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The Rajiv Gandhi International airport at Hyderabad, inaugurated by the UPA Chairperson, Smt. Sonia Gandhi on 14th March, 2008, commenced operations from 0001 hrs on Sunday, 23rd March, 2008. The new airport was opened to the public, pursuant to the notification issued by the Ministry of Civil Aviation to launch operations. On 23rd March, 2008, a Lufthansa flight carrying 222 passengers became the first commercial flight to touch down at the new Greenfield International airport. With the new Greenfield airport starting full-scale operations, the existing airport at Begumpet has been closed for civil aviation operations. The International Air Transport Association Code ‘HYD’ has also been transferred to the new airport.
The new Rajiv Gandhi airport has been developed by GMR Hyderabad International Airport Limited (GHIAL), a joint venture company promoted by GMR Group (63%) and Malaysia Airports Holding Berhad (11%), Government of Andhra Pradesh (13%) and Airports Authority of India (13%) as the other consortium partners. GHIAL had won the bid to develop and operate the Greenfield international airport at Shamshabad through an international competitive bidding process conducted by the Government of Andhra Pradesh and the Government of India. The new airport has also obtained the following clearances -:
Aerodrome Licence and Clearance for Operations of Fire Fighting Systems from the Director General of Civil Aviation (DGCA) Environmental Clearance granting consent for operations from the Andhra Pradesh Pollution Control Board (APPCB) Clearance for the airport as a notified Customs zone.
The launch of the new Greenfield airport signifies the successful culmination of the Airport’s Operations, Readiness and Trial (ORAT) runs that have been underway for more than 18 months, from the date of commercial operations. GHIAL had engaged the services of Munich Airport International, for the ‘cut over’ or transition of airport operations from the existing to the new airport. GHIAL'S mandate besides building and financing the airport also includes operating and maintaining the airport with service standard levels and infrastructure at par with any global benchmark, thereby enhancing the shareholders’ value. Build through the Public-Private Partnership initiative, the developers of the futuristic airport seek to establish Hyderabad on the global map and thereby contribute to the prosperity and overall development of the region. The airport is strategically located providing excellent opportunity to develop it as a hub for domestic and international passenger and cargo traffic. The futuristic airport reflects the long term vision of its developers to build it as a major domestic and international hub. Hyderabad is centrally located and within a two hour flying time to all the major cities in India and 4 hours from major cities in the Middle East and South East Asia. The city has the potential not only to become one of the main hubs in India while also handling traffic between the East & West. The proliferation of IT companies has earned Hyderabad the reputation as India’s second Silicon Valley. The city is also a major centre for biotechnology and pharmaceutical companies. Among the MNC'S who have a presence in Hyderabad include: Microsoft, Oracle, GE, IBM, Deloitte, HSBC, Baan and Indian corporates like TCS, Infosys, Wipro and Satyam.
.Hyderabad has a population of over 7 million inhabitants and a catchment area extending to 75 million people living within a couple of hours of the city. Currently there are 16 international airlines and 11 domestic airlines operating from Hyderabad flying to over 35 destinations.
1.2 BUSINESS OVERVIEW
Corporate Social Responsibility (CSR) is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large". This holistic approach to business regards organizations as being full partners in their communities, rather than seeing them more narrowly as being primarily in business to make profits and serve the needs of their shareholders. CSR, as a notion, has been in India from times immemorial through the concept of “daana”, an act of giving a voluntary contribution for a greater good. CSR means that companies have obligation not just to their investors but also to the society and environment. CSR is a social investment as opposed to philanthropy. It is important to distinguish CSR from charitable donations and “good works” (i.e., philanthropy, e.g., habitat for humanity). Corporations have often, in the past, spent money on community projects, the endowment of scholarships, and the establishment of foundations. They have also often encouraged their employees to volunteer to take part in community work and thereby create goodwill in the community, which will directly enhance the reputation of the company and strengthen its brand. CSR goes beyond charity and requires that a responsible company take into full account its impact on all stakeholders and on the socity / environment when making decisions. This requires the company to balance the needs of all stakeholders with its need to make a profit and reward shareholders adequately. Like all business initiatives, CSR requires thorough research, a detailed and proactive plan, regular management monitoring, constant interaction and feedback from the audience for whom the programme is run. In short, a commitment deeper than just lip
Airhostesses also get a decent . ticket agents and reservations agents. According to the International Air Transport Association (IATA). The year 2007 was the best ever in terms of growth for India's civil aviation sector. Some of the Operations jobs include: Pilots. According to government estimates.The remuneration for those in the aviation industry is on the higher side but this is essentially for the flying jobs.5 lakh to Rs.6 billion this year. There is also a wide range of positions on the ground and these include the services of mechanics. While the common perception about the sector is that it’s only about pilots and airhostesses. and junior pilots in a commercial airline can get paid as much as Rs.2 million passengers in 2007. cabin services instructor. In-flight base managers. growth in this sector will outpace the global average until 2025. pilots. 3 lakh per month. Opportunities . 2. continuity and constant monitoring and reporting. in-flight managers. Typically.Aviation essentially refers to all activities involving the operation of aircrafts. India will contribute significantly to global air travel.1 billion to US$ 5. airhostesses. The domestic airlines passenger load increased by 36. are one of the highest earners in the country. Market research firm PhoCus says that domestic air traffic is likely to more than double and touch 86. maintenance controllers.service. air passenger travel in India has been expanding at about 25% a year. which require special skills. Ever since the aviation sector opened up the skies to private carriers. aircraft maintenance engineers. cargo officers and ground staff. there are other equally significant job options that the industry cannot function without. Salary . The key factors here are sustainability.1 million passengers by 2010.47 % (to 317. cabin safety instructor. air traffic controller. up from 32. quality control manager. which is set to grow from US$ 5. by its latest estimates. baggage handlers.29 lakh passengers) in the first three quarters of 2007.
are making a beeline for India.7 lakhs -Rs. Future . opting for a career in the airlines has become both a lucrative and glamorous option GMR was originally incorporated on June 30th. Centre for Asia Pacific Aviation (CAPA). 8 lakhs range. Go Air Airlines. Kingfisher Airlines. Spice Jet. . The name of the Company was subsequently changed to GMR Vasavi Industries Ltd and a fresh Certificate of Incorporation was obtained on 1st February 1994. to set up a plant for the manufacture of Ferro Chrome at an installed capacity of 6. with private and international players entering the market.package with starting salaries for freshers being in the range of 25. The corporate side of the airlines industry however is not that well paid and salary levels for a manager could hover in the Rs. Air Sahara. that India's civil aviation passenger growth is among the highest in the world. Top Employers. “The sector is slated to cruise far ahead of other Asian giants like China or even strong economies like France and Australia.. in an interview said. There are also standard benefits such as health insurance and retirement plans.000 plus. Tekkali Mandal in Srikakulam District of Andhra Pradesh. With so much activity in the sector there is a tremendous need for personnel as well.Some of the top employers of the industry are Air India. 1986 in the name and style of Sree Sarada Ferro Alloys Ltd.Kapil Kaul.” The markets being as it is holds great promise for potential investors and numerous International no-frills budget carriers. CEO India & Middle East. Paramount Airways.000 TPA at Ravivalasa Village. the airline industry was largely government owned and perceived as regulated and also a tad boring. The number of passengers who will be airborne by 2020 is a whopping 400 million. One interesting perk this sector offers is a quota of free tickets for the staff and family. Indian Airlines. and Air Deccan. While earlier. Jet Airways.
