Delhi International Airport, a subsidiary of GMR Infrastructure, will absorb all general employees of Airports Authority of India, working at Indira Gandhi International Airport, New Delhi. There are over 2,300 general employees of AAI.
Delhi International Airport Ltd move likely to impact revenue flow to government kitty.
"We have held talks with equipment as well as fuel suppliers and will firm up a plan in the next one years time," GMR Energy Executive Vice-President Avinash R Shah told reporters. GMR Energy is a unit of GMR Infrastructure Ltd. Shah said the company has hired very experienced people from state-owned Nuclear Power Corporation, including former Chairman and Managing Director M R Srinivasan, for its nuclear foray.
GMR Infrastructure has awarded the contract for managing the automated parking management system at Hyderabad Airport to Malaysia-based Tenaga Group.
ADA Group's Reliance Energy and GMR Infrastructure are the two Indian firms that have been shortlisted in the bidding process to acquire Singapore's Tuas Power, one of the three power firms put on block.
Out of the total amount, Rs 9,780 crore would be towards secondary sale of shares by GMR group and Rs 1,000 crore would be equity infusion in GAL.
UK-based Alpha Airports and Future Group's Pantaloon Retail have won a contract valued at Rs 500 crore (Rs 5 billion) to set up duty-free shops at Indira Gandhi International Airport in New Delhi.
Amid stiff global competition from major airport construction companies, a consortium led by Indian developer GMR has bagged an about Rs 11,000-crore (two-billion-euro) project to modernise Istanbul's second airport.
GMR Infrastructure, which owns more than 900 acres in Delhi and Hyderabad airports, is planning to raise Rs 3,000 crore (Rs 30 billion) through land securitisation.
DIAL, at its board meeting, decided to extend the offer of employment to all 100 per cent employees of AAI based at IGI Airport, New Delhi, instead of only 60 per cent, GMR Infrastructure informed the Bombay Stock Exchange.
GMR Infrastructure, the company which won the contract to modernise the Delhi and Hyderabad airports, is planning to come out with an IPO next week.
A private equity arm of Citibank has picked up the shares, representing 1.25 per cent stake, at Rs 270 per share, indicating the pricing of the IPO.
Currently, the investor and his family's net worth in listed firms stands at Rs 8,517 crore, compared to Rs 8,388 crore as of March 31, 2020.
Asset sales have helped ease investors' worry but debt remains at alarming levels
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
GMR Male' International Airport Private Limited (GMIAL), a subsidiary of GMR Infrastructure Limited (GMR), has claimed $803 million (around Rs 4,987 crore) from the Maldivian government for 'wrongfully' terminating the international airport contract in that country's capital.
At present, the Mactan Cebu International Airport can handle seven million passengers a year
Bhogapuram international airport, Ramayapatnam and Bandar ports, the Muktyala lift irrigation scheme and a bridge across the Krishna river are some of the projects likely to be hit.
These firms owe Rs 13 trillion to lenders and account for 55% of all non-financial corporate debt.
So far this year, there have been 76 private equity investments in India
Oil and Natural Gas Corporation, Hindalco Industries, Tata Steel and Vedanta were down up to 70 per cent below their one-year highs.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
GMR Infrastructure is part of a consortium led by Philippines-based construction company Megawide Construction which submitted a bid of 14.4 billion Philippine pesos or around $326 million.
On July 31, one of the five shortlisted companies, IRB Infrastructure, had said it would not bid for MTHL.
Anti-Corruption Commission rules out graft.
Analysts attribute this outperformance to the government's proactive economic reform measures
Samridhi Bhardwaj analyses the dynamics of duty-free liquor allowance in India.
If the government is asking a maximum price for Air India but asks to keep old personnel, it will not match.
Jaypee, Essar, GMR, GVK, Lanco, Abhijeet groups debt rise despite falling cash flow, says UBS
The QIP route was a big hit.
Power generation and distribution is the most indebted sector
Housing sector to benefit from Budget.
This move to sell a part of its land holding in one of its SEZ is part of an overall move by GMR to exit some of its assets as part of its 'asset light -- asset right' strategy.
With global markets pushing ahead, enthused by strengthening US jobs market, and also due to prospects of European rate hike, Indian markets also continued the march ahead.
Around 300 promoters serve their company boards for free.
The month also saw Adani Power acquiring the 600-Mw Korba West thermal power plant from the Gautam Thapar-led Avantha group for Rs 4,200 crore (Rs 42 billion).
Kiran Kumar Grandhi, 38, was earlier in charge of the urban infrastructure and highways business, which contributes five per cent of the Rs 10,000-crore revenue of GMR Infra.
With its new hybrid annuity model, the government is confident of getting more funds from India Inc.
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