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<keyword id="244668" type="COMPANY" weightage="20" keywordseo="GMR-Hyderabad-International-Airport-Ltd">GMR Hyderabad International Airport Ltd</keyword> (GHIAL) has bagged <keyword id="113134" type="COMPANY" weightage="20" keywordseo="Airports-Council-International">Airports Council International</keyword> (ACI) Airport Service Quality (ASQ) award for 2020. Hyderabad Airport has been adjudged as the '<keyword id="152747" type="PERSON" weightage="20" keywordseo="Best-Airport">Best Airport</keyword> by Size and <keyword id="6401650" type="UNKNOWN" weightage="20" keywordseo="region">Region</keyword>' in Asia-Pacific region for 2020, in its category of 15-25 Million Passengers Per Annum (MPPA). ASQ is the <keyword id="6354507" type="UNKNOWN" weightage="20" keywordseo="World">world</keyword>'s leading airport passenger service and benchmarking programme measuring passengers' satisfaction while they are travelling through an airport, GHIAL said in a statement on Monday. "This achievement is a testament to the untiring efforts of our stakeholders including DGCA, CISF, BCAS, AAI, Immigration, Customs, Airlines; our employees and all business partners/vendors, who have worked unnerved during the testing times of the Covid pandemic," said Pradeep Panicker, CEO - GHIAL. "In terms of passenger experience, Covid-19 has taught us many lessons. We adopted the best in-house technology to make flying more safe and provide a superior customer experience and the ACI ASQ Award is a testimony to our efforts. This award is a collaborative effort of engagement by all stakeholders who exhibited unflinching courage in the face of the pandemic," said SGK Kishore, ED-South and Chief Innovation Officer, GMR Airports. Luis Felipe de Oliveira, Director General, ACI World, noted in his message to GHIAL congratulated for winning the award. As India's first modern, Greenfield airport developed under the PPP model, Hyderabad Airport has consistently raised the bar in terms of service and operational excellence. The airport has consistently ranked in ACI-ASQ survey as among the global top 3 airports for 9 consecutive years (2009 to 2017) including world number one position for 4 times in 2009, 2010, 2016 and 2017 in 5 - 15 MPPA category; it ranked world number 4 in 2018 in 15 - 25 MPPA category. GHIAL has won the coveted ACI's ASQ Departures Awards by being adjudged as the 'Best Airport by Size and Region' and its first ever 'Best Airport in Environment &amp; Ambience by Size', both in Asia-Pacific region for 2019, in its category of 15-25 MPPA. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/checkout-february-auto-sales-from-maruti-suzuki-bajaj-auto-hero-motocorp-tvs-ashok-leyland-mahindra-and-others/articleshow/81270921.cms?upcache=2">Tata Motors reports highest passenger vehicle sales in 9 years — Maruti, Ashok Leyland, outperform street expectations</a> <a href="https://www.businessinsider.in/science/space/news/europe-space-agency-hiring-astronauts-it-is-looking-for-women-and-people-with-physical-disabilities/articleshow/81271858.cms">Europe’s space agency is recruiting astronauts after over a decade — and its looking for women and people with physical disabilities</a> <a href="https://www.businessinsider.in/india/news/indians-are-heading-back-to-parks-supermarkets-and-pharmacies-but-malls-and-theatres-are-not-on-the-priority-list/articleshow/81271614.cms">Indians are heading back to parks, supermarkets and pharmacies — but malls and theatres are not on the priority list</a>

