Otis India eyes double digit growth

Otis India’s Sebi Joseph said the company would increase the capacity of its factory in Bengaluru by about 20% to cater to the growing demand.
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With the luxury and commercial real estate sector in India doing well and the metro rail segment growing rapidly, Otis India, the biggest elevator company India, is eyeing to sustain double-digit growth, its president told The Hindu 

“We are very pleased to retain, sustain the leadership position in new equipment and service. We introduced about 25 plus products over the years, from Bengaluru, focused high on indigenization, localization, which helped in growing our market share, gaining leadership, growing top line, bottom line, and catering to the aspirations of the Indian consumers,” Sebi Joseph, president, Otis India told in an interview.

“Today, about 95% of the India’s requirement is met by our Bengaluru factory,” he said adding all segments that company operates in are growing steadily. 

“We will be growing in double-digit in revenue this year too, and we intend to do that even next year. So double digit in key matrices. We are growing our market share consistently,” he said. Post COVID, the company has been growing in double digits, he said.

He said the company has announced to increase the capacity of its factory in Bengaluru by about 20% to cater to growing demand.

“The product innovations will continue. We are going to higher speeds in India. As market grows and India goes high rise, so we are in tune with India’s growth, and at times ahead of India’s,” he added.