Thyssenkrupp Elevator (India) MD Bharat Vishnani says the next phase of capacity expansion, which is planned for 3-5 years from now, will ramp up production to 10,000 units a year. Mumbai: Germany's Thyssenkrupp expects revenue from its elevator business in India to grow to ₹1,000 crore over the next three years from ₹700 crore in the fiscal year ended September 2017. With India being the second largest market for elevators after China, Thyssenkrupp expects this segment to grow at 14-15% over the period. "Demand for elevators in India is at about 56,000-57,000 units a year; that's about ₹9,000 crore a year, of which a tenth is revenue from elevator maintenance," Bharat Vishnani, managing director, Thyssenkrupp Elevator (India) Pvt. Ltd, told Mint in a recent interview. "Growth in the elevator business is directly linked to that of the real estate market, and both had tapered off in the last 2-3 years. Going forward, however, we expect demand to pick up, particularly in the residential