Abhishek Securities

Otis India, a leading manufacturer and maintainer of elevators, escalators and walkways, has announced a ‘green’ modernisation package for old elevators,based on its Gen2 elevator family technology. “Apart from upgrading the elevators, the new Gen2 MOD package will bring elevators in need of renovation up-to-date with the latest technology in safety, comfort and environmental standards as well as enhance the passenger experience,” Otis India said. The Gen2 MOD will be provided from Otis’ India factory in Bengaluru. The Gen2 MOD package employs a smart- retention programme where reusable parts from the older system are retained in the new system. Reduces downtime This further aids in minimal interference with the structural part of the building, reduces the downtime period and minimises inconvenience to residents, the company said. “We’re excited to extend the efficiency and innovation of our Gen2 technology to our modernisation customers.” said Sebi Joseph, president, Oti...

Elevator and escalator sales are expected to grow by 7% and 66% respectively this year due to increased demand from affordable housing and infrastructure projects including metros and airports, industry officials and analysts said. Residential segment The residential segment, especially affordable housing, is projected to drive growth in elevators. The residential segment accounts for more than 80% of the demand for elevators in the country. “This year, the sales volume of elevators is expected to grow to 60,000 units, as compared to 56,000 units last year, up 7%,” said Uday Kulkarni, MD, Schindler India. “However, escalator volume is expected to rise sharply to 3,000 units as compared to 1,800 units last year, up 66%, mainly on account of demand from metros and railways.” Lower GST on elevators for affordable housing at 8% will act as a catalyst, he said. “Infrastructure development presents a great opportunity for growth with the government’s focus on development,” said...

With a new office in Vijayawada, Andhra Pradesh, Otis Elevator Company (India)  is ready to meet the growing demand in the region. The new office strengthens the company’s existing service presence and will cater to the growing demand for vertical transport solutions in the city and surrounding areas, enabling Otis to develop closer relationships with customers to better serve them. Otis, the world’s leading manufacturer and maintainer of elevators, escalators and moving walkways, has is a unit of United Technologies Corp. “We have had a strong presence in Vijayawada for a long while with many reputed customers. The growth that the city promises further prompted our desire to be closer to customers by establishing this new office,” says  Sebi Joseph, President, Otis India.  Otis already works closely with BVR Mall and India American Hospital in Vijayawada. Otis India has the largest elevator and escalator service network in-country with approximately 80 centres, covering...

Otis Elevator Company , an unit of  United Technologies  has made a name for itself as the world’s leading manufacturer of elevators, escalators and moving walkways, but what a lot of people are not aware of are their unique HR policies when it comes to their Indian employees.  One of them is their flagship Employee Scholar Program. This company-sponsored employee education program empowers employees to expand their knowledge in their current field, or learn new skills for a different career path. They are encouraed to obtain a degree in any field, whether or not it is related to their work duties.  "The idea is to promote the advancement and development of our employees through education — not just to help them in their current jobs but also to give them a chance to prepare for the jobs of tomorrow," stated Sebi Jospeh, President,  Otis  India  Under the program, every employee at Otis is eligible to take upto three hours of paid time to study ev...

Otis has been selected to provide high-speed elevators to the prestigious Altairproject in Colombo, Sri Lanka, which when complete will be the tallest residential building in Sri Lanka and will have the country's fastest elevators.Otis, the world's largest manufacturer and maintainer of people-moving products, is a unit of United Technologies Corp. (NYSE: UTX). Elevators Private Limited, a JV entity between Otis and Aitken Spence, will install the elevators. "Otis is a natural choice for a demanding construction like the 68-floor Altair project, especially because of the reliability and performance that Otis elevators promise. It's been a great opportunity for us to partner an international franchise and to showcase the capabilities of the Otis range in a local setting and we are looking ahead for the completion of the project," commented Surendar Mariappan, Joint Managing Director, Aitken Spence Elevators. Altair will reach 240 metres – 68 floors – consisti...

