Hybon Elevators & Escalators Plans Rs 25 Cr Investment In R&D
Hybon Elevators and Escalators, a leading brand in the Elevator and Lift industry, has announced a strategic investment of 25 Crore INR towards product research and development at its state-of-the-art 75,000-square-foot manufacturing plant in Noida. Witnessing a surge in demand by 20% in the elevator market, this investment aims to double the company's production from 900 to 1800 units annually, focusing on enhancing the quality and standards of Hybon's technology. The company aims to achieve a projected revenue of 200 Cr INR in FY24 -25. Aligning with its vision to establish a global footprint and drive growth, Hybon Elevators and Escalators aims to explore international markets in Russia and Central Asia, while expanding its national presence in key cities such as Dehradun, Jaipur, Lucknow, Hyderabad, and Bangalore. The successful launch of the Experience Center in Chandigarh has paved the way for the brand to increase and double down its expansion efforts. Addressing the vertical mobility needs of Indian households, Hybon is committed to pioneering innovative solutions in lifts such as the Internet of Things (IoT), Remote Monitoring Systems, and pitless lifts, aiming to elevate experiences and transform lives. The company’s unique Experience Centres allow customers to interact directly with the elevators, ensuring their needs are met with satisfaction. Ratan Sehgal, Managing Director of Hybon Elevators and Escalators, stated, “We aim to become the leading name in elevator marketing with this expansion plan. Our elevators represent a fusion of luxury and technology, prioritising sustainable solutions for a greener future. By addressing customer needs and enhancing accessibility, we aim to elevate experiences and transform lives. We believe every ascent should be seamless and every journey remarkable.” Over the next 5 years, Hybon Elevators aims to emerge as one of the Top 3 Indian Elevator manufacturers, recognized as the "Most preferred Elevator Brand" in India. The company's dedication to technological advancement, product enhancement, and fostering a culture of excellence underscores its commitment to delivering exceptional customer experiences
Tags : Ratan Sehgal technological advancement product enhancement fostering Indian households Hybon Hybon Elevators Escalators Lift industry