ETA Melco eyes 20% growth in turnover

ETA Melco Engineering Company Private Limited, the sole distributor of Mitsubishi elevators and escalators in India, is eyeing a growth of 12-20 per cent in turnover, from Rs 250 crore last year to Rs 280 crore-Rs 300 crore this year. The Mumbai-based company expects the Hyderabad market to contribute close to 20 per cent to this turnover.

The company is also looking at tapping the mid-category of the elevator and escalator market, estimated to be worth around Rs 500 crore with a volume of 4,500 units. In the hi-end segment, ETA Melco claims to have a market share of 30 per cent.

Addressing the media, H N Sadaqathullah, general manager, ETA Melco Engineering Co Pvt Ltd, said, "We have so far sold 2,500 units of elevators and escalators in India. This year, we already have an order book of 300 units, amounting to around Rs 70 crore of business. We expect to garner revenues between Rs 280 crore and Rs 300 crore this year."

Mumbai contributes 35 per cent to ETA Melco's business in India, followed by Chennai and Delhi at 17 per cent each, Hyderabad and Kolkata at 11 per cent each and Bangalore at 9 per cent. "This year, we expect around 20 per cent of our revenues to come from Hyderabad," Sadaqathullah said.

In Andhra Pradesh, the company plans to install 300 units by 2008. At the Hyderabad International Airport, the company will be installing 23 escalators and 29 elevators worth Rs 17 crore. Some of the company's elevators have been installed at the Indian School of Business, HSBC and Hotel Taj Krishna.