Hyderabad airport bags award for best airport by 'size and region' for 2020

<ul><li>The deal will result in the separation of GMR’s airports business from its other divisions. </li><li>Tata Group will get a 20% stake in the airports business. </li><li>An affiliate of Singapore <keyword id="169741" type="ORGANIZATION" weightage="20" keywordseo="sovereign-wealth-fund">sovereign wealth fund</keyword> GIC and a special situations and turnaround-focused investment firm, SSG Capital Management, will each own a 15% and 10% stake, respectively. </li><li>The deal will help GMR “substantially” pay down its debt and strengthen its balance sheet. </li></ul>India’s <keyword id="201409" type="DOMAIN" weightage="20" keywordseo="GMR-Infrastructure-Ltd">GMR Infrastructure Ltd</keyword>. (GIL), which operates the <keyword id="89772" type="LOCATION" weightage="20" keywordseo="Indira-Gandhi-International-Airport">Indira Gandhi International Airport</keyword>, has brought on the Tata Group as an investor in its airports business, in a restructuring deal valued at about ₹224.75 billion ($3.2 billion). Tata, along with an affiliate of Singapore sovereign wealth fund GIC, and SSG Capital Management, a special situations and turnaround investment firm, have agreed to together invest ₹80 billion ($1.15 billion) in GMR Airports Ltd, according to a company statement. GMR shares jumped almost 10% following the news of the deal. According to the terms of the deal, Tata will get a 20% stake in the airports business, while GIC and SSG will each own a 15% and 10% stake, respectively. Its existing private equity investors who hold 5.8% stake in the company will cash out as part of the deal. The deal will result in the separation of GMR’s airports business and “demerger” of its energy, highways, urban Infrastructure &amp; transportation businesses. The demerger and the resulting spin out will pave the way for a “restructuring” of the business, helping GMR pay down debt, and have other “multiple strategic benefits.” The ₹22.5 billion-deal, subject to regulatory approvals, also includes earn-outs of up to ₹4.5 billion over the next five years that will be payable by the investors based on certain performance-related milestones. GIL plans to retain management control over the Airports Business, while the investors will have board seats. As part of the transaction, the investors plan to pump in fresh equity of ₹10 billion into the airports business and spend ₹70 billion towards buying out shares from existing investors, according to the statement. “The proposed investment endorses the strength of the unparalleled Airport platform created by <keyword id="46306" type="COMPANY" weightage="20" keywordseo="GMR-Group">GMR Group</keyword> and will reduce our debt substantially, strengthening our balance sheet,” Grandhi Kiran Kumar, Managing Director &amp; CEO, GIL, said in the statement. The deal and the “large pool of capital” will help grow the GMR Airport infrastructure business, Kumar added. GMR’s airports portfolio includes the Indira Gandhi International Airport in New Delhi, Hyderabad’s <keyword id="114800" type="LOCATION" weightage="20" keywordseo="Rajiv-Gandhi-International-airport">Rajiv Gandhi International Airport</keyword>, and the Mactan Cebu International Airport in partnership with Megawide in Philippines.

Tata Group enters airports business with a $3.2 billion restructuring deal with GMR

Yesterday, we told you how <keyword id="14678" type="PERSON" weightage="100" keywordseo="Vijay-Mallya">Vijay Mallya</keyword> has been slammed with a <a href="http://www.businessinsider.in/Another-woe-for-Mallya-Hyderabad-court-issues-non-bailable-warrant/articleshow/51392100.cms">non-bailable warrant</a> in connection with a lawsuit by GMR Hyderabad International Airport Ltd. 
 
Now, the local court has slammed the former liquor baron with four more non-bailable warrants (NBWs) after he failed to appear in a court for bounced cheques worth Rs 2 crore to GMR Hyderabad International Airport Ltd. 
 
Also read: <a href="http://www.businessinsider.in/Vijay-Mallyas-personal-Airbus-jet-to-be-auctioned-to-recover-governments-dues/articleshow/51406790.cms">Vijay Mallya's personal Airbus jet to be auctioned to recover government’s dues</a> 
 
The warrants were issued by 11th Special Magistrate at Erramanjil Courts complex yesterday, and have to be executed by March 29. 
 
GMR counsel G Ashok Reddy had earlier said that a total of 11 cases involving Rs eight crore payment to GMR are pending. 
 
Also read: <a href="http://www.businessinsider.in/Vijay-Mallyas-journey-from-a-businessman-to-a-fraudster/articleshow/51328653.cms">Vijay Mallya’s journey from a businessman to a fraudster</a> 
 
<a href="http://blogs-images.forbes.com/kenrapoza/files/2014/06/vijay-not-happy.jpg">Image source</a>

Four more NBWs against Mallya in Hyderabad court

India’s liquor baron <keyword id="14678" type="PERSON" weightage="100" keywordseo="Vijay-Mallya">Vijay Mallya</keyword>, who has <a href="http://www.businessinsider.in/Vijay-Mallyas-journey-from-a-businessman-to-a-fraudster/articleshow/51328653.cms">fled the country</a> after being a defaulter of several <a href="http://www.businessinsider.in/SBI-wants-Vijay-Mallya-arrested/articleshow/51240258.cms">state-run banks</a>, has been slammed with a non-bailable warrant (NBW) by the Hyderabad court. The warrant was issued after Mallya <a href="http://www.businessinsider.in/Vijay-Mallya-has-7-days-to-return-to-India-and-appear-before-the-ED/articleshow/51360074.cms">failed to appear in the court</a> in connection with alleged dishonour of a cheque of Rs 50 lakh to GMR Hyderabad International Airport Ltd. 
 
