Sanghvi Movers Poised for Significant Growth in Heavy Lifting Sector
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Sanghvi Movers Poised for Significant Growth in Heavy Lifting Sector
- Sanghvi Movers Limited (SML), India's largest crane rental company, reported a consolidated net profit of ₹65 crore in Q1 FY27, marking a nearly 30% year-over-year increase.
- The company, ranked as the world's third-largest heavy-lift crane rental and engineering services provider by the International Cranes IC Index 2026, is led by Managing Director Rishi Sanghvi.
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Sanghvi Movers Limited (SML), headquartered in Pune, India, is positioned for a new growth cycle, driven by its dominant position in the Indian and Asian crane rental markets and expanding international operations. The company is recognized as the largest crane rental company in India and Asia, and the third-largest globally, according to the IC Index 2026. SML, incorporated in 1989, specializes in providing heavy-duty crane rental solutions and turnkey Engineering, Procurement, and Construction (EPC) services, with a significant focus on the wind energy sector, which contributes approximately 42-45% of its revenue.
The company’s fleet comprises over 370 cranes, with lifting capacities ranging from 40 MT to 1,600 MT, and maintains 15 regional depots across 12 Indian states, along with a depot in Saudi Arabia. For the first quarter of fiscal year 2027, ending June 30, 2026, Sanghvi Movers announced a consolidated net profit of ₹65 crore, representing a 29.34% increase year-over-year from ₹50.26 crore in Q1 FY26. Consolidated revenue for Q1 FY27 also saw a substantial rise of 38.9% year-over-year, reaching ₹380 crore.
SML’s growth is further supported by an order book of ₹1,053 crore as of May 2026, which is fully executable in the current financial year, and an inquiry pipeline of nearly ₹4,000 crore. The company has a capital expenditure plan of ₹390 crore in India and ₹200 crore in Saudi Arabia for FY27. International expansion is a key focus, with operations in Saudi Arabia achieving positive cumulative EBITDA in early FY27, and a presence in Botswana and Qatar. Rishi Sanghvi, the Managing Director since 2019, has been recognized among India’s Youngest Business Titans in the 2026 Barclays Hurun India report.