Pai Machines Completes Asset Acquisition of L&T's Machinery Division
Pai Machines, a newly established brand of Infra Bazaar Tech Pvt Ltd (IBTPL) that deals in advanced machinery manufacturing, has completed the asset purchase of the machinery works manufacturing facilities of L&T Construction Equipment Limited division (LTCEL). As part of the transaction, a 70-member manufacturing team, including a 40-member product development/R&D team, have transitioned to Pai Machines. This transition was set in motion in June 2024 and since then Pai Machines has worked to integrate the manufacturing facilities and the team with its long-term strategy. This marks a significant expansion of Pai Machines into India's construction equipment segment.
Pai Machines acquired the plant with a capacity to produce more than 1,800 units, featuring machines ranging in cost from 25 lakhs to 75 lakhs, and providing employment to over 300 people. By embracing the ‘Make in India’ for the World initiative, Pai Machines will leverage its newly purchased state-of-the-art resources and highly skilled workforce to develop next-gen electric machines for earth-moving and construction sectors. The growth plan includes diversifying into new markets, with construction facilities like batching plants and agri-equipment such as 5T wheel loaders, and 3.5T mini excavators.
Speaking about the asset purchase, Abhijeet Pai, Founder of Pai Machines, said, “Our vision for Pai Machines is to lead the way in in-house development of cutting-edge products, establishing a robust foundation for delivering exceptional service to our customers. This asset purchase represents a significant step forward in that direction. We aspire to be recognised as a company driven by innovation, quality, and sustainability, integrating advanced technologies such as telematics and artificial intelligence (AI) into our product development process. This strategic move will empower us to transform the construction equipment landscape in India, ensuring our offerings evolve in line with the growing needs of our customers and the planet.”
India's construction equipment industry is set for rapid growth, driven by the National Infrastructure Pipeline (INR 111.3 trillion) and urbanization, with demand for excavators, loaders, and smart city projects surging. Projected to grow 18% (2024–2029) and reach $25 billion by 2030, the sector is fuelled by NHAI's 50 km/day road targets and 6-7% mining CAGR. Indian companies currently account for only 2% of the ECE market share, presenting a significant growth opportunity. Pai Machines, through its asset purchase of the manufacturing facilities of L&T Construction Equipment Limited, is poised to bridge the gap with sustainable, future-ready solutions for a growing market.
LTCEL has been a cornerstone of construction and mining equipment manufacturing since 1973. By this asset purchase, Pai Machines inherits a rich legacy and will continue to provide seamless support and service to LTCEL’s existing customers, maintaining the trust and reliability the brand has upheld over the years. Further to the asset purchase, the roadmap includes introducing electric tractors and 5-ton loaders, emphasising environmental responsibility and sustainability. To enhance operations, the company will implement AI and Machine Learning technologies for predictive maintenance, minimising equipment downtime and maximising efficiency. In its Bengaluru based facility, they currently manufacture top-of-the-line machinery to meet the demands of modern construction, road-building and agricultural operations.
Abhijeet Pai founded Pai Machines, having been the president of Puzzolana Machinery where he recognised the potential to go deeper in the construction equipment sector. Since then, under his visionary leadership, the company has driven innovation through digital technologies for scalable and efficient processes for the infrastructure industry and its stakeholders.
