Ricardo Elevators
Ricardo Elevators (also known as Ricardo Elevators (House of LT Elevators)) is an Indian elevator manufacturing and vertical mobility solutions company headquartered in Hyderabad, Telangana. The company provides end-to-end elevator solutions across India, including customised elevator design, in-house manufacturing, installation, commissioning, and post-sales service. Ricardo Elevators serves residential, commercial, and infrastructure segments, and is positioned as a modern Indian brand focused on localisation, safety, and quality-led execution. Operating under the House of LT Elevators, the company has emerged as an Indian-origin challenger brand in a market traditionally dominated by multinational elevator companies.
Overview
Ricardo Elevators operates as a vertically integrated elevator company with capabilities across the entire project lifecycle. The company designs elevator systems based on customer requirements and building specifications, manufactures key components in-house, and manages installation and commissioning through internal execution teams. This model enables tighter quality control, faster delivery timelines, and standardised safety practices across projects.
The company’s product and solution portfolio addresses diverse needs, including elevators for villas, independent houses, duplexes, triplexes, and commercial buildings. Its market presence is pan-India, with a growing focus on expansion beyond metro cities into emerging residential and commercial hubs.
Products and services
Ricardo Elevators delivers elevator and vertical mobility solutions designed for Indian building conditions and customer preferences. The company’s offerings include customised elevators aligned with architectural constraints, spatial limitations, and aesthetic requirements. In addition to product delivery, the company manages installation, commissioning, periodic maintenance, and post-sales service support.
A key differentiator of Ricardo Elevators is its emphasis on 100% in-house execution, with design, manufacturing, installation, and sales handled internally with minimal outsourcing.
Unique selling propositions
Ricardo Elevators differentiates itself within the Indian elevator industry through several strengths:
- Custom-designed elevators
- Make-in-India manufacturing
- End-to-end in-house control
- International standards at Indian budgets
- Diverse portfolio
- EMI facility
Target audience
Ricardo Elevators serves both consumer and enterprise audiences. Its residential customer base includes mid-to-high-income homeowners requiring premium elevator solutions for villas and independent residences. The company also caters to budget-conscious buyers through flexible EMI options and works with builders, architects, and developers across India.
Competitive landscape
Ricardo Elevators operates alongside global elevator brands such as TK Elevator, KONE, Mitsubishi, Schindler, and Otis. The company differentiates itself through localisation, cost flexibility, faster execution, and in-house control over manufacturing and installation.
Expansion goals
The company has focused on aggressive expansion across India’s Tier-2 and Tier-3 cities. In parallel, Ricardo Elevators has pursued international exposure in markets such as Australia, Malaysia, and Southeast Asia, with a long-term vision of becoming India’s No.1 elevator company.
Engineering milestone
Ricardo Elevators has been associated with the launch of India’s first traction elevator with zero pit, designed to address space constraints in modern homes while maintaining safety and performance.
Awards and recognitions
- GMV Industry Award
- FM Radio Business Excellence Award
- Times of India recognition
Founder and leadership
Ricardo Elevators was founded by Sagar Kallepelly, who serves as Founder and Managing Director. Under his leadership, the company strengthened manufacturing capabilities and reportedly scaled to around ₹100 crore in revenue within approximately two years.
Public positioning and thought leadership
The company has focused on positioning Sagar Kallepelly as a thought leader within the Indian elevator and vertical mobility industry through leadership-driven communication and brand storytelling.
Partnership outreach
Ricardo Elevators has invited franchise partners across India and collaboration with architects, builders, developers, and channel partners.