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.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..