GMR Group

Hopes for significant reduction in its pledged shares upon completion of debt deal

Dispute dates back to 2022 when the Supreme Court upheld a Bombay High Court ruling in favour of GMR Group to operate and manage Nagpur's airport

GMR Airports is in the process of raising its stake in Delhi International Airport by acquiring the 10 per cent stake owned by Germany's Fraport

In 2020, Maharashtra govt cancelled the tender process that had awarded the contract for the upgradation and operation of the Nagpur airport to GMR Group. GMR Group has challenged this cancellation

Delhi and NCR (National Capital Region) received incessant rainfall accompanied by thunderstorms and lightning beginning in the early hours of Friday

GMR Power shares were locked in the 5-per cent upper circuit for a fourth straight day, up 5% at Rs 94.40. This was also the stock's new record high

The Delhi airport saw diversions of at least three flights on Wednesday morning due to bad weather, according to an official. Several flights were also delayed at the Indira Gandhi International Airport in the national capital, he said. A total of five flights were diverted to various destinations between 9.30 pm on Tuesday and 7 am on Wednesday, the official said. Out of these, three were diverted to Jaipur in Rajasthan and one each to Ahmedabad in Gujarat and Mumbai in Maharashtra, the official said on Wednesday. Dense fog enveloped several parts of the national capital resulting in low visibility conditions on Wednesday morning.

GMR Group and IndiGo Airlines on Thursday announced a strategic collaboration forming a digital consortium aimed at reshaping the landscape of the Indian aviation industry. A press release from GMR said the partnership brings together the diverse strengths of GMR's infrastructure expertise and IndiGo Airlines' innovative approach to air travel. The consortium will focus on deploying cutting-edge technologies to enhance operational efficiency, passenger experiences, and overall industry sustainability. While GMR Group and Indigo will be the founding partners of this industry consortium, the initiative aims to collaborate with multiple stakeholders of the aviation ecosystem to drive the key objectives of driving technological innovation, enhancing passenger services, achieving operational excellence, and embracing sustainable practices to minimize environmental impact. The key objectives of the consortium includes technological innovation, enhanced passenger services and operational .

GMR Hyderabad International Airport Ltd (GHIAL) on Wednesday announced the launch of direct flights to Frankfurt, Germany in partnership with Lufthansa Airlines. With five weekly departures (Monday, Tuesday, Wednesday, Thursday, and Saturday), flight LH753 will depart from Hyderabad at 01:55 hours and arrive in Frankfurt at 07:05 hours. The return flight LH752 will depart from Frankfurt at 10:55 hours and arrive in Hyderabad at 23:55 hours, a release from GHIAL said. GMR Hyderabad International Airport Ltd CEO Pradeep Panicker said, "This connectivity will benefit travellers visiting Frankfurt as a transit point or for leisure trips and would open up multiple destinations in Europe, USA, Canada, and South America via Frankfurt." Lufthansa Group (South Asia) Senior Director George Ettiyil said, As we launch Hyderabad-Frankfurt service, our capacity to India has increased by 14 per cent (relative to 2019), making this country the fastest growing major market for Lufthansa.

Firms that submitted bids were the Manila International Airport Consortium, Asian Airport Consortium, GMR Airports Consortium, and SMC SAP & Co Consortium

The group's non-airport entity is still work in progress in terms of stronger liquidity and asset exits

The project cost would be funded by Rs 3,215 crore debt, equity and equity-linked instruments of Rs 1,377 crore, and a grant of Rs 135 crore by the Andhra Pradesh government

GMR Group holds the airport business under the airport holding company, GMR Airports Ltd (GAL)

Shares of GMR Power and Urban Infra surged 10% to Rs 46.29 on the BSE in Monday's intra-day trade and have zoomed 39% in the past four trading days

Earlier on September 3, GMR Group had received Letter of Award (LOA) worth Rs 5,123 crore for smart metering project from Purvanchal Vidyut Vitran Nigam Limited.

GMR group, the operator of Delhi, Hyderabad and Mopa airports, on Friday said it is actively looking for new investment opportunities in Greece, where it is already developing a greenfield airport in partnership with GEK TERNA. The announcement from the group came days after Prime Minister Narendra Modi's recent visit to the European nation, the first by an Indian Prime Minister in 40 years. GMR Group's Business Chairman for energy and international airports Srinivas Bommidala was a part of the business leaders luncheon hosted by the Greek Prime Minister during the visit, according to a GMR statement. "GMR Group is already developing a greenfield airport at Crete in Greece in partnership with GEK TERNA. The Group is actively looking for new investment opportunities in Greece, which serves as a gateway to Europe for the Indians," the company said. Greece has demonstrated a remarkable commitment to foreign investors like GMR Group from India, he said, adding that the Greek government

GMR Power and Urban Infra Ltd on Wednesday posted a net loss of Rs 217 crore for the June quarter. It had clocked a net profit of Rs 201 crore in the year-ago period, the company said in a regulatory filing. The company said its total income increased to Rs 1,190 crore in the first quarter of the current fiscal from Rs 1,163 crore a year ago.

Terminal 1 is currently under major renovation and may begin international services at the Indira Gandhi International Airport in Delhi

The GMR Group (co-owners of Delhi Capitals) and Microsoft chairman & CEO Satya Nadella and GMR Group led consortium have bagged the rights to own and operate a team in Major League Cricket (MLC), a new T20 franchise league in the USA, which is scheduled to be launched this July.

The GMR Group which is in the process of developing an international airport at Bhogapuram near here will be investing Rs 5,000 crore on the aerodrome in the first phase. Speaking at the inaugural session of the Global Investors Summit 2023 being held here, GM Rao, chairman of GMR Group said the first phase of the airport will be developed to serve six million passengers per annum. "We will be developing Bhogapuram Airport with the first phase serving six million passengers and an ultimate capacity of 40 million passenger (per annum). The first phase investment will be to the tune of Rs 5,000 crore," Rao said. The airport will have state-of-the-art cargo facilities that will cater to exports and aerotropolis and airport city around the airport that will consist of an industrial zone, airspace zone and education and healthcare zones, he said. Rao further said the airport would replicate the success of Hyderabad aerodrome which will help in the transformation of Visakhapatnam city