GMR Infrastructure
GMR Infrastructure consortium has won a second rail project — a rail line doubling project which comprises three construction packages in South Central Railway’s Secunderabad division. The project is worth Rs 389 crore; with GMR’s share of work being approximately Rs 207 crore. The scheduled timeline for the commencement of the rail-doubling project is mid-July [...] Continue Reading »
The GMR group which grabbed the bid for the Mactan Cebu international airport project in the Philippines is facing problems as a petition has been filed against them in the country’s Supreme Court to scrap the deal. Mr. Serge R Osmeña III, a Philippine politician, says that GMR group broke the bid rules that barred [...] Continue Reading »
GMR spokesperson says that GMR and its partner plan to double the passenger capacity to 14 million per year in the next three-four years. The consortium consisting of GMR and Philippines’ Megawide Construction Corp was recently awarded a 25 year contract for the development of the country’s second largest airport. The spokesperson says that the [...] Continue Reading »
GMR Energy filed draft red-herring prospectus (DRHP) with SEBI to raise about Rs 1,450 crore by tapping primary markets.GMR Infrastructure has interests in airports, power, roads and EPC businesses. Mr. Madhu Terdal, group CFO of GMR Infra, says that the company has filed the prospectus as a security step and the SEBI approvals are likely [...] Continue Reading »
The GMR Infrastructure has got the permission from its share holders to raise Rs 2,500 crore through different methods. This will be helpful to reduce the debt which is currently Rs 4,500 and also useful for another project in Chhattisgarh. The company also increased its share value from Rs 750 to Rs 1,950 to make [...] Continue Reading »
The Airports Economic Regulatory Authority (AERA) has ordered to scrap the user development fee at Rajiv Gandhi International Airport here. GMR Hyderabad International Airport is considering challenging the order as this will have a negative impact on the company’s financials, said Siddharth Kapur, CFO, GMR Infrastructure’s airport business. Kapur said on the sidelines of India [...] Continue Reading »
National Highways Authority of India (NHAI) is seeking to push a relief package for road developers as many are under stress and are finding it tough to raise debt and equity to finance projects they had bagged by offering to pay a premium. Now the agency is looking to get approval for a staggered payment which will [...] Continue Reading »
New Delhi- With the GMR group walking out of the Kishangarh- Udaipur-Ahmedabad project slated for 16 months after securing the order has invited trouble as the National Highways Authority of India (NHAI) may take legal action against GMR Group. An estimated investment of about Rs 5,387 crore was expected for the project.This project with an annual premium of 26 years and [...] Continue Reading »
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 [...] Continue Reading »
Private equity firm IIFL Realty Fund has planned to invest in redevelopment project in Mumbai. The equity firm has made an agreement to invest Rs 80 crore in a housing society-cum-slum-redevelopment project in Sion Koliwada area. Around 1.2 million sq ft of saleable area will be developed in the project. In another PE investment Sun [...] Continue Reading »
