Busi n e ss i n di a u the m aga zi n e of the cor por ate wor ldCorporate Reports

u 100 u

octoBer 21-nov emBer 3, 2019

(enta 100 and enta 200), which has a wide portfolio of innovative prod-ucts. one-of-a-kind, its twin passen-ger lift is industry’s first system with two independent cars, one on top of the other, in one shaft. it provides the same conveyance capacity in 25 per cent less space.

its multi series passenger lift is the world’s first rope-free elevator. By moving multiple cars in a single shaft vertically and horizontally, multi lifts ensure shorter waiting times and have significantly increased capacity on the back of a smaller elevator foot-print and substantially reduced ele-vator weight and mass. thyssenkrupp has also introduced max, the elevator industry’s first real-time, cloud-based predictive maintenance solution. the company also provides customised solutions in freight and car elevators.

in the residential segment, the company has installed and is main-taining its elevators in projects like Bestech grand spa and iconic tower, gurgaon; Blossom greens, noida; Bri-gade gateway, Bengaluru; genexx val-ley, Kolkata; jk house, mumbai; dlf gachibowli, hyderabad; and prince foundation, chennai. on the com-mercial segment, it has presence (cli-entele) in Kanakia atrium, Boomerang and times square in mumbai; eric-sson Building and dlf Building 5 in gurgaon; dlf it park, chennai; dlf it park, Kolkata; and toyota nippon, Kochi. in the infrastructure space, the company boasts of having several air-ports (where it has installed and is maintaining the systems), including

Bengaluru international airport, delhi international airport t3 and mumbai international airport

Service and maintenanceapart from installing new elevators and escalators, the company has main-tained a strong presence in services and maintenance. in fact, services and maintenance accounts for almost 10 per cent of the market value. it has a team of over 950 service employees, which maintains more than 22,000 units in india at present. Besides, it is also into providing modernisation/upgradation solutions, where it has helped improve overall performance and reliability of the elevator and thus augmented elevator life. replacement market is also emerging as a major opportunity for the company.

“all these areas will receive further boost as the authorities come up with stringent regulations to strengthen the safety parameters,” informs mehan. “currently, about 10 states have their codes, but, as the market matures, these codes will be spread further to other states”. he also feels that, with the indian market get-ting matured, customers are increas-ingly looking to organised players and this shift is helping companies like thyssenkrupp to increase their pie in the market.

moreover, the company, which has been primarily focussing on major cities till now, is also planning to look at tier ii and iii cities, which are witnessing consistent growth in high-rise building.

“despite the ongoing real estate slowdown, tier ii and iii cities have shown a great deal of resilience,” remarks ashok Kumar, founding prin-cipal & managing director, gennex partners. “though the market, partic-ularly residential, is struggling due to recent policy related changes, long-term prospect of the indian mar-ket is quite intact. while office has been doing well, there is emergence of other asset classes within real estate. infrastructure continues to present good prospects”.

with all these developments in place, thyssenkrupp elevator (india) is all geared up to explore the indian market, going forward. reiterating its long term commitment, the company has significantly ramped up its capabil-ity in the last few years. By putting up the multi-purpose (integrated) man-ufacturing facility at chakan, as also other assets for customer interface, the company has not only shown its com-mitment but also prepared itself for commencing its next growth phase in india, which has emerged as its second largest market after china.

Being a part of a global conglomer-ate (the hallmark of which is its cut-ting edge technology and innovation) will certainly provide the company a distinct edge in a market which is rapidly transforming. with customer becoming more discerning and safety conscious in the backdrop of chang-ing regulatory framework, the market is shifting into a more organised set up and there will be more demand for quality products and services. all this has also opened up huge opportunity in the replacement market.

going forward, the company will also have to diversify its offering. cur-rently, it is heavily depending upon residential segment which has been under pressure for some time now. no doubt, residential segment offers huge opportunity (despite some temporary hiccups) in the long run, the diversifi-cation into other segments like infra-structure (airports) will not only add to its growth momentum but also pro-vide the much needed hedging against market vagaries. moreover, it will add to its bottomline since infrastructure improves margin.

u a r B i n d g u p t a

arbind.gupta@businessindiagroup.com

Chakan manufacturing facility