Mallya’s counsel has said that he will move the high court seeking quashing of the non-bailable warrant (NBW). 
 
"He (Mallya) and others were supposed to appear before the court on March 10. They did not appear ... Hence, court issued NBW order which has to be executed by April 13," said GMR counsel G Ashok Reddy. He added that there are a total of 11 cases involving Rs 8 crore payment to GMR and the NBWs were issued in connection with a Rs 50 lakh bounced cheque. 
 
Mallya’s advocate H Sudhakar Rao said, "NBWs have been issued in this case. There are other cases going on wherein we have got orders from high court dispensing with his (Mallya's) attendence." 
 
"I will be filing an application in the high court for quashing this order of issuing warrants," Rao told PTI. 
 
When contacted by ET, GMR refused to comment on the issue claiming the matter to be sub judice. 
 
<a href="http://img.newsheads.in/images4web/2016/03/08/31939273-Kingfisher-Vijay-Mallya-Debt_0.jpg">Image source</a>

Another woe for Mallya, Hyderabad court issues non-bailable warrant

<ul><li>Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> announced measures that will benefit both airline operators like IndiGo and SpiceJet, as well as developers like GMR, GVK, and Adani Group.</li><li>India opened up more of its airspace for airlines to ply, decided to put up more airport development projects for bidding. </li><li>Another major investment was Sitharaman’s bid to make India an MRO hub – Maintenance, Repair and Overhaul.</li></ul>India opened up more of its airspace for airlines to ply, decided to put up more airport development projects for bidding, and ease taxation as well as restrictions on maintenance and repair to bring down costs for aviation firms. These reforms announced by Finance Minister Nirmala Sitharaman will benefit both airline operators like IndiGo and SpiceJet, as well as developers like GMR, GVK, and Adani Group. <div type="image" title="indigo." msid="75775924" hostid="261"></div> <div type="image" title="spicejet." msid="75775928" hostid="261"></div> The government estimates airlines will save about ₹1,000 crore a year by flying shorter routes. “60% of the Indian airspace is freely available, because it is fairly restricted for civil and defence purposes, so we have been taking longer routes. This has to be rationalised for optimum utilization of time and fuel. Customers can get to their destinations quicker and cheaper,” Sitharaman said. More airport projects up for grabs The second step taken was that six more airports will be put up for auction by the Airports Authority of India and will be built on public private spaces. “Additional investments will be made by private players in 12 airports where investments are already present. The financial implications will be on the AAI. The first and second round of investments to get ₹13,000 crore,” said Sitharaman. India currently has several airport projects under construction – the Jewar international airport in Greater Noida, the Mopa Airport in Goa, Navi Mumbai international airport in Maharashtra, Sabarimala airport in Kerala among others. In April 2020, GMR got the go-ahead for the Bhogapuram airport in Andhra Pradesh. In February 2019, the Adani Group won a tender to operate all six government-owned Indian airports located in Ahmedabad, Jaipur, Mangaluru, Trivandrum (Thiruvananthapuram), Lucknow, and Guwahati. Making India an airline maintenance hub Another major investment was Sitharaman’s bid to make India an MRO hub – Maintenance, Repair and Overhaul. “Most Indian aircrafts go abroad for their repair works and spend there. But India has all the capacity – manpower and soft skills to set up an MRO hub here. India can be the centre for many of the flights for South East Asia as well as westwards,” she said. This will be a major step that we want to make sure India benefits from, she added. Not just the civil sector but defence aircrafts will also benefit from it. Through this, maintenance will also be cheaper for the aviation sector. The issue the MRO industry used to face because of the aircraft used to fly to other countries for repair. "In India we have a promising civil aviation sector, so we want the MRO sector to be located in India and much of the repair work should be done here. The problem they used to face was competitiveness was in GST. GST rate used to be 18%, so the meeting held in March the rate has been brought down to 5% with full input tax credit and that is something that will make the MRO industry very competitive," said the government. The coronavirus pandemic has left the Indian airlines sector stranded on the runway. All domestic and international flights have been suspended ever since the lockdown. “It will take 2-3 years for air travel to return to 2019 levels and a few more years to return to long-term growth trends according to Boeing,” said a Centrum Broking report last week. The <keyword id="34987" type="ORGANIZATION" weightage="20" keywordseo="aviation-industry">aviation industry</keyword> is staring at losses to the tune of ₹25,000 crore, according to a CRISIL report. “These are preliminary estimates, and aggregate losses could increase if the lockdown is extended beyond the first quarter. As and when operations resume, overall operational capacity will hover at 50-60% for the rest of the fiscal. Consequently, mergers and acquisitions of airlines, and relook at expansion plans of private and upcoming greenfield airports would be possibilities," <a href="https://www.livemint.com/news/india/covid-19-impact-indian-aviation-may-incur-rs-25-000-crore-losses-says-crisil-11588838896045.html">said Jagannarayan Padmanabhan</a>, director and practice leader, transport &amp; logistics, Crisil Infrastructure Advisory. <a href="https://www.thehindu.com/opinion/op-ed/will-the-aviation-industry-recover-from-the-pandemic/article31359708.ece">Globally</a>, the industry’s revenues could be cut by $252 billion in 2020.