As the project could not be implemented by the original promoters viz. Mr O Bangaru Raju has resigned form the Board of Directors of the company and the Board has accepted his resignation wef December 30. 2000 . Sri K Srinivas Rao and associates.The Company has entered into tripartite agreement with NSDL and CDSL and Karvy Consultants Ltd. The company enhanced the manufacturing capacity from 6.. V Raghunathan as the Managing Director of the Company. (R&T agents) to make the equity shares of the company available for dematerialisation. Hyderabad.000 TPA to 10926 TPA during 1993-94 nd achieved a capacity utilisation of 63.12% in 1990-91 which subsequently increased to 89.73% in 1991-92 and around 88. GMR's existing Ferro Alloys operations registered a capacity utilisation of 71. the present Directors comprising Shri G Mallikarjuna Rao and Shri S Suryanarayana Murthy had taken over the management in 1989 and implemented the said project.20% in 1992-93. which is going to be a 100 per cent subsidiary of the company. -GMR Industries picks up Best Performer Award 2007 -GMR Industries Ltd has appointed Dr.83% during 1993-94. with effect from January 25. The capacity utilisation has been lower due to shut down of the Plant for a period of about 2 months on account on implementation of the expansion project and time taken for stabilisation of production. a group company.GMR Technologies & Industries Ltd has informed BSE about the following changes in the composition of the Board of Directors of the company: 1. . Mr K V K Seshavataram has been elected as the Chairman of the Board of Directors of the company 2. Sri P V Lakshmana Rao.. 2002. 2001 . 2003 . 2007. 2002-V Balasubramanian appointed as Company Secretary of GMR Technologies.The Board has resolved to hive-off the brewery division to GMR Beverage Industries Ltd.
The ultimate capacity of the airport is over 40 mppa and 1 million tonnes of cargo per annum.Passenger Terminal Building Works and ATC power Key Features : 12 million passengers per annum (mppa).3 ORGANIZATIONAL STRUCTURE Project Details Location Hyderabad. 30 remote stands. Airport-Features The new airport in the initial phase is capable of handling 12 mppa and more than 100. With the gross domestic product (GDP) rising by more than 9% yearly. 130 Common User Terminal Equipment (CUTE) check-in desks and 16 self check-in kiosks and 46 immigration counters. India Airport Opening Date Commercial Operations Date: 23rd March. The single terminal building of the airport is equipped with 12 contact boarding bridges. A-380 compatible runway. services and export industries mean that more Indians are travelling than ever before with passenger numbers rising by double digits year-on-year. and a Business Hotel. The booming manufacturing. Modular Terminal Building with state-of-the-art IT technology.000 tonnes of cargo per annum. India is one of the world’s fastest growing economies. The airport also has the latest IT . 2008 Principal EPC Contractors involved : Larsen & Toubro – Airside & Landside Works China State Construction & Engineering (HK) .1.
The company will use its global expertise and experience in retail design and business development.000 sq. GHIAL with its user-friendly modular design of the passenger terminal will initially cover over 100. .based consultant company. will be operational by mid 2008. metre of floor space that would ensure rapid transit between its Domestic and International concourses. The fluid design is such that sequences of spaces are provided to facilitate easy and comfortable movement and orientation. A UK.000 sq. A hotel complex named as the ‘Novotel Hyderabad Airport’ adjacent to the terminal building.Nuance . for development and operation of cargo facilities LSG Sky Chef & Sky Gourmet for in-flight catering Reliance Industries to operate and maintain India's first unique open access model in setting up a fuel farm inside the airport Novotel. of floor space that would ensure rapid transit between its Domestic and International concourses. Accor Group to operate and maintain a business hotel with four star facilities to host the transit and business passengers.systems and will also be introducing India’s first Airport Operational Database (AODB) technology. The passenger terminal building is spread over 100. The complex has a dedicated ‘Airport Village’ with a local flavour complete with shops for meeters and greeters. to design the blue-print of the retail layout. m. attractive and loose-fit. to shape the retail landscape around the airport.Shopper’s Stop consortium for the development and maintenance of Duty Free and Retail facilities for domestic and international passengers. GHIAL has also tied up with the following business partners to operate and manage various facilities at the airport :Menzies Aviation Plc. Design Principles The basic design of the passenger terminal building is simple. operated by the Accor Group of Hotels.
Apollo Hospital for providing medical services at the Airport. . a first of its kind. The major access points to the new airport are from National Highway NH-7 (on its West) and Srisailam State Highway (on its East) besides the proposed Outer Ring Road (ORR). Tata Teleservices to provide Fixed Line (V&D) Services HMS Host to operate and maintain Food & Beverage outlets at the airport Connectivity to the Airport GHIAL is closely involved in supporting the Government of Andhra Pradesh Government's efforts to improve and enhance connectivity to the airport. which is into development of airports.Menzies and Bobba & SATS ground handling for international airlines. power projects and roads. Homeland Mining is a subsidiary of Homeland Energy Group of Canada. Tenaga Parking (India) Pvt.4 MAJOR MERGERS & ACQUISITIONS GMR to pay Rs 620 cr for 50% in SA coal firm GMR Infrastructure. to manage lounges in the airport. for managing advertisement rightsSabena Flight Academy to setup an International Aviation Academy. through its wholly-owned subsidiary GMR Energy on Thursday said that it has picked up 5 per cent stake for Rs 60 crore ($15 million) in Homeland Mining & Energy in South Africa. 11. Plaza Premium Lounge.6 km long elevated expressway is under progress to help passengers reach from the city centre to the expanded six lanes NH-7 road. a Mono Rail Transport System (MRTS) and other alternative modes of transport are being planned in collaboration with the State government. for the management of the Car Parking facility at the airport. Besides. Laqshya Media Pvt Ltd. 1.Landmark and Odyssey to opened and operate bookstore. Ltd. a Multi-Modal Transportation System (MMTS). arriving at the new airport within 30 minutes. Also.