Since 2015,  Otis India  has supported  SOS Children’s Villages  of India and in that time donated funds to provide quality education to nearly 1,800 parentless children in 25 SOS Children’s villages spread across India. Otis’ support for SOS Children’s Villages is part of the United Technologies Green Shoots corporate social responsibility initiative. Otis, the world’s leading manufacturer and maintainer of people-moving products, including elevators, escalators and moving walkways, is a unit of  United Technologies Corp .   “Under the UTC Green Shoots programme, we get the opportunity to come together and do something for a larger good,” said  Sebi Joseph, president, Otis India . “We believe everyone emerges a winner from engaging in such a programme. It is a great feeling for us, knowing that we at Otis are supporting the future generation.”   Green Shoots  is an employee-driven volunteer program in Asia to support primary-age childre...

 The market for elevators in India is projected to grow at a compounded annual growth rate of over 8% between 2016 and 2021 with the size of the market forecast to cross $1.6 billion in 2020, according to research firm TechSci Research. Increasing urbanization, growing demand for high rise buildings and government initiatives such as 100 Smart Cities and AMRUT cites were cited as the major growth drivers for the segment in the report titled India Elevators and Escalators Market By Type of Carriage, By Elevator Door Type, By End Use Sector, Competition Forecast & Opportunities, 2011 - 2021, released this month. The research agency had projected the growth to cross $1.6 billion in 2020 in a separate report titled India Elevators Market Forecast and Opportunities, 2020 in September last year. The government's focus towards modernization of airports and railway stations are also projected to drive elevators and escalators market in the country during forecast period, said the r...

Philippe Delpech, President, Otis We will be manufacturing escalators in India soon, says Philippe Delpech, President, Otis Otis built the first elevator in the world 163 years ago and has since been the leader in the industry uninterrupted. The company, which is now a part of United Technologies Corporation, maintains about two million elevators in 200 countries/territories across the world moving about two billion people everyday. Philippe Delpech, President, was on a visit to India recently. BusinessLine caught up with him in Chennai. Excerpts from the interview: What kind of innovations are we seeing in the elevator business? The elevator is going to go through a dramatic revolution. I think what will happen in the next decade is that the digital part will be the big stream of innovation. Basically, if you visualise the elevator, it is a box going up and down — very safe, pretty sophisticated if you look at the system. It is connected to the other el...

AT&T, Otis partner on Internet of Things services * AT&T has tied up with Otis Elevator Company to enhance connectivity through the use of Internet of Things (IoT) products - services and technologies that employ digital technologies to better connect with customers and with elevator, escalator and moving walkway equipment.  As part of this collaboration, AT&T and Otis, a unit of United Technologies Corp, are expanding their long-standing relationship to develop the connectivity to support advanced elevators while also providing mobility to over 30,000 service employees at Otis companies worldwide, the company said in a statement. Sandip Ginodia , Director ABHISHEK SECURITIES We deal in over 60 unlisted companies with 15 years of experience . For latest prices visit :  www.abhisheksecurities.com/unlisted.htm  / call : 09830271248 . Email :  ginodiasandip1@gmail.com

Otis Elevator Company (India) has finalised an agreement with Mantri Developers to provide more than 1,000 elevator and escalator units for the builder's residential, commercial, retail and villa projects over the next few years.  Otis India is a unit of United Technologies Corp. It has the largest elevator and escalator service network in the country, covering about 300 cities and towns with its 80-odd centres.  "Mantri is a well-respected, future-focused developer and we are delighted with this agreement," said Sebi Joseph, president, Otis India. "At Otis, we find that working with the customer allows us to offer solutions that positively impact their business."  In a move to strengthen its presence in the country, Otis India last year announced the expansion of its Bengaluru manufacturing facility, where most units for the Mantri projects will be made. The Bengaluru factory supports Otis focus on local innovation and continued investment in manufacturin...

Otis  Elevator Co., the manufacturer and service provider of elevators, escalators and moving walkways, regained its No. 1 position in the sector in India last year. A unit of  United Technologies Corp.  of the US, it had lost its No. 1 position to Johnson Lifts, a Chennai-based company, six years ago. Going down In India, Otis’s legacy began with the installation of the nation’s first elevator at Kolkata’s Raj Bhavan in 1892, which is still running in its original birdcage form. Ever since Otis India’s inception in 1953, the company has enjoyed a high market share and top-of-mind brand awareness. However, as competition (both local and global companies) entered the market, with faster deliveries and cheaper products, Otis India started losing its market share. In 2008, the company lost its No. 1 position. One of the reasons for slower response at Otis India was that operations were centralized and, therefore, a lot of activities went under the scanner of the head o...