JLPL has recently bagged contracts over Rs 300 crore in Maharashtra from Metro and Railways, please share some more details.
We have experience of 12 metro projects in India, and now we will be delivering lifts for 29 metro stations of Mahametro. The delivery will be in batches as the development of stations progress, starting from March 2020 till 2021. The standards for lifts is as set by Delhi Metro Rail Corporation (DMRC). The lifts have double safety measures, alert systems and other functionalities. The station master can keep a track of its operation round the clock.
What is current market share of JLPL in India and how is JLPL a differentiator in this industry?
Indian market is about 65,000 units for lifts and 2,500 for escalators. In India, we have about 22 per cent market share in the lift industry and 48 per cent in escalators. We have a capacity of production of 16,000 lift units from our four different plants located in Chennai and Nagpur. What makes us different is that we are 56 years old in the business and in 2019, we have delivered 12,000 plus units of lifts and have crossed Rs 2,000 crore mark. Apart from competitive pricing, we bank on relationship selling. We have over 54 branches in India and six overseas, 10,000 employees and 4,500 service mechanics, which help in providing prompt service. We have vast experience of handling large infrastructure projects, which reflects our capabilities. When it comes to service, in case a person is stuck in our lift, all they have to do is call on the helpline number and our service mechanic will reach at the earliest. We also believe in strong after sales service and regular maintenance and so we have mobile service vans, which can provide spare parts and other services at faster rate.
Has the slowdown in real-estate sector impacted business and how is current infra scenario?
It was slightly affected in Delhi NCR and Mumbai but not in Pune. In Pune, we are growing well and touching about 5,500 units of lifts, of which 70 per cent is residential, 15 per cent commercial. Our current consumption of lifts in India is about 65,000 units whereas in China, it is about 6 lakh units. With the government launching various infrastructure projects like UDAN scheme and smart city projects, I feel the industry will grow by 10 per cent.
What are your latest developments?
Our latest product is ‘Eazy Ride’ elevators, which is a single phase elevator and can be used in bungalows. Besides, we are also working on Internet of Things (IoT) enabled elevators where you can operate and control the elevator using internet.