T. Elevator’s in-house, engineering-led manufacturing platform, enabling better cost control, quality consistency and operating leverage.

The integration further enhances market reach and pricing power by providing access to Ricardo’s pan-India retail footprint and established premium D2C brand, creating cross-selling opportunities across residential segments. Ricardo is currently generating order inflows of Rs 60 million per month, with a delivery cycle of three to six months, positioning the combined entity for stronger revenue momentum in the coming financial periods.

Commenting on the development, Yash Gupta, Director, L.T. Elevator, said the merger strengthens the company’s growth engine by combining its manufacturing platform with Ricardo’s execution capabilities and retail presence. The company said it will release a detailed investor presentation outlining the strategic aspects of the transaction, with an investor conference call scheduled separately.

Real Estate

04 Aug 2026

LML Realty Launches Cinema Campaign on Industrial Vision

LML Realty has launched a cinema advertising campaign in partnership with PVR INOX across 81 screens in Gurugram and Faridabad, showcasing the brand’s transformation from a mobility icon to an industrial infrastructure developer.The campaign features a cinematic brand film tracing LML’s journey since 1972, beginning with its iconic scooters and highlighting its evolution into creating infrastructure solutions that support India’s manufacturing growth.The film focuses on LML Industrial Park at Jhirka Valley, the company’s flagship industrial development approved under the Haryana Govern..

IIM Ahmedabad Publishes Case Study on HoABL’s Business Model

The Indian Institute of Management Ahmedabad (IIMA) has published a case study on The House of Abhinandan Lodha (HoABL), examining the company’s digital-first consumer journey and business model that created India’s branded land category.Titled “HoABL: Ready for Scaling Up”, the case study has been published by the IIMA Case Centre and co-authored by Sourav Borah, Associate Professor of Marketing at IIMA, and Dr Aparna Kansal of IMT Ghaziabad. IIMA case studies are used across management and executive education programmes to help students and business leaders analyse strategic decision..

Advait Energy and MEIL Partner for Energy Transition Projects

Advait Energy Transitions Limited (AETL) and Manipal Energy Infratech Limited (MEIL), a company of The Manipal Group, have entered into a strategic Memorandum of Understanding (MoU) to collaborate on power and energy transition opportunities across India and international markets.The partnership aims to combine AETL’s expertise in innovative energy technologies and manufacturing with MEIL’s EPC execution capabilities and project management experience. The collaboration will focus on opportunities across Power Transmission & Distribution, Renewable Energy, Battery Energy Storage Systems..