Real Estate


Vikram Murthy, National President Indian Society of Heating, Refrigerating and Air Conditioning Engineers (ISHRAE)

“The Design and Build approach offers specialty contractors opportunities to get works. Also related to the HVAC industry are other services, such as mechanical, plumbing and electrical works, which are combined with HVAC by one contractor. These are called MEP services, which includes air-conditioning.

While the opportunity is certainly growing, it requires strong contractors who are equipped both technically and financially to deliver it. The result is that many smaller contractors are now going out of business, because the buyer or builder prefers to deal with one organisation for engineering services. We see this opportunity growing, and the companies who are delivering it are getting stronger, better and bigger.

The real-estate market in India with relation to the HVAC industry is now particularly focused on development in the residential sector and Class-III and Class-IV cities. But the residential market in all classes of cities is good; in Class-I and Class-II cities especially, there is a good market for residential homes fully equipped with all the required services provided by the developer, which include air-conditioning. We see this part of the industry growing in demand for HVAC.

HVAC trends will be in different forms of cooling, among them evaporative and radiant cooling. Radiant cooling is where the roof or walls get cold and your body heat is lost to them. These trends will be new ones, but we don’t know how quickly they will be adopted.”

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