FIL Industries is set to expand its ropeway infrastructure business and plans to raise Rs 200 crore through equity to fuel this growth, according to Executive Director Syed Junaid Altaf.
The company, which has already invested about Rs 750 crore in three ropeway projects—Skyview by Empyrean at Patnitop, Dehradun-Mussoorie, and Yamunotri-Kharsali, aims to add four to five new projects in the coming years. To streamline funding, FIL Industries plans to consolidate all current and future projects into a single Special Purpose Vehicle (SPV), where the company will maintain ownership.
"We are looking to raise at least Rs 200 crore on equity so that it sees us through at least another three projects," Altaf stated. The company is exploring capital raising through infrastructure funds, private equity, or strategic partnerships.
By 2030-31, FIL expects to transport between 3.5 million and 4.5 million passengers annually across these ropeways. While the Patnitop project is already operational, the Dehradun-Mussoorie project is expected to launch in 2026, followed by Yamunotri-Kharsali in 2028. The total size of FIL's future ropeway projects is estimated at Rs 1,000–1,200 crore.