Indigo and Spicejet get shorter routes, cheaper fuel bills while Adani, GMR, and GVK get more airport projects to bid for

New Delhi, Feb 10 () GMR Airports Limited announced that it has achieved the "concession commencement date" - the date from which the concession agreement comes into effect - on Monday to build and operate airport in Crete island of Greece.GMR Airports Limited along with its Greek partner GEK TERNA had signed the concession agreement in February last year for "design, construction, financing, operation, and maintenance and exploitation of the new international airport" of Heraklion city in Crete island. The Concession Period for the project is 35 years including Phase 1 Construction of five years. "The consortium intends to invest over Euro 500 million for development of the new airport," a statement from GMR Airports Limited said."The project is well-funded through support of government grant and would not require any debt. The entire project will be funded through a mix of equity, accruals from the existing airport, and financial grant being provided by the Government of Greece," it added. DSP NSD

GMR airports achieves 'concession commencement date' to build Crete airport in Greece

New Delhi, Feb 21 () Competition Commission of India has given approval for GMR group's proposed 49 per cent stake sale in its airport business to France's Groupe ADP.The regulator's clearance is through the green channel, which allows for an automatic system for speedy approval of combinations, subject to certain conditions.On Thursday, GMR Infrastructure said the French group would acquire 49 per cent stake in its airport business for Rs 10,780 crore, a deal that will help the domestic entity reduce its debt burden.In a tweet on Friday, the watchdog said it has received "green channel combination filing from Aeroports de Paris SA for acquisition of 49 per cent stake in GMR Airports Ltd and 100 per cent stake in GMR Infra Services Ltd".Applications received under the green channel are deemed approved.Aeroports de Paris SA (ADP) would buy 100 per cent stake in GMR Infra Services Ltd and then 49 per cent shareholding in GMR Airports Ltd (GAL), as per a notice submitted to the regulator.GMR Infra Services is an operating and holding company. Its primary business is to hold shares in GAL, according to the notice.Under a share purchase agreement, Groupe ADP would have 49 per cent stake in GAL for an equity consideration of Rs 10,780 crore.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, GMR Infrastructure said in a statement on Thursday."As part of the terms of transaction, GMR will retain management control over the Airports Business with Groupe ADP having the customary rights and board representation at GAL &amp; its key subsidiaries," it had said.Earlier, GMR group was to enter into a deal with Tatas for the airport business.A GMR group spokesperson confirmed that the deal with Tatas has been called off.GMR Group operates Indira Gandhi International Airport in New Delhi, Hyderabad's Rajiv Gandhi International Airport and Mactan Cebu International Airport in partnership with Megawide in Philippines.Groupe ADP develops and manages airports, including Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget.According to the notice that was submitted to the CCI regarding the deal with Groupe ADP, there are no horizontal overlaps, vertical links or complementary businesses between the acquirer and the targets in India.While the acquirer is Groupe ADP, the targets referred in the notice are GMR Infra Services Ltd and GAL."In the absence of any overlaps between the parties in India, the proposed combination does not raise any risk of adverse effect on competition in India, and is accordingly being submitted through the 'Green Channel' route...," the notice said. RAM BAL

