LT Elevator hopes to cross Rs 400-cr revenue mark by FY2028
Times of India | 21 January 2026
Kolkata: City-based LT Elevator is hoping to cross the Rs 400-crore mark in revenue by FY 2028. The company is already on the verge of crossing the Rs 150-crore mark by the end of this fiscal following the acquisition of Ricardo Elevators. It is also planning to form a partnership with a South Korean company for mechanical parking.
LT Elevators director Yash Gupta said the company was also looking at global expansion through inorganic opportunities overseas. According to Gupta, the company now has revenue of Rs 100 crore. "We are one of the largest companies in mechanical car parking in eastern India," he said.
Gupta said one of its group companies had recently bought land near Uluberia for a second manufacturing facility in the state. The current facility is built across 1.2 lakh square feet and produces 600 elevators per year. The new facility would be 2.5 lakh square feet and would produce 1,200 elevators per year.
Elaborating on the acquisition of Ricardo Elevators, Gupta added that it bought both the company and its order book, and it merged. As part of the merger, Ricardo Elevators' operations and team will be integrated into LT Elevator Ltd. Ricardo Elevators founder and CEO Neeraj Hemnani will continue with the organisation and will head the home elevator division.
Ricardo has a strong retail presence. "This merger meaningfully strengthens our growth engine. The combination of LT's engineering-led manufacturing platform with Ricardo's execution and retail presence positions us for a significantly higher revenue scale ahead, while maintaining discipline on costs and margins," added Gupta.