Andhra Pradesh government signs Bhogapuram airport deal with GMR
AMRAVATI: The Andhra Pradesh government and GMR group have signed an agreement to build an international airport at Bhogapuram in the state. The greenfield airport project to come up at Bhogapuram near Visakhapatnam, is being developed as a crucial gateway to the northern part of Andhra Pradesh. The agreement was inked on Friday in the […]
GMR’s loss widens to Rs 457 crore in Q2
NEW DELHI: GMR Infrastructure Limiteds consolidated net loss for the quarter ended September 30 widened to Rs 457 crore against Rs 334 crore in the July- September period last fiscal, a filing with the bourses said Thursday night. The consolidated gross revenues for the quarter under discussion was Rs 2,018 crore. It was Rs 1,904 […]
Amazon signs pact with GMR to expand its biggest fulfilment centre in India
NEW DELHI: E-commerce giant Amazon.in on Thursday said it has signed a lease with GMR Hyderabad Airport City to expand its largest Fulfilment Centre (FC) in the country. The existing warehouse is spread across 400,000 sq ft and will now be expanded by another 180,000 sq ft, a statement said. “With this investment, Amazon.in has […]
Maldives decides not to press GMR for taxes over airport compensation
NEW DELHI: In a breather to the GMR Group, the Maldivian government has decided not to press for income tax and fines of over $20 million from the infra major on the compensation it received from the island nation for the premature termination of Male International Airport contract. In a statement issued on May 23, […]
GMR to raise USD 350 million via bonds for Delhi airport
NEW DELHI: Delhi International Airport Ltd, a GMR group company, plans to raise USD 350 million through 10 year senior secured bonds for the airport expansion programme and Moody’s has assigned a Ba2 rating for the proposed bonds. Proceeds from the proposed bond would be used to help fund a major expansion to increase the […]
GMR Hyderabad International Airport divests stake in flight training arm
NEW DELHI: GMR Infrastructure on Monday said its subsidiary GMR Hyderabad International Airport Ltd (GHIAL) has fully divested its stake in its flight training arm to a third party for a token consideration. The company did not disclose what that token consideration was. “GHIAL…has divested its 100 per cent stake in its subsidiary namely Asia […]