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Nibav Home Lifts, a Chennai-based manufacturer of home elevators, on Monday launched its fourth facility in Chennai to meet its export demand.
Started in 2019, Nibav Home Lifts manufactures pneumatic vacuum elevators, which have a cylindrical vertical shaft and a car that is operated by controlling air pressure.
The 50,000 sq ft facility is located on East Coast Road (ECR). The company also has two R&D centres in Chennai.
The additional manufacturing capacity will allow it to supply more its Indian-made European standard home lifts to 14 countries, the company said.
Vimal R Babu, CEO and founder of Nibav Home Lifts, said the company’s sales increased from ₹150 crore in 2021 to ₹400 crore in 2022; it crossed the product milestone of 1,000 lifts in Q1 CY 2023.
Nibav Home Lifts also announced it would recruit over 4,500 employees by the end of December 2023, taking the headcount to 6,000.
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