GMR to invest ₹350 crore to set up business park in Hyderabad


GMR to invest ₹350 crore to set up business park in Hyderabad

GMR Infrastructure Ltd plans to invest around350 crore to set up its first office park spread over 1 million sqft in Hyderabad in the next 3-4 years as part of its larger land monetisation plan, said a top company executive.

The New-Delhi based group, which operates Delhi and Hyderabad airports apart from other infrastructure businesses in India, has been looking to monetise several non-core assets including land parcels to bring down its mounting debt.

As of March 31, 2018, GMR Infrastructure’s total debt stood at around 20,000 crore. Following investment of around 8000 crore into the airport business in March this year by Tata Group and two foreign investment firms, GMR’s outstanding debt is likely to fell to about 12,000 crore, Sushil Kumar Modi, GMR’s group chief financial officer (strategic finance) had said.

Read More

Leave a Reply

Your email address will not be published.