Otis Elevator Company: Revolutionizing Elevator in India
Introduction
Established in 1953, Otis Elevator Company (India) Limited has grown to become the largest elevator company in India, both in terms of portfolio and revenue. Headquartered in Mumbai and operating as a subsidiary of United Technologies Corporation, Otis India is renowned for its state-of-the-art manufacturing facility in Bengaluru and its extensive network of service centers across 300 cities.
In our latest blog post, we dive deep into the journey and achievements of Otis India. Here’s a sneak peek into what you can expect to learn.
Company Overview
Otis India specializes in manufacturing elevators, escalators, and moving walkways, alongside offering comprehensive installation and maintenance services. The company’s dedication to innovation and customer satisfaction has solidified its market leadership.
Key Facts:
- Founded: 1953
- Headquarters: Mumbai, Maharashtra, India
- Service Network: 97 service centers operational 24/7
- Manufacturing Facility: Bengaluru
Product Portfolio
Otis India offers a diverse range of products tailored to meet various vertical transportation needs:
- Low-Rise Lifts: Ideal for buildings up to two floors, featuring compact design and quick installation.
- Mid-Rise Lifts: Suitable for buildings up to five floors, offering customizable configurations and energy-efficient options.
- High-Rise Lifts: Designed for tall buildings and skyscrapers, ensuring high-speed operation and robust construction.
- Escalators and Moving Walks: Providing efficient horizontal transportation for environments like shopping malls and airports.
Financial Performance
Otis India’s financial health is robust, with impressive revenue growth and profitability.
Financial Highlights (FY 2023):
- Revenue from Operations: ₹2435 crore
- EBITDA: ₹200 crore
- Profit After Tax: ₹155 crore
- Interim Dividend: Rs 100 per share
Industry Insights
The Indian elevators market is experiencing significant growth, driven by rapid industrialization and the construction of high-rise buildings. Otis India is at the forefront of this growth, leveraging technological innovations and sustainable practices to meet evolving market demands.
Recent Achievements
- Bengaluru Airport’s Terminal 2: Otis India has enhanced passenger experience by supplying 107 units, including escalators, elevators, and moving walks.
- Burj Khalifa Contract: Otis Elevator Co. has secured a major contract to upgrade vertical transportation in the world’s tallest building.
Conclusion
Otis Elevator Company (India) Limited continues to lead the vertical transportation industry with its innovative solutions, robust financial performance, and commitment to customer satisfaction.
Explore More
For a detailed exploration of Otis India’s journey, product portfolio, financial performance, and industry insights, read the full blog post on our website.
🔗 Read the Full Blog Post Here: Otis Elevator Company: About the Company
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