Hitachi Ltd. on Monday declared that it has been awarded a contract to supply a total of 106 elevator units by Phoenix Group for Phoenix Spaces 285 and Phoenix Aquila, which are large-scale office buildings to be constructed in Hyderabad.
Hitachi Building Systems Co., Ltd. (“Hitachi Building Systems”) and Hitachi Lift India Pvt. Ltd. (“Hitachi Lift India”) which is in charge of sales and maintenance service for elevators and escalators in India has got this largest order for Hitachi group’s elevators and escalators in India.
The new installation market for elevators and escalators in India exceeds 50,000 units per year, making it the world’s second largest market, with strong potential for continued steady growth.
“Our value-added differentiated products are gaining widespread acceptance with our customers and we have a robust pipeline of innovative solutions to deliver on our five-year profitable growth trajectory,” said Vayu Garware, CMD, Garware Technical Fibres.
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Shares of the company closed at Rs 1,220 on BSE, up 2.6 percent the previous close.