GMR Airports Infrastructure Ltd
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BSE Code:
532754
NSE Code:
GMRINFRA
Business Profile
Business Profile
GMR Infrastructure (GMR) is the holding company of the GMR group. It is mainly engaged in the development of power and infrastructure projects. The company has an asset base of over Rs. 25,000 million, which includes power plants in Mangalore in Karnataka and Vemagiri in Andhra Pradesh which it wholly owns and Chennai power plant where it holds 51%.
GMR has been awarded a hydro electric power project in Uttaranchal. It is also looking at entering the power trading and distribution business. The company is involved in two airport development projects for Delhi and Hyderabad airports. GMR has experience in road development, where it has worked on six road development projects. The company had come out with an IPO in August 2006.
Financials
The company disclosed a substantial rise in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company rose 42.03% to Rs 222.70 million from Rs 156.80 million in the same quarter last year. Net sales for the quarter rose 2.09 times to Rs 374.50 million, while total income for the quarter jumped 68.31% to Rs 396.20 million, when compared with the prior year period. It posted earnings of Rs 0.12 a share during the quarter, registering 33.33% growth over previous year period.
Recent Developments
27-FEB-09
The company`s arm , GMR Hyderabad International, and MAS Aerospace Engineering (MAE), a wholly-owned subsidiary of Malaysia Airlines sealed an agreement to set up a 50:50 joint venture (JV) Airframe Maintenance, Repair and Overhaul (MRO) company in Hyderabad.
25-FEB-09
The company announced that its 100% subsidiary company GMR Energy (GEL), through its subsidiaries, acquired 100% ownership interest of PT Barasentosa Lestari (PT BSL), a limited liability company of Indonesia on Feb. 24, 2009.
20-FEB-09
The company announced that GMR Holdings (P) (GHPL), promoter and holding company of GMR Infrastructure had purchased 3,05,319 equity shares of Rs 2 each on Feb. 16, 2009 through open market purchase in normal segment on the stock exchanges.
12-FEB-09
The company has completed the 58 km Farukhnagar-Jadcherla Highway project, its second highway project in Andhra Pradesh and has commenced commercial operations on the highway.
Future Plans
The company has major expansion plans for the future. In the power sector, GMR plans to enter the power transmission business. It is also planning to supply power upto 700 MW to Haryana from its proposed 1,000 MW power generation project in Orissa. GMR has also planned a coal pit head project in Dhenkanal, on which the construction is expected to start by the end of 2007 and be completed by 2011.