GMR Infrastructure has reported loss in the last financial year
GMR Infrastructure has reported net loss of Rs 3.66 billion in the financial year 2011-12. According to a company spoke person the loss is due to poor performance of the power segment due to shortage of gas and delay in the process of monetization of real estate at DIAL (Delhi International Airport).
GMR Infrastructure is a leading real estate property builder in India. Their main focus areas are the construction of infrastructure development in large scale industry like power sector, airport construction.
According to the company the overall loss occurred as a combined effect of the Power segment revenue declining by 28 percent, Airport revenue related to NACIL recognized on receipt basis at DIAL and Hyderabad airport was 41 percent less than their projected estimate.
To overcome the situation the government has given an assurance of a positive solution to the issue. Looking at the delay in fuel availability for the power segment and lack of clarity on monetization of real estate parcel, the group has revised their target price on the stock from Rs 39 to Rs 30.
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Source: Equity bulls
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