Nibav Home Lifts launches fourth manufacturing unit in Chennai

CHENNAI: Embarking on its journey to become a billion-dollar company by the end of December 2024, Nibav Home Lifts, India’s largest home lift brand, on Monday announced the expansion of its India-made home lift manufacturing operations.

The company has announced the launch of its fourth manufacturing facility, spread across 50,000 sqft and located in Akkarai on ECR – Chennai, which will accommodate new home elevator production equipment.

The additional manufacturing capacity will allow Nibav to increase the supply of its Indian-made European standard home lifts to recently expanded 14 foreign countries, while India continues to be a primary market.

Nibav Home Lifts also announced its ongoing recruitment plans of adding over 4,500 employees by the end of December 2023, taking the total headcount to 6,000.

Vimal R Babu, CEO-founder of Nibav Home Lifts said, “Right from its inception in December 2019, Nibav Home Lifts has seen strong business growth. While we have grown from the sales value of Rs 150 crore in 2021 to Rs 400 crore in 2022, we have already crossed the product sales milestone of 1000 lifts in Q1 of this calendar year 2023. With the demand for in-home mobility solutions increasing worldwide and the growing preference for Indian-made products, we are aiming to emerge as the number one home lift-selling brand in the world by December 2024 and mark our entry into a billion-dollar revenue club in a more meaningful manner.”

He added, “We have been witnessing a great customer demand for Nibav’s home elevators not just in India but from the countries such as Canada, Switzerland, Australia, Malaysia, Thailand, and elsewhere.”