GMR Energy is tying up with four more projects across India. Homeland Mining holds licence for several coal mining projects in South Africa. none of which are on coal. According to a statement from GMR Infrastructure. In addition to the two thermal projects. including 7 independent Directors.6 MANAGEMENT PROFILE Profiles of Directors The Board of Directors consists of 14 Directors. GMR Energy is in the process of executing two coal fired power plants with a total generation capacity of 3150 mega watt (MW) in Orissa and Chattisgarh. GMR Energy currently has three power plants operational generating 800 mw. CMD and Group CFO. 1.GMR Infrastructure has further added that they have an option to acquire an additional 45 per cent of this South African firm by September 2008 and the total payout for the 50 per cent stake is $155 million (about Rs 620 crore). The Chattisgarh project of 1050 MW is likely to start generation at a much later stage as the memoranda of understanding (MoUs) have recently been signed.” the statement added. The profiles of the members are furnished below: . The Orissa project will have two stations generating 1050 MW each and is expected to generate power from 2012. “This acquisition would ensure fuel security for GMR Group’s power projects in India and such a transaction also acts as a catalyst in the development of the energy business of the group.
M. Chairman and Managing Director. we are only beginning. 2006. the CSR arm of the Group.Mr. G.” – G. I want to set up a great organisation.M. He is a distinguished industrialist and the founder Chairman of the GMR Group of companies (Group) and GMR Varalakshmi Foundation. in recognition of his services to industry. Rao. Hyderabad. 58. is the promoter and one of the first directors of the Company. He was a director on the Board of Vysya Bank for several years and also served as Non-Executive Chairman of ING Vysya Bank between October. He is a graduate in mechanical engineering from Andhra University. He was awarded the Doctorate in Philosophy in 2005 by the Jawaharlal Nehru Technological University. I don’t want to be the biggest. 2002 and January. Rao . “We have grown in assets but compared to other large groups.
He has over 23 years of experience in the infrastructure. Group Director.Mr. As the Managing Director of Vemagiri Power Generation Limited (VPGL). 44. Srinivas Bommidala. G. fast moving consumer goods and services sectors. He led the Company’s foray into the power sector with setting up of 200 MW power plant at Chennai and was the Managing Director of GMR Power Corporation Private Limited (GPCPL). . Currently. M. he is the Managing Director of Delhi International Airport Private Limited. Andhra Pradesh. he led the implementation of the gas based power project in Vemagiri. agriculture. is the son-in-law of Mr. Rao and is one of the first directors of the Company.
including Group finance function. he heads Group HR and Corporate Communication functions.M. Kiran Kumar. He began his career as the Managing Director of GMR Energy Limited and was responsible for setting up the 220 MW barge-mounted power plant. In addition. G. is the elder son of Mr. is the younger son of Mr. Group Director. He led the Company’s foray into Airports business and currently as the Managing Director of GMR Hyderabad International Airport Limited (GHIAL). he is spearheading the implementation of the airport project at Hyderabad. Rao and has been on the Company’s Board since 1999.Mr. He also heads various corporate functions. Before taking over the reins of GHIAL. Group Director and Group Chief Financial Officer. .M.B.S. He led the Company’s diversification into Roads Sector and is currently leading the Company’s foray into Property Development business. G. G. Rao and has been on the Company’s Board since 1999. 33. Raju. G. he headed the Group’s Finance function and the shared services. He is also responsible for the development of new business in the airports sector. 31. Mr.
Mr. Nageswara Rao. In addition. . B. he gained extensive experience in the banking sector with specific focus in industrial finance. He held various senior responsibilities in the Group and currently hads Energy Sector and Roads Sector businesses of the Company. Group Director. he holds charge of the Corporate Relationships function at the Group level. He is director on the Boards of several subsidiaries of the Company and is the Managing Director of GPCPL. During his stint with Andhra Bank before joining the Group. V. 53. has been associated with the Group since 1990 and is one of the first directors of the Company. He is a graduate in mechanical engineering.
India and Nepal as well as the Chief Credit Officer for the Asia-Pacific region and Indian subcontinent. Balasubramanian. . Through his 25 years tenure with American Express Bank. 64. Before he joined the Board. he held several senior positions such as the Country Head for Korea. K. has been on the Company’s Board since 2004. his last professional assignment was as the Managing Director and CEO of ING Vysya Bank. He has close to 40 years of experience in international banking and worked with four large Banks in India and abroad. Director. He is also the Chairman of GPCPL and is on the Boards of some subsidiaries of the Company.Mr.
a subsidiary of the Company. P.Mr. oil and natural gas sectors with reputed companies in India and overseas. has been on the Company’s Board since May. Sweden.B. He did his masters in electrical engineering from the Royal Institute of Technology. 54. He has an honors degree in electrical engineering from the University of Madras in 1973 and has completed a Financial Management Programme from Harvard Business School in 2001. He held many senior positions in various . 2005. U. He worked in senior management positions with electric utility and oil and gas companies in the Middle East.A. Till recently. 62. he was the head of the Group’s Power Sector Business Development. has been on Company’s Board since September. 2006. Mr. He has over 34 years of experience in the power. He is also a director on the Board of GMR Energy Limited. and was responsible for India and Middle East for development and investment in large thermal electric generation projects. Thiagarajan. Director. Arun K. Vanchi. He received the Indira Gandhi Priyadarshini Award in the year 2002 in recognition of his notable contribution to the development of the Indian power sector. Director.S. He also obtained a management degree from Sweden and did an advanced management program from Harvard Business School (USA). New Jersey. He served as the vice president and regional business head for PSEG Global Inc. an affiliate of Public Service Electric and Gas.
global companies including President & Country General Manager - Hewlett-Packard India Limited, Vice Chairmans - Wipro and Managing Director - ABB Limited. He is also on the Boards of several other companies.
Mr. K.R. Ramamoorthy, 66, Director, has been on Company’s Board since September, 2005. He is on the Boards of some subsidiaries of the Company. He is a very senior banker, with over 41 years of commercial and banking experience in India. He served as the Chairman and Managing Director of Corporation Bank and Vysya Bank. He is currently the non-executive Chairman of ING Vysya Bank. He has been providing consultancy services to commercial banks in India and other developing countries. His services are also being availed by World Bank, IMF and IFC. Presently, he is also on the Boards of several other Companies.
Dr. Prakash G. Apte , 60, Director, has been on the Company’s Board since September, 2005. He holds a doctorate degree in economics from Columbia University. He also holds a post graduate diploma in management from the Indian Institute of Management, Kolkata and B.Tech. (Mechanical Engineering) from Indian Institute of Technology, Mumbai. Currently, he is a director and UTI chair professor at the Indian Institute of Management, Bangalore. He taught Economics at the Vassar College, Poughkeepsie, USA, and Columbia University. He was a consultant at Edison Electric Institute, New York and a project manager at Centron Industrial Alliance, Mumbai. He has published four books and several articles in academic journals and professional media. He has served on expert committees appointed by NSE and SEBI and is a consultant to several leading organizations in Government, public and private sectors. He has also been a visiting faculty at the Katholieke Universiteit Leuven, Belgium. He is also on the Boards of several other Companies.
