The Real Estate Boom Has a Silent Beneficiary

When a building is completed, the spending doesn't stop. That's when the annual maintenance bill begins. Elevators require regular servicing, safety upgrades and modernization throughout their lifecycle. As India's stock of residential towers, offices and malls expands, the elevator service market could grow faster than new installations. Companies like Johnson Lifts (unlisted), KONE India (subsidiary), while listed beneficiaries include

, , and , which are exposed to the broader building services ecosystem.