US building consultancy major eyes Indian market

US-based construction consultancy major, Viridian Energy & Environmental LLC USA, specialising in green building and energy effecient buildings, sees huge opportunity in the Indian market, except for a few bottlenecks like currency fluctuations and market volatility.

Speaking on the sidelines of an interactive meeting on energy effecient buildings organised by Bengal National Chamber of Commerce and Industry, Devashish Lahiri, partner in Viridian Energy & Environmental said,"As a company we are not into any direct collaboration with any real estate majors in India. But there are lots of prospective developers and we see huge opportunities here."

The company had decided to set up an office in Mumbai last year but had to shelve its plans because of recession and market conditions.

"Because of currency fluctuations, fees is very less in India. We are thus not much present in India directly, but we see huge opportunity going forth," said Lahiri.

The company as part of a consortium had placed bids in infrastructure projects last year in Malegaon, Pune, Chennai, Hyderabad.

"There is huge opportunity in modern airports and high-end hotels which are coming up in the country. But there is slight slump in demand given the recession.

Developers would not like to take a 10 per cent incremental cost on development," he added.

Energy effecient buildings in the US save upto 25 per cent of total energy costs which can be leveraged through marketing, he said.

Lahiri pointed out that while almost 10-15 per cent buildings in the United States were energy effecient and built on green building concept, the same concept was still at a very nascent stage in India.

One obvious reason was the lack of mandatory structure. There is a lack of energy management or energy engineering courses in Indian universities, except for a few.

"Energy engineering or energy management courses are not so prevalent in India as it is in the US. The courses are not attuned to industry requirements," said Lahiri.

The company has signed a memorandum of understanding with Indian Institute of Social Welfare and Business Management for offering technical guidance and internship facilities.