Mr. R.S.S.L.N. Bhaskarudu, 66, Director, has been on the Company’s Board since September, 2005. He is also on the Board of GHIAL, a subsidiary of the Company. He is a graduate Electrical Engineer from College of Engineering, Andhra University. He has over 44 years of experience with proven track record in management and leadership positions. He served more than twenty one years at Bharat Heavy Electricals Limited (BHEL). During his tenure in BHEL, he was involved in the development and production of Turbine Generator sets including auxiliaries all over the country. He also worked for over 16 years with Maruti Udyog Limited (MUL) from its inception. He served as the Managing Director of MUL. He also served as a Member / Chairman of the Public Enterprises Selection Board of the Government of India. Presently, he is also on the Boards of several other Companies.
Chairman. he also served as member of the 12th Finance Commission. T. Heavy Industry and Chairman. He served as Cabinet Secretary. He is a retired officer of the Indian Administrative Service of the 1963 batch. 65. Industrial Policy and Promotion. He was also a director of IDBI. has been on Company’s Board since April. of India. Nagarjuna Chemicals and Fertilizers and Dredging Corporation of India. Prasad. Hindustan Shipyard.Mr. from 1st November 2000 till 31st March 2002. Foreign Investment Promotion Board. Prior to that. Vizag Steel Plant. Ministry of Industry. Secretary. he is also on the Boards of several other Companies. Secretary. Presently. EXIM Bank. . Later. Govt. R. he served as the Defence Secretary. Maruti Udyog Limited. Government of India. 2006. Director.
Director. Uday M. Chitale. His main areas of specialization are corporate laws. SEBI and professional bodies such as Institute of Chartered Accountants of India and Bombay Chartered Accountants Society.P. He is / has been director of some prominent companies including ICICI Bank Limited. has been on Company’s Board since September.Mr. 2005. mergers and acquisitions. Director. He is a practicing Chartered Accountant and is the Senior Partner of M. He has been practicing law for more than 34 years. Mr. a subsidiary of the Company. ICICI Securities Limited and JSW Steel Limited. has been on the Company’s Board since September. Mumbai. He is also a director on the Board of VPGL. . He is a lawyer by profession and presently the Advocate General of the State of Karnataka. 2005. Udaya Holla. Chitale’s core professional practice areas include corporate auditing and management advisory services especially to the financial sector. 56. Reserve Bank of India. 57. affiliated to DFK International. FEMA and other legal matters. Mr. Mr. Chitale & Co. His special interests include international business negotiations and commercial ispute resolution. foreign collaborations and joint ventures. He is currently a Director on the global board of DFK International and Vice President in charge of Asia Pacific region. Insurance Regulatory & Development Authority. He is also a director on the Boards of some subsidiaries of the Company. Chitale served on several expert committees set up by the Government of India.
The council provides thought-leadership to the Group Companies in formulating strategies. GMR sitting . he received accreditation as ‘Certified Mediator’ from the Centre for Effective Dispute Resolution (CEDR).He is one of the pioneers who has contributed to the development of Alternative Dispute Resolution in India and is the founder Director of Indian Council for Dispute Resolution.Chairman. ensuring employee programmes. UK. Rao GMR Group of over 2000 people is headed by the Chairman and Group Executive Council members. supporting core values. G. . identifying critical behaviours. driving these behaviours to make people countable and creating an environment where people are respected and feel a part of the organisation. In the year 2000.M.
GMR Group Executive Council Sitting . G.V. Apte . K.Director P. Rao .M. B. S.Srinivas Bommidala. Raju.Independent Director Udaya Holla . Raju . Vanchi .Director Arun K. L. Thiagarajan -Independent Director K. G. Balasubramanian. S. Kiran Kumar & B. Vanchi. M.Group Director K. B.N.Independent Director R. R. Rao Standing from left to right . V. N. Prasad . Cherukupalli Audit Committee K.Member . Prakash G.Chairman.Independent Director Uday M.Group Director & Group Chief Financial Officer G.Chairman Arun K.Group Director B.Independent Director T. Chitale . S. R. Balasubramanian . Kiran Kumar . S.Independent Director Dr. Ramamoorthy .Chairman & Managing Director Srinivas Bommidala -Group Director G.Member Uday M.B. Rao Board of Directors G. Thiagarajan .S. P. Nageswara Rao . Bhaskarudu . G. Ramamoorthy .Member Udaya Holla .B.Independent Director Company Secretary & Compliance Officer A. R. Chitale .
Member G.Malaysian Airports Holding Berhad. "Accordingly. "Now. Leveraging the public-private partnership model. GMR management intends to exploit the emerging opportunities in the transport sector. transportation. the group has been developing and managing infrastructure projects over the last few years. operate and own (BOO) basis in association with Malaysia's leading airport management company .Ramamoorthy .NageswaraRao .Chairman K. the GMR Group is into infrastructure. Currently. aviation and container services.has recently announced financial closure and commenced project works for the Greenfield International Airport at Hyderabad.Hyderabad International Airport Ltd (HIAL) .Member B. Raju . The project is being implemented on a build. as a first step to exploit the opportunities in the transportation sector.R." according to highly placed company sources. the company proposes to acquire aircraft for own use as well as for chartering services.V." the sources told Business Line. The management plans to consider foray into shipping and container services subsequently. the company is exploring various options such as shipping.Member Bankers Central Bank of India ICICI Bank Limited ING Vysya Bank Limited Statutory Auditors Price Waterhouse Chartered GMR group entity . .S.B.Shareholders’ Transfer & Grievance Committee Udaya Holla . power and manufacturing.
HIAL has also recently formed a consortium and bid for the restructuring and modernisation of the Delhi and Mumbai airports. 1986 in the name and style of Sree Sarada Ferro Alloys Ltd. with Fraport AG (Europe's largest cargo hub and second largest passenger airport). The name of the Company was subsequently changed to GMR Vasavi Industries Ltd and a fresh Certificate of Incorporation was obtained on 1st February 1994. "The consortium's expression of interest for Delhi airport modernisation has been accepted and it is now working on submitting a proposal that would detail its capabilities in developing the project.GMR Industries board has recently approved a resolution to this effect and has also decided to seek the approval of shareholders through postal ballot." sources added.. As the project could not be implemented by the original promoters viz.73% in 1991-92 and around 88. Sri P V Lakshmana Rao. to set up a plant for the manufacture of Ferro Chrome at an installed capacity of 6.000 TPA at Ravivalasa Village. sources said..20% in . the present Directors comprising Shri G Mallikarjuna Rao and Shri S Suryanarayana Murthy had taken over the management in 1989 and implemented the said project.12% in 1990-91 which subsequently increased to 89. GMR was originally incorporated on June 30th. permissions from the Central and State Government Departments to carry on the business of chartered airline business. The company proposes to obtain required licences from the Civil Aviation Department. Tekkali Mandal in Srikakulam District of Andhra Pradesh. GMR's existing Ferro Alloys operations registered a capacity utilisation of 71. Frankfurt Airport Services Worldwide (owners and managers of Frankfurt Airport) and the India Development Fund (an IDF AMC managed fund). Airports Authority of India and other statutory approvals. Sri K Srinivas Rao and associates.
