Incidentally, airports business is the lone segment steadily churning profits unlike the group’s other loss-making sibling entities.
The company claimed that its shareholders have lost substantial amount of money in the energy space.
It has been alleged that the airport company floated almost a dozen joint venture firms to lower its share of revenue to government-owned AAI.
The proposed bond's Ba2 senior secured rating reflects the airport's strong market position and robust passenger traffic.
GMR Infrastructure Ltd (GIL) Friday said its lenders approved a resolution plan for its stressed gas-based power plant in Andhra Pradesh.
We are delighted on the successful pricing of this transaction, said Grandhi Kiran Kumar, the Corporate Chairman of GMR Group.
The proposed investment in GMR Airports comprises Rs 1,000 crore capital infusion in the airports business and Rs 7,000 crore for equity stake acquired from GMR’s parent company and its subsidiaries.
The concession agreement includes design, construction, financing, operation and maintenance, as well as exploration of the new Heraklion international airport.
The group’s executives also spoke on how this would help Hyderabad Airport City - ‘business and leisure destination’ - that is being developed by it near the airport.
Total income during Q3 stood at Rs 2,120 crore, down from Rs 2,276 crore the same period a year ago.
The Hyderabad international airport that started with 6.2 million passengers in 2009, is expected to handle over 18 million passengers by the year end.
Other facilities include battery-operated vehicles for going about the site, audio guides, solid-waste management, electrical fittings and also an interpretation centre.