GMR-Groupe ADP deal for airport business gets Competition Comm nod

GMR <keyword id="43661" type="ORGANIZATION" weightage="20" keywordseo="airports">Airports</keyword> Limited announced that it has achieved the "concession commencement date" - the date from which the concession <keyword id="45627" type="PERSON" weightage="20" keywordseo="agreement">agreement</keyword> comes into effect - on Monday to build and operate airport in Crete island of Greece. GMR Airports Limited along with its Greek partner <keyword id="3790330" type="COMPANY" weightage="20" keywordseo="gek-terna">GEK TERNA</keyword> had signed the concession agreement in February last year for "design, construction, financing, operation, and maintenance and exploitation of the new international airport" of Heraklion city in Crete island. The Concession Period for the project is 35 years including Phase 1 Construction of five years. "The consortium intends to invest over Euro 500 million for development of the new airport," a statement from GMR Airports Limited said. "The project is well-funded through support of government <keyword id="4739" type="PERSON" weightage="20" keywordseo="Grant">grant</keyword> and would not require any debt. The entire project will be funded through a mix of equity, accruals from the existing airport, and financial grant being provided by the <keyword id="1707145" type="LOCATION" weightage="20" keywordseo="government-of-Greece">Government of Greece</keyword>," it added. DSP

After selling Turkey airport, GMR is now all set to build airport in Crete, Greece

Hyderabad, Mar 13 ( ) Budget carrier SpiceJet on Friday announced signing of a pact with GMR Hyderabad Aviation SEZ Limited (GHASL) for setting up a warehousing, distribution and trading facility in the airport operator's aerospace and industrial park. GAHSL is a fully-owned subsidiary of GMR Hyderabad International Airport Ltd (GHIAL). The facility, to be intially spread over in 33,000 sq feet area, will come up within the Free Trade Warehousing Zone of multi-product special economic zone (SEZ), SpiceJet said in a release. It may be further expanded to 1,00,000 sq ft based on demand, it said. GMR Aerospace and Industrial Park is housed in Hyderabad Airport City. The park offers 'ready-to-use' industrial infrastructure with the flexibility of choosing land within SEZ for businesses focusing on foreign markets and land in domestic tariff area for businesses catering to the Indian market. "As we expand SpiceXpress, our cargo arm, SpiceJet is proud to partner with GHASL for this first-of-its-kind initiative by an airline in India which will enhance and facilitate cargo industry in the country," airline Chairman and Managing Director Ajay Singh said. The Free Trade Zone and the end-to-end service provided by SpiceXpress will boost businesses saving valuable time for the airline's partner companies, he said. Many companies such as CFM Aircraft Engine Support South Asia, SAFRAN Electrical and Power India, United Technologies Corporation India, Turbo Aviation, GMR Aero Technic, among others, already have their facilities in the industrial park. "We welcome SpiceJet at GMR Aerospace &amp; Industrial Park. Its presence adds great value to the niche space of Free Trade Warehousing Zone," GHASL Chief Executive Officer Aman Kapoor said on the tie-up. The pharma, aerospace and defence, electronics, automotive and FMCG client base at Telangana will benefit from the availability of warehousing catering to the export and import of goods from Hyderabad Airport, Kapoor noted. GDK IAS ANSANS