-GMR Industries picks up Best Performer Award 2007 -GMR Industries Ltd has appointed Dr. 2002. which is going to be a 100 per cent subsidiary of the company. V Raghunathan as the Managing Director of the Company. CHAPTER 2 2. (R&T agents) to make the equity shares of the company available for dematerialisation. a group company. The company enhanced the manufacturing capacity from 6.The Board has resolved to hive-off the brewery division to GMR Beverage Industries Ltd. The capacity utilisation has been lower due to shut down of the Plant for a period of about 2 months on account on implementation of the expansion project and time taken for stabilisation of production. Mr K V K Seshavataram has been elected as the Chairman of the Board of Directors of the company 2. 2002-V Balasubramanian appointed as Company Secretary of GMR Technologies..PRODUCT AND SERVICES .GMR Technologies & Industries Ltd has informed BSE about the following changes in the composition of the Board of Directors of the company: 1.The Company has entered into tripartite agreement with NSDL and CDSL and Karvy Consultants Ltd. Hyderabad.1992-93. 2001 .000 TPA to 10926 TPA during 1993-94 nd achieved a capacity utilisation of 63. 2000 . Mr O Bangaru Raju has resigned form the Board of Directors of the company and the Board has accepted his resignation wef December 30. with effect from January 25.83% during 1993-94. 2007. 2003 .
and the capacity for mass consumer outreach at the airport par with the facilities found in any other international airport.2. they have delivered the best telecom technology. Immigration Counters (46) Departure – 23 Arrival – 22 Transit – 1 In-line Baggage Handling System RGIA is the first Indian airport to install the four level in-line baggage handling system. The airport operator has also procured and provided state of the art technology to supplement the infrastructure provided by the service providers to ensure all Airport users a tryst with true International standard access to all the teleservices and the ‘free W-Fi’ . there are 130 check-in counters and 16 selfcheck in counters for passengers carrying only cabin baggage. Transfer Desk There are four types of transfers available in the terminal these include: Domestic to Domestic International to International Domestic to International International to Domestic Telephone / Internet Bharat Sanchar Nigam Limited & Tata Teleservices Limited have provided Fixed Line (Voice & Data) services at the Rajiv Gandhi International Airport.1 An Overview Terminal Facilities Baggage Wrap Telephone / Internet Travel Hotel Booking Counters Porter Services at RGIA Baggy Services Terminal Facilities Check-in Counters To facilitate quicker turnaround times. With several telephone and internet kiosks that are conveniently located throughout the terminal. global infrastructure.
They also offer services for meeters and greeters. Marriott and Novotel Hotels have their booking counters for the convenience of the arriving passengers at Rajiv Gandhi International Airpor t. escorting services. Porter Services at RGIA Domestic International For both arrivals and departures Rs. 100 Rs. guided tour packages for the comfort of the passengers. They will offer various range of services to Passengers like travel assistance and solutions. A robust 99.internet facilities*. flight bookings. Visa. tour operator services. Hotel bookings. passport assistance and travel insurances.99999% redundancy setup ensures Rajiv Gandhi International Airport to be a true world class facility ! Note: *45 mintues free Travel Travel Services at Rajiv Gandhi International Airport is provided by Thomas Cook and Mercury Travels. Hotel Booking Counters Taj. 200 . Rail bookings.
Baggy Services Free Baggy services are available at: International Departure area after security check Domestic Departure area after security check International Arrival area Domestic Arrival area Paid Baggy services are available at: Car Park area .
Valuation Unlike DIAL. we believe that CPI-X model for regulation on revenues would not make the project viable as the passenger traffic of both airports is not comparable. HIAL's revenues are not regulated by CPI-X model and thus have a scope to grow with an increase in the traffic. Also. .
Ltd. we have assumed a moderate growth in the passenger traffic. the EBITDA is expected to grow in the immediate future. the airport has a permission to levy User Development Fee (UDF) for every departing domestic and international passenger. Power Sector revenues continue to have a dominant share in the total revenues with 62% share for the Current Year though its share in the total revenue has declined from 85%. going forward.1% in Current Year as against 44.7% during Previous Year. with a moderate increase in traffic flow YoY and expansion of non-aero revenues.3 Revenue and Income Summary GROSS REVENUE Gross Revenue = Income from Operations (including income from services in case of Power Sector) plus Other Income. 1. 1. .065 Crore due to: – induction of new revenue streams from Delhi Airport during the Current Financial Year – higher revenues from power business Plant Load Factor (PLF) of GMR Energy Limited has gone up to 26. Our valuation is based on a 60 years model and incorporates revenues from aero side only. We have also taken a conservative stance on the usage on non-aero facilities. We have valued the land (without development) separately. On account of the present silence in the realty market. based on discount to current prices prevailing in the market. has gone up to 52. The shift is mainly due to new stream of revenues from Delhi Airport which contributed 30% of total revenue for the Current Year. On account of dullness in the aviation sector in India.4% in Current Year as against 12.Being a greenfield development. Thus. our valuations to that extent are conservative and have a scope of upside.987 Crore from Rs. Consolidated Gross Revenue has increased by 87% to Rs. The other differentiating factor from DIAL is absence of any major capex in coming years.3% during the Previous Year. The land side revenues arising from 1500 acres are expected to take some time to materialize. PLF in case of GMR Power Corporation Pvt. 2.
Consolidated Net Revenue has gone up by 61% to Rs.99% of the gross revenue with Airports Authority of India. 1. .NET REVENUE Net Revenue = Gross Revenue less Annual fee to Airports Authority of India in Delhi Airport. Share of Airport in Net Revenue is 19% as against 30% in Gross Revenue is due to sharing of 45. though its share has reduced. 1. due to induction of airport revenue during the year. Power Sector continues to have majority contribution of 72% of net revenue as against 85% during the Previous Year.715 Crore from Rs.065 Crore for the reasons stated in Gross Revenue.
11 Crore from Rs. New business Vertical i. PAT from Road Sector has gone up by Rs. due to higher operational efficiencies and new streams of service income.PAT Consolidated PAT has gone up by 157% to Rs.e. The losses from “others” segment have gone down to Rs. 37 Crore (including consolidation adjustments) during the Current Year to the consolidated PAT.17 Crore as compared to the Previous Year due to interest income earned on IPO surplus funds in GMR Infrastructure Limited. 20 Crore mainly due to lower net finance costs for the year. 94 Crore. Airport Sector (DIAL) has added Rs. PAT from Power sector has gone up by Rs. 1956.. 85 Crore) due to lower depreciation for the year in consolidated financials on account of adoption of uniform depreciation rates for power assets as specified in the Schedule XIV to the Companies Act. 242 Crore from Rs. 85 Crore (net of losses from Vemagiri Power to the tune of Rs. .
