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Focus: GMR Infrastructure makes profits in India

24-Oct-2006
Airport Code [HYD]  View More HYDERABAD News
Focus: GMR Infrastructure makes profits in India
GMR Infrastructure has emerged as Indias most influential airport developer.

The company reported a 57% year-on-year increase in net profit in the three months ended 30-Sep-06, while revenues rose 41%. GMR has been following the public private partnership (PPP) model to build a portfolio of high quality airport assets that include New Delhi and the greenfield Hyderabad airport.

The company stated that the opportunity at Delhi is potentially large and announced plans to upscale its investments towards Phase I of the airports expansion project. Details of Delhis recently submitted Master Plan include:

  • Four storey integrated international and domestic passenger terminal, to be completed before the Commonwealth Games in 2010, with Phase I capacity of 35 million passengers p/a, expanding to 80 million p/a by 2025;
  • Delhi Metro rail link to new terminal, also reportedly considering commencing operations of a check-in facility at Connaught Place train station in the central business district of Delhi;
  • Two additional runways, one to be completed by Mar-08.

Meanwhile, GMR announced plans on 24-Oct-06 to invest an additional USD115.7 million, to be funded by debt, in Hyderabad International Airports Phase I to expand the airports initial capacity of 7 million passengers p/a to 12 million. The funds would be used to construct additional aircraft parking stands, rapid exit taxiways and a full-length parallel taxiway. Also included are additional airline office spaces, additional cargo terminal space and additional car parking facilities. GMR announced construction at Hyderabad will be completed by Nov-07 and open by Mar-08.

Meanwhile, Hyderabad Airport Ltd. announced it is considering a 20 km dedicated railway line linking Hyderabad with the new airport. With the Ministry of Civil Aviation considering the PPP model for the modernisation of Chennai Airport, as well as inviting private sector involvement in the modernisation of 35 non-metro airports, GMR Infrastructure will certainly be expected to build on its success and keep growing its airport portfolio in India.

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