SpiceJet inks pact with GMR Hyderabad Aviation SEZ

<ul><li>At 7:45 am, the SGX Nifty was up 0.58% at 8.70 points pointing towards a positive start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Amid positive cues from the global peers, Indian stock-market indices are likely to open in green on Tuesday. At 7:45 am, the SGX Nifty was up 0.58% at 8.70 points pointing towards a higher start for Nifty50. On Wall Street, the S&amp;P 500 closed above the 3,400 thresholds for the first time, bolstered by gains in some big tech-related names. The Dow Jones Industrial Average also jumped 378.13 points to close at 28,308.46. These are the stocks to watch out for during the trading session on Tuesday: Future Retail Kishore Biyani-led Future Retail has averted a default as it repaid around $14 million (around Rs 100 crore) interest on foreign bonds to investors. The 30-day grace period for repaying the interest on ‘5.60 per cent Senior Secured Notes due 2025’ was to end on Monday. The shares of Future Retail plunged over 5% on Monday. Adani Enterprises Billionaire Gautam Adani’s Adani Group is in talks to buy out GVK and some of its partners in the Mumbai Airport as it aims to become the country’s biggest private airport operator. Adani Group is in talks to acquire a 50.5% stake held by GVK Group in Mumbai International Airport (MIAL) and another 23.5% of minority partners, Airports Company South Africa (ACSA), and Bidvest Group, two sources with knowledge of the matter told PTI. The shares of Adani Enterprises ended 7% higher on Monday. Axis Bank Axis Bank on Monday said it would acquire 17% stake in Max Life Insurance instead of the 29% proposed earlier as per a revised deal. Axis Bank currently holds about 1 per cent stake in Max Life and is the biggest banking channel partner for the distribution of the insurer’s products. Products sold through the bank reportedly account for 54% of Max Life’s revenues. The shares of Axis Bank ended 2% higher on Monday. GMR Infra GMR Infra board to consider raising of funds of up to ₹5000 crore in one or more tranches, through the issue of securities as an enabling resolution as per the requirements of applicable laws which shall be subject to the approval of shareholders. The shares of GMR Infra ended 5% higher on Monday. Wipro Wipro announced a partnership with Standard Initial Margin Model (SIMM) vendor, Quaternion Risk Management. As part of the deal, Wipro will offer SIMM-in-a-box to financial institutions covered under Uncleared Margin Rules (UMR). The shares of Wipro ended nearly a percent lower on Monday. Allcargo Logistics The promoters of Allcargo Logistics have proposed to delist the company shares as part of its efforts to pare debt, the company said in a stock-exchange filing on August 24. The shares of Allcargo Logistics ended nearly a percent higher on Monday. LIC Housing Finance Mortgage lender LIC Housing Finance reported a 34% jump in its net profit to ₹817.48 crore for the quarter ending June helped by lower provisioning. The total income of the company rose to ₹4,977.49 crore in April-June 2020 from ₹4,807.21 crore in the year-ago quarter, according to a regulatory filing. The shares of LIC Housing Finance ended nearly a percent lower on Monday. JSW Energy JSW Energy said that its Executive Director Jyoti Kumar Agarwal, who is also the Chief Financial Officer (CFO), has tendered his resignation and will step down with effect from September 15. In a regulatory filing, the company said that Agarwal has decided to pursue career opportunities outside the company. The shares of JSW Energy ended 2% lower on Monday. Indian Energy Exchange Indian Energy Exchange (IEX) on Monday said its board of directors had accepted the resignation of its Managing Director and CEO Rajiv Srivastava. The company has given Satyanarayan Goel the additional charge of Managing Director and CEO. “Board of directors of the company at its meeting held today, i.e. August 24, 2020, has approved the resignation of Rajiv Srivastava, Managing Director &amp; CEO of the company, who has tendered his resignation on August 24, 2020, from the board of the company, due to his personal reasons,” the company said in a stock-exchange filing. The shares of Indian Energy Exchange ended a percent higher on Monday. SEE ALSO:<a href="https://www.businessinsider.in/finance/banks/news/axis-bank-trims-its-investment-in-max-life-insurance-from-30-to-18/articleshow/77721249.cms" data-type="tilCustomLink"> Axis Bank trims its investment in Max Life Insurance from 30% to 18%</a> <a href="https://www.businessinsider.in/stock-market/news/airtel-stock-is-getting-knocked-down-as-investors-fear-it-may-have-to-pay-videocons-dues/articleshow/77714933.cms" data-type="tilCustomLink">Airtel stock is getting knocked down as investors fear it may have to pay Videocon's dues</a>

Top stocks to watch on Tuesday— Future Retail, Adani Enterprises, Wipro, Axis Bank, GMR Infra, LIC Housing Finance and more

