June 8: Envisaging a sudden growth in the real estate scenario in India, elevator and escalator manufacturing major Kone is looking to bring in addition capacity to fulfil demand from the sector. Going by the strategy of having more supply as per demand, the company has lined up efforts to build a new manufacturing unit in the country.
The new unit will be Kone’s second in India, and will come up in the suburbs of Chennai. According to reports, the company feels that the realty scene in the country, though going through a slowdown, would be back on track by year 2019.
As demand for housing would remain high, the real estate business would also get back on stream, it said.
Though the company was hit by the downturn in the realty sector, the company is hopeful that it would see long term growth thanks to the demand that exists
Pointing out that housing is key for the company’s growth, Kone India Managing Director Amit Gosain has reportedly said that though demonetisation had pulled down the sector, the company is confident of a reversal as the Union government has adhered to and taken some positive decisions.