CHAPTER 3 3.FINANCIAL INFORMATION FOR THE FISCAL YEAR .
Gas. are generally required to be developed and operated as special purpose vehicles. pursuant to the related concession agreements. Hence. The fee of Rs. the Company had five operating subsidiaries which have contributed to the aforesaid Consolidated Revenues. It does not have any stand alone revenues except dividends received from subsidiary (s) and the treasury income earned on its surplus funds. develops and operates all its current projects/businesses through various subsidiaries.1FINANCIAL SUMMARY FOR THE FISCAL YEAR The Company has a unique business model. 2006.e. It derives all business revenues and business profits from its various subsidiaries. the aforesaid Gross Operating revenue includes revenue from this newly inducted business only for a period of about 11 months.99% of the Gross Revenue from the . For the year 2006-07. These operating assets consist of two power projects. it could not continue the operations due to non availability of fuel i. In addition. It currently operates in three sectors of infrastructure business viz. Power and Roads. in the context of the business model of the Company. Hence. 271. The Company does not operate any business directly. Vemagiri Power project. present the highlights of the consolidated financial performance and analysis thereof.. The company’s subsidiary. has commenced commercial operations and generated a small revenue of Rs. Delhi International Airport Private Limited.49 Cr. only consolidated accounts present the complete picture of the revenues and results of the business operations. the charts also give sector-wise break-up of the financial highlights.98 crore shown as reduction from Gross Revenue represents the revenue share of 45.3. the Company. has taken over the operations of Delhi Airport effective from May 3. as of today. Airports. As infrastructure projects. 4. two annuity road projects and one airport project. Though another power asset. The following table and the charts along with the comments.
During the financial year 2006-2007.84 Crore respectively for the financial year 2005-06.12 Crore has been spent on the project. The project achieved the financial closure in May.37 Crore respectively for the financial year 2005-06.Rs. after achieving timely financial closure. one project is an annuity based road project while the rest are toll based road projects.1. in Crore. is due to absence of certain non recurring revenues earned during the previous year and increase in profits for the year is mostly due to lower finance costs for the year. 2007.38 Crore (includes other income but excludes interest income) and Rs.14 Crore has been funded in the debt equity ratio of 2.29 Crore as compared to Rs.16. In addition to the aforesaid two road projects in operation. an amount of Rs. is implementing a toll based road project on a 35 kilometers stretch between Ambala and Chandigarh on NH 21 and NH 22. as per the terms of the Operation Maintenance and Development Agreement. construction of four road projects has been taken up during the year.57:1. Details and status of these projects are as under: • GMR Ambala .10. Since the both road projects are annuity based. 90.airport paid to Airports Authority of India. 60.19 Crore (includes other income but excludes interest income) with a net profit of Rs. The total project cost of Rs. As on 31st March. the revenues from year to year should normally be the same.142. GMR Tuni-Anakapalli Expressways Private Limited generated total revenue of Rs 59. the marginal decrease in the total revenues. 2006.44 Crore as compared to Rs. is implementing a toll based road project on a 46 kilometers stretch between Farukhnagar and Jadcherla on NH 7. 84. GMR Tambaram-Tindivanam Expressways Private Limited generated total revenue of Rs.4. particularly in the case of Tambaram-Tindivanam project.05 Crore (includes other income but excludes interest income) and Rs.This is expected to become operational by mid 2008.31 Crore (includes other income but excludes interest income) with a net profit of Rs. However. • GMR Jadcherla Expressways Private Limited.Chandigarh Expressways Private Limited.391. Of these four projects. During the financial year 2006-2007. This project also includes the operation of an additional 12 kilometers stretch on the .
This is expected to become operational by the end of 2008.about 3000 kms NHDP Phase – VI – Expressways to be developed on Greenfield basis-about 1000 kms NHDP Phase – VII – Ring roads. 2006.46 Crore has been spent on the project construction. As on 31st March. As on 31st March.795 Crore has been funded in the debt equity ratio of 3:1. 2007. Bypasses around major metros and cities . The project achieved the financial closure in August. This is expected to become operational by the end of 2008. The total project cost of Rs.955 Crore. 120. The project achieved the financial closure in September. • GMR Pochanpalli Expressways Private Limited is implementing an annuity based road project on a 86 kilometers stretch between Adloor Yellareddy and Kalkallu on NH 7. 2006. 2006. • 2224 kms of four laning under NHDP phase IIIA and • 1054 kms of four laning under NHDP phase IIIB. an amount of Rs. an amount of Rs. an amount of Rs.Bangalore highway. The project achieved the financial closure in October.131.106.471 Crore has been funded in the debt equity ratio of 3:1. The total project cost of Rs. 2007. The estimated cost of this plan is about Rs. As on 31st March. This project also includes the operation of an additional 17 kilometers stretch on the Hyderabad-Nagpur highway.09 Crore has been spent on the project. • GMR Ulundurpet Expressways Private Limited is implementing a toll based road project on a 73 kilometers stretch between Tindivanam and Ulundurpet on NH 45. This plan includes: • 2995 kms of six laning of Golden Quadrilateral under NHDP (National Highway Development Program) phase V. The plan outlay of NHDP till year 2010 is as given below: NHDP Phase – III A & B – About 6000 kms of four laning NHDP Phase – V – Six laning of Golden Quadrilateral. This is expected to become operational by mid 2008. The total project cost of Rs. 2007.690 Crore has been funded in the debt equity ratio of 4 : 1.40.43 Crore has been spent on the project. Future Plans National Highways Authority of India (NHAI) has set the highest ever annual target to offer 6273 kms of roads for development on BOT basis for the year 2007-08.Hyderabad .
we are gearing ourselves to make competitive bids for all the projects identified as viable and profitable based on our detailed bid studies. 3.2 BREAKUP OF REVENUE AND SALES TRENDS . aggregating to a total length of about 1350 kms. for two of the eight six laning projects under NHDP Phase V to ensure successful execution and operation of these projects. We have strong long term strategic plans to significantly add to our current portfolio of concessions and continue to remain as one of the lead players in the BOT road projects. As part of the business development efforts. We are awaiting the bid result for this project. • Formed a strategic joint venture with M/s Punj Lloyd Ltd. we have been doing extensive analysis and studies on the potential projects such as: • Detailed traffic studies taking into consideration the growth prospects specific to project corridors • Tie-up with potential contractors for implementing the project • Tie-up with Financial Institutions for innovative financial structuring • Finalization of tolling structure and collecting mechanisms including State of the Art Highway Traffic Management Systems (HTMS) • Building adequate expertise and talent to execute the projects in line with Global Standards Other major recent developments towards adding new concessions include: • Submission of bid for Khalghat – MP / Maharashtra Border Road Project of 83 kms after making all the analysis as above.The aforesaid plans of NHAI indicate that extensive business opportunities will unfold in the Roads Sector in the year 2007-08 and thereafter. • Submission of Request for Qualification (RFQs) for the eight six laning stretches under NHDP Phase V and also for the Greenfield Six lane Eastern Peripheral Expressway project. Apart from mobilizing all resources and harnessing the best practices in all aspects of project implementation to ensure that the four Road projects under implementation are commissioned on schedule.