Hyderabad, Feb 13 () GMR Infrastructure Ltd'sconsolidated net loss for the quarter ended December 31narrowed to Rs 279 crore against Rs 542 crore in the October-December period, last fiscal, a filing from the company withthe bourses said on Thursday.The consolidated gross revenues for the quarter underdiscussion was Rs 2196 crore.It was Rs 1958 crore in Q3FY19, it said.Revenues from the Airports segment stood at Rs 1615.2crore against Rs 1358.3 crore in the third quarter of FY19,while Power vertical garnered Rs 207.2 crore against Rs 145.7crore in Q3FY19.Traffic at Delhi Airport grew by 6 per cent YoY to 18.7million passengers in Q3FY20 and generated cash profit of Rs143 crore.Work for increasing the capacity from 66 million perannum to 100 million PAX by 2022 is progressing as perschedule, it said.Traffic at Hyderabad Airport grew by 9 per cent YoY to5.9 million in Q3FY20 from 5.5 million in Q3FY19 and generatedcash profit of Rs 241 crore in Q3FY20 vis a vis RS 231 crorein Q3FY19.Expansion work of increasing the capacity from 12 millionper annum to 34 million is progressing as per schedule, GMRsaid.GMR Group's Airport portfolio has around 172 millionpassenger capacity in operation and under development,comprising of India's busiest Indira Gandhi InternationalAirport in New Delhi, Hyderabad's Rajiv Gandhi InternationalAirport, Mactan Cebu International Airport in partnership withMegawide in Philippines. GDKROH ROH

GMR Infra's loss shrinks to 279 Cr in Q3

Mumbai, Jan 9 () GMR Hyderabad Aerotropolis, a subsidiary of GMR Hyderabad International Airport, on Thursday said it has formed a joint venture with Warburg Pincus-backed logistics developer e-Shang Redwood (ESR) to develop a logistics and industrial park at an estimated cost of Rs 550 crore. 
 The joint venture with ESR Hyderabad, a subsidiary under the Hong Kong headquartered ESR Cayman, will develop a 66-acre logistics and industrial park at the Hyderabad airport city with the project having a capital outlay of Rs 550 crore.
 ESR and GMR Hyderabad Aerotropolis Ltd (GHAL) have entered into definitive agreement with an equity interest of 70 per cent and 30 per cent, respectively, in the special purpose vehicle 'GMR Logistics Park', GMR said in a statement.
 "The JV proposes to develop a flagship airport centric logistics and industrial park providing state-of-the-art facilities for warehousing, distribution centers and non-polluting industrial such as light assembly," it said.
 The park will provide new age facilities and amenities to occupiers and help attract investments and employment in the region, it said.
 "This collaboration would set new standards for the warehousing and industrial real estate sector. It would also benefit the burgeoning cargo industry in the region," GMR Group CEO Airport Land Development Aman Kapoor said.
 Commenting on the partnership, ESR India Country Head Abhijit Malkani said, "This tie-up reiterates our strategic mission to strengthen our facilities and key positions across the country. This new facility at Hyderabad Airport is our latest investment to support national and global trade to and from Telangana."
 Being strategically located, this state-of-the-art facility showcasing smart, sustainable and human-centric design will pave the way for Indian and global companies to capitalise on the immense growth opportunities available in the Indian market, he added. 
 Last June, ESR partnered city-based realty player Lodha Group to develop an industrial park in Thane district at a cost of USD 100 million. PSK
 RVK

You Searched For "GMR GMR International Airport Vijay Mallya" and got 12 results

Hyderabad airport bags award for best airport by 'size and region' for 2020

IANS

Tata Group enters airports business with a $3.2 billion restructuring deal with GMR

Rimin Dutt

Four more NBWs against Mallya in Hyderabad court

BI India Bureau

Another woe for Mallya, Hyderabad court issues non-bailable warrant

BI India Bureau

Indigo and Spicejet get shorter routes, cheaper fuel bills while Adani, GMR, and GVK get more airport projects to bid for

Sanchita Dash

GMR airports achieves 'concession commencement date' to build Crete airport in Greece

PTI

GMR-Groupe ADP deal for airport business gets Competition Comm nod

PTI

After selling Turkey airport, GMR is now all set to build airport in Crete, Greece

PTI

SpiceJet inks pact with GMR Hyderabad Aviation SEZ

PTI

Top stocks to watch on Tuesday— Future Retail, Adani Enterprises, Wipro, Axis Bank, GMR Infra, LIC Housing Finance and more

Navdeep Yadav

GMR Infra's loss shrinks to 279 Cr in Q3

PTI

GMR Hyderabad Aerotropolis forms JV with ESR to develop logistics park for Rs 550 cr

PTI

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