Ricardo Elevators Targets 40 Touchpoints by 2026, Accelerating Pan-India and Global Expansion

Ricardo Elevators Targets 40 Touchpoints by 2026, Accelerating Pan-India and Global Expansion​

Ricardo Elevators, the home elevator brand associated with L.T. Elevator Limited, is significantly accelerating its physical and international footprint. The company has set an ambitious target of achieving 40 customer touchpoints by December 2026, solidifying its position as a leading home elevator provider across India and global markets.

The rapid scaling includes opening new Experience Centres in high-growth Indian markets and securing major regulatory clearances and market entry points in Oceania, the Middle East, and Southeast Asia.

Expanding Operational Footprint in India​

The brand is building a comprehensive omni-channel home elevator platform, designed to allow homeowners, architects, and developers to engage with the premium home elevator experience.

Recently, Ricardo opened new Experience Centres in Lucknow and Jammu, enhancing its domestic presence in key markets. Overall, the company currently operates 21 experience centers across India, with three additional centers scheduled to open within the next two months.

Ricardo Elevators’ extensive network of operational centers includes:


Furthermore, the pipeline includes three significant locations: Pune, Goa, and Vizag (Visakhapatnam), targeting the thriving IT hub, premium residential, and coastal hospitality markets, respectively.

International Milestones and Global Reach​

The expansion strategy is heavily focused on establishing regulatory compliance and operational presence abroad.

Australia Regulatory Approval:
Ricardo Elevators (Aus & NZ) Pty Ltd has secured its Plant Design Registration Certificate from SafeWork NSW. This certification is crucial, as it is a prerequisite for the legal sale, installation, and commissioning of elevators in New South Wales, Australia.

The successful registration pertains to the RALPH200R Machine-Room-Less (MRL) Home Lift, which features:


With this regulatory hurdle cleared, the company has received three confirmed orders from Australian customers.

Entry into Malaysia:
The brand has commenced exports to Malaysia and has already executed confirmed orders. Malaysia is viewed as a strategic beachhead for the broader ASEAN region due to its status as Southeast Asia's most mature premium residential market. A key differentiator in this market has been India's first powder-coated Malaysian Shaft, engineered for pitless, headroom-free installations.

Building the 40-Touchpoint Vision​

Beyond existing markets, Ricardo Elevators is actively discussing partnerships across several high-growth international regions. The company expects to formalize agreements in locations such as:


The 40-touchpoint target by December 2026 encompasses company-operated Experience Centres (including Flagship showrooms in Hyderabad, Delhi, and Chandigarh), the 21+ physical centers across India, and international country partners in Australia and Malaysia, with a pipeline in the UAE, Oman, Thailand, and Indonesia.

According to the company, each mature Ricardo store is expected to contribute ₹ 6+ Crore in annual revenue, making the network rollout a direct multiplier on the company’s top line.

Mr. Yash Gupta, Director, L.T. Elevator Limited, stated, "We are building the Rolls-Royce showroom experience for home elevators in India and internationally. Every touchpoint - whether a company experience centre or a trusted channel partner - must embody the same level of product knowledge, design sophistication, and aftersales assurance that the Ricardo brand promises."

Stock Price Movement​

L. T. Elevator Ltd shares settled at ₹229.50 today, ticking up 3.31% on Monday. The stock found support at ₹224.70 and topped out at ₹234.00 during the trading session.