62 456.97 106.46 Taxes 241.36 130.98 Authority of India 1.71 Depreciation 283.064.51 93.12 12.33 1.153.27 219.77 1.987.61 .09 1.35 1.715.03 Operating Expenditure 562.968.064.08 EBIDTA 144.74 18.98 – Less: Fee paid to Airports 271.Particulars 31-Mar-2009 31-Mar-2008 Gross Operating Revenue Other Revenue Total Gross Revenue 1.65 3.14 Interest 134.23 Profit Before Tax 41.98 608.061.11 Net Revenue 1.
FY10E and FY11E. respectively.GROSS REVENUE Gross Revenue = Income from Operations (including income from services in case of Power Sector) plus Other Income.987 Crore from Rs. FY10E and FY11E. We expect GMR's EBITDA margins improve in FY09E on account of power plant operations for five month and commencement of road BOT projects. . We expect GMR to post a consolidated PAT (after minority interest) of Rs1.9bn and Rs2.065 Crore due to: – induction of new revenue streams from Delhi Airport during the Current Financial Year.3Ratio and Market Indicators Financials We expect GMR to post consolidated revenue of Rs38bn (65% YoY growth). 1. Risk to our valuations Fluctuations in revenues and profits are expected on account of: • • • Airport and road BOT revenues are a function of traffic. they are Regulation of power traffic and non-availability of gas and coal can affect The induction of Intergen debt in GMRs balance sheet (expected sooner) highly volatile and are subject to damp patches between the years.8% YoY growth) and Rs54.6bn.0bn (21% YoY growth) in FY09E. will have a sizeable impact on Debt/Equity ratio and the interest charges. regular operations of HIAL. thus.5bn. 3. Rs1. the revenue combination may undergo a change YoY. Consolidated Gross Revenue has increased by 87% to Rs. the working of power plants (which was the case in FY09E).0 (16. on account of damp patches in power and specially in the airport sector. we expect the airport to clinch only a 35% share in overall revenues. 1. respectively. Rs44. From FY09E. SGIAL. However. respectively from FY09E. We expect GMR's DIAL Phase 1. power and road BOT projects to drive top-line CAGR of 33% and PAT CAGR of 25% from FY08-11E.
respectively. The CMP of Rs70 discounts GMR's FY09E. will result in higher interest cost and thus reduce the PAT. a low traffic as against higher depreciation on account of capex and higher input coast can damp the EBITDA and NET margins. GMR Infrastructure Q3FY09 …the worst maybe over GMR posted a 79.• On the same grounds.0x.0x and 1. Any further assumptions. downside in prices or land issues may affect the land value. FY10E and FY11E P/BV by 2. PAT after minority interest stood at Rs 409m.3% YoY decline in PAT to Rs 246m. 2. • • Higher debt levels for future power projects and DIAL rather than our Real estate forms a one-fourth part of our overall valuations.3% YoY growth in Q3FY09 on account of addition of Hyderabad airport and two power plants in the revenue stream. We initiate coverage on the stock with an Accumulate rating and twelve-month SOTP target price of Rs81. . Interest and depreciation continued to balloon on account of rising interest rates and increased capex in DIAL. Higher tariffs in power plants and better margins in annuity projects lead to a 198bps YoY improvement in EBITDA margins. The company also booked a forex loss of Rs 252m along with higher tax leading to a 69.9x.
addition of Ambala Chandigard BOT traffic and all power plants functioning for full quarter.4 EARNINGS AND INCOME ESTIMATES GMR Hyderabad International Airport Limited (“GHIAL”) GHIAL was incorporated on December 17. With effect from November 29. higher sales and robust power margins are expected to push Q4FY09 PAT. Thus. However the EBITDA margins would also remain stable as power plant higher EBITDA would off-set higher airport and new BOT road project expenses. III Floor.00 . GMR Hyderabad International Airport Limited is developing a green field international airport at Shamshabad.Forth Quarter…would show signs of improvement We expect the Q4FY09 sales numbers to rise as compared to Q3FY09 levels (sales at Rs 11bn. 3. 2003. The registered office of GHIAL is located at “Aparna Crest”. Hyderabad 500034. 2006 is as under: Sl.00 3 GMR Holdings Private Limited 2 0.power plants to run at best PLFs and lower forex losses. Hyderabad.00 2 GVL Investments Limited 2 0. Name of the Shareholder No of Shares of Percentage Rs.25% YoY grt and 15. 2005 the name of the company has been changed to GMR Hyderabad International Airport Limited.995 63. However.7% QoQ grt) on account of some pick up in PAX. No. 10 each (%) 1 GMR Infrastructure Limited 36. 2002 in Hyderabad. the fourth quarter would be crucial to watch as we have expected the air traffic to improve. Banjara Hills. Road No 2. Shareholding The equity shareholding pattern of GHIAL as on June 30. Andhra Pradesh as Hyderabad International Airport Limited and received its certificate for commencement of business on October 23.
Mr.L. G. 2006 are: 1. R. Balasubramanian 8. B.4 GMR Operations Private Limited 1 0. Rigas Doganis 9.730 100. Rao 5. Mr. Srinivasa Bommidala 4. T.B.460 11. Mr. Mr. Brahmananda Reddy (Alternate Director to Mr. M.635 13. K. G.00 7 Malaysia Airports Holdings Berhad 6. Mr. P.Bhaskarudu 7. Mr. P. Mr.S. Prof.00 Board of Directors The directors on the board of GHIAL as on July 8. Chatterjee Kumar) 14. Chatterjee 11. Mr. G. Mr. Rao 2. T.S.S. Ramakanth Reddy) 13. Kiran Kumar 3. Mr. Ramakanth Reddy 6.N. Rigas Doganis) 12. S Raju (Alternate Director to Prof. Dato’ Abd Hamid Bin Mohd Ali (Alternate Director to Dato’ Bashir Ahmad bin Abdul Majid) . N.00 5 Government of Andhra Pradesh 7.00 6 Airports Authority of India 7. Mr. V. Dato’ Bashir Ahmad bin Abdul Majid 10. T. Apparao (Alternate Director to Mr.635 13.00 Total 58.
