GMR-run Delhi airport expects hub traffic to surge to 25 per cent in three years as the now cash-strapped Air India will expand its domestic and international network under the stewardship of Tatas, according to a senior official.
The Indira Gandhi International Airport, operated by DIAL, is the country's largest aerodrome and is already the hub for Air India, Vistara and IndiGo.
The GMR group which is operating Rajiv Gandhi International Airport (RGIA) here will be investing over Rs 500 crore in a Rs 5000 crore metro rail link project being proposed by the Telangana government for connectivity to the aerodrome from various parts of the city.
According to a consultation paper on the tariff revision for the third control period (April 2021 to March 2026) proposed by GMR Hyderabad International Airport Ltd, issued by Airports Economic Regulatory Authority the aerodrome operator will be investing Rs 519.52 by 2024.
GMR Infra, Adani, and Reliance Infra are among the 19 companies that have bid for developing the Rs 16,000-crore Noida international airport in Jewar, Uttar Pradesh.
The state government aims to complete technical and financial bidding by February-March 2020, said Shrikant Sharma, minister and state government spokesperson, in Lucknow on Tuesday after a cabinet meeting.
GMR Infrastructure’s (GMR’s) Q1FY20 adjusted loss of Rs 3.4 bn came in line with our estimate. Delhi Airport’s (DIAL) traffic continued to moderate due to the Jet Airways issue; Hyderabad Airport’s (HIAL) traffic grew 8% y-o-y. In the power segment, PLF improved y-o-y in Warora, but fell in Kamalanga due to major maintenance undertaken during the quarter.
Adani Power on Thursday announced that it had acquired GMR Chhattisgarh Energy’s 1,370-MW plant for an enterprise value of `4,792 crore after the consortium of lenders, led by Axis Bank, approved the stake sale. This will be the third project to be resolved outside the insolvency route after Prayagraj Project of Jaiprakash Associates and SKS Power’s Binjkote project.
GMR Infrastructure suffered Rs 2341.25 crore loss on consolidated basis during the quarter ended March 31, owing to impairment losses of some of the power assets, the infra major said in a filing with bourses Thursday. The company reported Rs 4.81 crore profit after tax during the same quarter in FY18. Consolidated total income stood at Rs 2293.63 crore during the quarter under discussion against Rs 2234.88 crore in the same quarter in FY18, it said.
GMR Group is setting up a business park in Hyderabad to be developed by GMR Hyderabad Aerotropolis, a subsidiary of GMR Hyderabad International Airport. The area covered by the business park is one million square foot where six business complexes would be developed. The project will be financed through debt and internal accruals of Rs 350 crore. It will be developed in two phases. The first phase comprises four towers, of which one is ready for occupancy.
GMR Group’s debt-laden 768 MW gas-based Rajahmundry power plant in Andhra Pradesh has achieved a resolution plan with the IDBI Bank-led consortium of lenders for payment of `2,353 crore debt.
Lenders holding majority 55% stake in Rajahmundry Energy, a subsidiary of GMR Infrastructure, have agreed to a payment plan where `1,130 crore will be paid at 9% rate of interest over the next 20 years, while `941 crore has been converted into cumulative reedemable preference shares at 0.1% repayable from 17th to 20th year.
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