Pai Machines, a subsidiary of Infra Bazaar Tech Pvt Ltd, has finalized the acquisition of the manufacturing facilities of L&T Construction Equipment Limited’s (LTCEL) Machinery Works. The transaction, initiated in June 2024, involves a production plant in Bengaluru with a capacity of over 1,800 units annually. The acquisition also includes the integration of 70 employees, with 40 specializing in product development and research and development (R&D).
The acquired facility will support Pai Machines’ expansion into the construction equipment sector. The plant produces machines priced between ₹25 lakh and ₹75 lakh and employs more than 300 individuals. Pai Machines plans to use this infrastructure to develop electric-powered construction and agricultural equipment, including tractors, wheel loaders, and mini excavators.
Abhijeet Pai, founder of Pai Machines, stated that the acquisition aligns with the company’s strategy to develop technologically advanced machinery for the construction and earth-moving sectors. Future plans include integrating artificial intelligence (AI) and telematics into product designs to improve efficiency and support predictive maintenance.
The acquisition comes as India’s construction equipment sector is projected to grow at 18% annually from 2024 to 2029, reaching an estimated $25 billion by 2030. Factors driving this growth include the National Infrastructure Pipeline and increased demand for urbanization-related projects.