It currently operates in three sectors of infrastructure business viz. . the charts also give sector-wise break-up of the financial highlights. It derives all business revenues and business profits from its various subsidiaries.The Company has a unique business model. The Company does not operate any business directly. Airports. The following table and the charts along with the comments. in the context of the business model of the Company. as of today. only consolidated accounts present the complete picture of the revenues and results of the business operations. present the highlights of the consolidated financial performance and analysis thereof. In addition. develops and operates all its current projects/businesses through various subsidiaries. As infrastructure projects. Hence. are generally required to be developed and operated as special purpose vehicles. pursuant to the related concession agreements. the Company. Power and Roads.. It does not have any stand alone revenues except dividends received from subsidiary (s) and the treasury income earned on its surplus funds.
has commenced commercial operations and generated a small revenue of Rs. Vemagiri Power project. the Company had five operating subsidiaries which have contributed to the aforesaid Consolidated Revenues.e. Hence. two annuity road projects and one airport project. 2006. Delhi International Airport Private Limited. These operating assets consist of two power projects. Gas.99% of the Gross Revenue from the airport paid . The company’s subsidiary. it could not continue the operations due to non availability of fuel i.For the year 2008-09. The fee of Rs. 271.49 Cr. Though another power asset. has taken over the operations of Delhi Airport effective from May 3. 4. the aforesaid Gross Operating revenue includes revenue from this newly inducted business only for a period of about 11 months.98 crore shown as reduction from Gross Revenue represents the revenue share of 45.
performance bond facility of Rs.00% Comprehensive Quote: 07/07/09 04:04 PM EDT .500 Crore and tied up working capital facility of Rs.5 Crore.134.00 % Change 0. 3. The Company availed a short-term loan of Rs. 150 Crore. Brief details of financial performance of DIAL during the last financial year are as under: During the Financial Year. The Company received Rs.to Airports Authority of India.85 Change 0. (GMR) NYSE After-Hours Snapshot: 07/07/2009 04:32 PM EDT 8.5 STOCK ANALYSIS General Maritime Corp. as per the terms of the Operation Maintenance and Development Agreement.200 Crore towards equity contributions as per the Shareholders Agreement.
m.00 High 0.00 Prior Volume 762.Last 8.52 (08/06/2008) 52-Week Low 6.85 Change 0.85 NYSE and Amex prices are delayed at least 20 minutes and Nasdaq prices are delayed at least 15 minutes.40 (03/09/2009) Prior Day's Close 8.0% Volume 762. Volume updates until 8:00 p. Real-Time Quotes Other Prices Day's .340 52-Week High 20.00 % Change 0.340 Open 0. ET.00 Low 0.
Germany Xetra Historical Quotes Closing prices since 1/2/1970. Stock Data 386.5 Latest Dividend 05/22/09 Latest Dividend 34% stock div. Last Stock Split 12/17/08 Date of Last Split 41.89 P/E Ratio 21.97 Outstanding (Mil) 35.U.64 Public Float (Mil) All data updated daily before market opens Source: Reuters Dow Jones Industry Group Center Marine Transportation Shares Pay Date of .74% Dividend Yield $0.S.16 Market Cap(Mil) 11.
59 1.20 4.53 114.50 280.) 22.130.32 383.55 49.30 151.29 0.75 Total Assets 6.615.73 19.43 102.97 635.36 194.08 375. cr.77 334.71 252.90 374.37 26.00 Cap.79 754.10 26.31 7.12 366.35 Net Profit 97.20 73.083.Sales Turnover 159.87 69.145.082.994.06 460.75 Market (Rs.06 66.1 Top 5 Competitors Last Price GMR Infra Lanco Infratech Unity Infraproj Pratibha Ind Atlanta Supreme Infra PBA Infra Ruchinfra 125.99 11.67 264.40 342.CHAP TER 5 5.23 - Comparison with Competitors .11 173.74 2.65 44.35 70.
81 Mar '09 16.26 0.91 0.18 141.06 20.57 469.00 224.00 1. Loans & Advances Deffered Credit Current Liabilities Provisions Total CL & Provisions 1.47 352.69 117.05 21.93 452.63 2.00 5.48 178.64 131.34 175.79 0.54 62.50 49.00 231.371.86 2.78 87.06 0.33 22.37 2.82 81.10 10.75 219.00 0.69 16.083.593.17 0.07 Sources Of Funds Total Share Capital Equity Share Capital Share Application Money Preference Share Capital Reserves Revaluation Reserves Networth Secured Loans Unsecured Loans Total Debt Total Liabilities 364.91 105.58 145.28 94.00 355.38 460.08 12.00 208.67 0.00 5.27 Gayatri Project Mar '08 257.37 13.15 884.00 21.56 167.44 0.00 44.00 235.86 0.69 0.55 155.42 162.71 71.15 42.18 6.06 0.45 Gayatri Project Mar '09 10.04 0.215.37 1.97 584.00 0.145.31 .437.30 23.00 2.604.373.00 0.10 0.353. Depreciation Net Block Capital Work in Progress Investments Inventories Sundry Debtors Cash and Bank Balance Total Current Assets Loans and Advances Fixed Deposits Total CA.06 1.00 107.18 10.13 0.42 56.13 364.68 0.71 1.in Rs.00 169.96 Lanco GMR Infra Infratech Mar '08 Mar '08 202.07 33.31 0.00 0.29 38.00 479.780. Cr.42 635.88 324.99 18.38 30.73 Application Of Funds Gross Block Less: Accum.00 0.653.38 9.00 179.31 0.324.33 0.00 2.44 4.42 1.11 Pratibha Ind Mar '09 158.Balance Sheet ------------------.79 225.22 338.240.48 388.79 219.11 14.98 552.37 0.95 2.31 828.35 279.06 Unity Infraproj Mar '08 78.00 279.01 307.16 310.27 0.78 17.84 176.73 205.81 38.00 342.64 246.10 350.19 127.10 227. ------------------Lanco Unity Pratibha GMR Infra Infratech Infraproj Ind Mar '08 Mar '08 Mar '08 13.73 57.00 4.23 65.86 433.00 0.91 457.78 1.02 127.08 0.03 0.11 631.603.12 253.21 504.00 1.
0 attachments Buy GMR Infra With Target Of Rs 205: Nirmal Bang Research-cum-broking house. Vasudeo is of the view that investors should sell the stock today to avoid loss. has recommended a buy call on GMR Infra with a short term target of Rs 205 in its June 10. 2009 research . Mr.60 on BSE.05:31 . Story . After . Buzzing Stocks... Stock Trading. at Rs 0.. .Neeta Aurora ...com has maintained 'Sell' rating on GMR Infrastructure stock to achieve a target that lies between Rs 142.06/16/2009 . . Featured.Analyst View Sell GMR Infra: Hitendra Vasudeo Stock market analyst Hitendra Vasudeo of stockmechanics.0 comments .30 million over previous year period.... Analyst View. and a low of Rs 45.60-Rs . Infrastructure Sector.
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