Home / Business/ HTL Aircon to expand to Sri Lanka

HTL Aircon to expand to Sri Lanka


Comments / {{hitsCtrl.values.hits}} Views / Monday, 11 June 2018 00:00


The Hindu: HTL Aircon Private Ltd, a leading heating, ventilation and air conditioning (HVAC) contractor, has announced overseas expansion plans.

The company has identified Dubai, Africa and Sri Lanka as potential overseas growth markets, according to a top executive.

“In this financial year, we will have operations in Dubai which is the gateway market for entering Africa,” said HTL Aircon Managing Director Lavinder Singh Duggal. 

“So, this year we will be in Dubai and a few African countries.”

He said the company would grow with its existing clients who are also expanding in these markets.

 “The HVAC market in Africa is unorganised and lacks high-quality players. We will fill that gap. On the other hand, the Dubai market is mature and needs reliable and quality-conscious players like us.

 “This year, we expect to clock  10 crore revenue from overseas operations,” said Mr. Duggal. Revenue from overseas businesses is projected to grow to 40 crore in 2019-20, he added.He said the company would foray into Sri Lanka in financial year 2019-20 and is mulling entry in Thailand. Plans for a presence Bhutan have been put on hold for now.

“Most of our customers are expanding or having operations in Sri Lanka. We will serve that market from Chennai where we will be strengthening our base this year,” said Duggal.

In the domestic market, the company would be entering Chennai and Ahmedabad this year. It had already established its presence in Mumbai, Pune, Delhi, Hyderabad, Bengaluru and Goa. 

“A large part of our growth is aided by our existing customers and project management consultants as well as architects who are awarding us contract in new projects. We will grow with them in overseas markets as well,” he said.

He said the company crossed the  100-crore turnover mark in 2017-18 and is now targeting revenue of  150 crore this year, including  10 crore from the overseas markets.

Some of its top customers include UBS, Morgan Stanley, HSBC, Synechron and Bank of America. It also works with project management consultants like JLL, Knight Frank, CBRE and C&W.


Share This Article


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Identifying traitors: I cannot wait until Dr. Padeniya presents his point scheme

Tuesday, 21 August 2018

Cause for excitement I am excited! A way of identifying and measuring a traitor is soon to be unveiled; by no less than the President of the GMOA! Hasn’t he also qualified in some department of neurology? All the more reason to justify my excitemen


The evils of translocating wild elephants

Tuesday, 21 August 2018

The subject of translocating wild elephants has been a much-debated topic recently, after the Department of Wildlife Conservation (DWLC), acting on the orders of the Minster for Wildlife, wanted to move the only two wild elephants habituating the Sin


Climate scientists cheating us to a $ 12 b/year economic loss in 2050

Monday, 20 August 2018

Local news media carried the disturbing pronouncement by World Bank economists to the effect that Sri Lanka will become an extremely hot territory with 30C temperature rise and $ 12 billion per year economic loss by 2050.


Singapore miracle – How SL could benefit from trade with Singapore

Monday, 20 August 2018

According to a media report released by President’s Media Division, a committee of experts has been appointed by the President to examine and report on ‘the practical impact and use of the proposed officer policy guidelines and recommendations on


Columnists More