Hybon Elevators Eyes Rs 200 Cr Revenue in FY25; Plans Rs 25 Cr R&D Investment  

New Delhi, Feb 16, 2024: Hybon Elevators and Escalators, has announced a strategic expansion of its presence across India, targeting key cities such as Dehradun, Jaipur, Lucknow, Hyderabad, and Bangalore and aims to achieve a revenue of 200 Cr INR in FY24-25, says a press release issued by the company. The company also plans to explore international markets in Russia and Central Asia. The company has also earmarked an investment of Rs 25 Cr towards research and development at its cutting-edge 75,000-square-foot manufacturing plant in Noida.

In response to a 20% surge in demand within the elevator market, this investment aims to double the company’s production capacity from 900 to 1800 units annually. 

Ratan Sehgal, Managing Director of Hybon Elevators and Escalators, stated, “We aspire to become the leading name in elevator marketing with this expansion plan. Our elevators represent a fusion of luxury and technology, prioritizing sustainable solutions to ensure a greener Net Zero future for the nation. 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.”