By Abhay Ray 
Introduction
Diversified enterprise FIL Industries Pvt Ltd is looking to add four to five projects to its ropeway business and plans to raise ₹200 crore on equity to expand the vertical, according to its Executive Director Syed Junaid Altaf. The company, which has invested about ₹750 crore on three ropeway projects — Skyview by Empyrean at Patnitop, Dehradun – Mussoorie and Yamunotri-Kharsali — plans to bundle all of its current and future projects in a single SPV where the company holds ownership, and raise capital through infra fund, PE or a strategic partner route, Altaf told PTI in an interview.
About FIL Industries Pvt Ltd
FIL Industries Pvt Ltd is a diversified Indian company operating across agriculture, food processing, FMCG, post-harvest solutions, and sustainable mobility. Known for its leadership in apple juice concentrate production and crop protection, FIL also pioneers controlled atmosphere storage and high-tech fruit nurseries. In recent years, the company has expanded into tourism infrastructure, developing eco-friendly ropeway systems under PPP models, including the acclaimed Skyview Patnitop. FIL’s approach blends innovation, sustainability, and inclusive growth, with a focus on enhancing rural economies, supporting farmers, and reducing environmental impact. Through global collaborations and advanced R&D, FIL continues to shape India’s agritech and green mobility landscape.
Current Portfolio and Investment Model
FIL Industries has invested approximately ₹750 crore across three ropeway projects: Skyview by Empyrean at Patnitop (operational), Dehradun–Mussoorie (under development), and Yamunotri–Kharsali (in planning). To streamline operations and raise funds efficiently, all ropeway ventures are being consolidated under a single special purpose vehicle (SPV), wholly owned by FIL. This SPV will act as the platform for raising capital through infrastructure funds, private equity, or strategic partnerships, supporting both existing and future projects.
Projected Growth and Operational Timeline
When all the first three projects are operational, he said the company is looking at “carrying anywhere between 3.5 million to 4.5 million passenger by 2030-31”. While the Patnitop project is already operational, Dehradun-Mussoorie is expected to start by 2026 and Yamunotri-Kharsali in 2028.
“We are now looking at four to five active projects and we are now also looking to raise capital. We are looking to bundle all of them in a single SPV where we hold ownership, and then that SPV holds ownership in the projects,” he said when asked about the company’s plans for the ropeway business. On the amount of capital the company is looking to raise, he said, “We are looking to raise at least₹200 crore on equity so that it sees us through at least another three projects.”
Long‑Term Market Opportunity and Financial Outlook
FIL Industries sees a pipeline worth ₹1,000–₹1,200 crore in upcoming ropeway projects across India. In FY25, the company recorded revenue of around ₹430 crore, with ropeways contributing about 5%. By FY 2030, it expects ropeways to contribute 20–25% of total revenue, driven by the completion of three current and two additional projects. This reflects FIL’s strategy to position ropeways as a major revenue stream and capitalize on growing demand for eco-friendly, high-volume transport in hilly and tourist regions.
Being “specialists in pure PPP (public private partnership)” with revenue sharing with the government, he said in future too FIL would look for such projects which is of similar nature “where as much as the revenue share is with the government, pricing on the ropeway has to be determined by us” and the company is allowed to build tourism infrastructure, such as food and beverages and entertainment area, around the ropeway.
Conclusion
FIL Industries Pvt Ltd is strategically positioning itself as a leading player in India’s eco-friendly ropeway transport sector, leveraging its expertise in PPP models and tourism infrastructure. With an existing investment of ₹750 crore across three ropeway projects and plans to raise ₹200 crore in equity, the company aims to expand its portfolio with four to five additional projects. By consolidating its ropeway assets under a single SPV and targeting strategic partnerships or infrastructure funds, FIL is streamlining its operations and financing. With a projected ₹1,000–₹1,200 crore pipeline and a vision for ropeways to contribute up to 25% of revenue by FY2030, FIL is aligning its sustainable mobility ambitions with India’s growing demand for high-capacity, green transport solutions in hilly and tourist regions.
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