Lloyds Engineering Works (LEWL) announced that its 88%-owned subsidiary, Techno Industries (TI), has secured a Rs 19.58 crore order from Mumbai Railway Vikas Corporation. The contract covers the design, manufacturing, supply, installation, testing, commissioning, and maintenance of escalators.
With this award, TI's confirmed order book now stands at Rs 82.86 crore. The Indian Railways sector offers vast and sustained growth opportunities, and this order serves as a significant entry point for TI to establish a strong, long-term presence in this high-potential Railway sector.
The contract, secured outside Gujarat, also reflects the company's strategic focus on broadening its geographical footprint, scaling its escalator and AMC businesses, and tapping into India's expanding institutional infrastructure sector.
This win marks early execution of LEWL's multi-pronged growth strategy for TIexpansion into tier-2/3 markets, diversification into industrial elevators, parking systems, and export markets, and scaling its motors and pumps verticals. Well positioned to capture the rising demand for elevators, escalators, motors, and pumps, TI is fully geared to meet this demand effectively, supported by strong market fundamentals and execution capabilities.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
