Hitachi Receives Order for 56 Elevators and Escalators for CRC The Flagship in Noida, India

External View of CRC The Flagship (Planned image)

New Delhi, India, October 17, 2024 – Hitachi, Ltd. (TSE: 6501; hereafter Hitachi), today announced that Hitachi Building Systems Co., Ltd. (hereafter Hitachi Building Systems) and Hitachi Lift India Pvt. Ltd. (hereafter Hitachi Lift India), a subsidiary of Hitachi, Ltd. which operates sales, installation, and maintenance of elevators and escalators in India, successfully secured an order for 56 units of elevators and escalators from CRC Group for CRC The Flagship in Noida, Uttar Pradesh, India. The project is one of the most prestigious commercial projects in Noida.

The order consists of 44 elevators including high-speed elevators with a rated speed of 180 or 150 m/min, 12 escalators and a destination floor reservation system that efficiently allocates elevator cars. The elevators have an earthquake emergency operation system that detects an earthquake and stops the elevator quickly on the closest floor so that passengers can get out without being stuck in it. These features provide users with safety, security, and comfort.

Masaya Sakakibara, Managing Director, Hitachi Lift India said "We are honored to be involved in this prestigious project for the Noida district. Our aim is to contribute to the safe, secure and comfortable transportation for all users and development of the city by offering our high-quality products and services. We will continue to commit to the improvement of India's society and the well-being of its people."

Bharat Kaushal, Corporate Officer, Hitachi, Ltd. and Managing Director, Hitachi India said "Hitachi India Pvt. Ltd. (hereafter Hitachi India)'s burgeoning partnership with India for over nine decades is growing at an unprecedented pace. As India accelerates its voyage to become one of the leading economies in the world by not only empowering its citizens, but also by building a world class infrastructure to enhance quality of life for billions. Hitachi Lift India is an integral partner of India's transformational journey and CRC Group has been instrumental in further strengthening the resilient infrastructural landscape of the nation. We are overwhelmed to collaborate with CRC Group that marks a significant milestone in our commitment to further enhancing the urban infrastructure in India. This collaboration not only represents a strategic alignment between two leading organizations but also underscores our shared vision of innovation and excellence in ensuring India takes a giant leap forward for setting unparalleled architectural benchmarks, building a sustainable society. With our exemplary yet varied bouquet of solutions including urban mobility, energy, IT, payments, e-Education and e-Healthcare, Hitachi India is chartering an ambitious and progressive vision for building an ecosystem that further supports the mission of offering best in class technology for India and for the World."

By undertaking this project, Hitachi Lift India aims to enhance its presence in the premium market and commit to the further business growth in India.

Outline of CRC The Flagship

CRC The Flagship is a 223,000 square-meter business hub mainly consisting of 4 towers and a retail building. It offers office spaces, retail shops, and premium services apartments with various facilities such as a co-working space, an auditorium, and even a putting golf course.

The project also has the greenery with more than 20% of its whole area, achieving climate-friendly infrastructure with pre-certified platinum rating by Indian Green Building Council.

Closely located to the Noida–Greater Noida Expressway, it takes approximately 35 minutes from Noida International Airport, being constructed at present and to be the one of the biggest international airports in India as an alternative to Indira Gandhi International Airport.

Outline of CRC Group

CRC Group is a highly respected developer in the NCR region of India known for its premium projects. The Group is dedicated to enhancing the standards in the real estate industry by introducing the finest buildings, which have been and will continue to be full of perfection and excellence.

Hitachi's Elevators and Escalators Business in India

India's new installation market for elevators and escalators exceeds 67,000 units in fiscal year 2023, making it the world's second-largest market that is expected to grow 6-7% per year.

Hitachi established Hitachi Lift India in January 2008 and began full-scale operations in the elevator and escalator market. Since then, it has secured many orders and has been engaged in installing and maintaining its products, including high-speed elevators for luxury residences, hotels, and offices. Hitachi Lift India currently operates in all major cities in India, such as Delhi NCR, Mumbai, Bengaluru, Chennai, Pune, Hyderabad, and Ahmedabad.

Outline of Elevators Specifications Ordered

Outline of Escalators Specifications Ordered

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About Hitachi, Ltd.

Hitachi drives Social Innovation Business, creating a sustainable society through the use of data and technology. We solve customers' and society's challenges with Lumada solutions leveraging IT, OT (Operational Technology) and products. Hitachi operates under the 3 business sectors of "Digital Systems & Services" – supporting our customers' digital transformation; "Green Energy & Mobility" – contributing to a decarbonized society through energy and railway systems, and "Connective Industries" – connecting products through digital technology to provide solutions in various industries. Driven by Digital, Green, and Innovation, we aim for growth through co-creation with our customers. The company's revenues as 3 sectors for fiscal year 2023 (ended March 31, 2024) totaled 8,564.3 billion yen, with 573 consolidated subsidiaries and approximately 270,000 employees worldwide. For more information on Hitachi, please visit the company's website at https://www.hitachi.com.