Jacks of all trades now into airports too

Taking off, finally: The GMR Group is already building the new airport in Hyderabad.

This is the culmination of Chandrababu Naidu's dream, in a way he couldn't have imagined and in a field very different from his beloved IT.

Two Hyderabad-based companies "" GMR and GVK "" appear set to dominate the national infrastructure scene by modernising the airports in Delhi and Mumbai, respectively.

The GMR-Fraport consortium, led by the Rs 2,500 crore GMR Group, was the only one to qualify on the technical parameters, obtaining the highest marks in management and development capabilities.

The consortium bid for both Delhi and Mumbai airports.

The GMR Group "" with interests in energy, transport and manufacturing "" is already building the new airport in Hyderabad.

Its airport partner Fraport, which manages and owns the Frankfurt International airport, is one of the leading companies in the airport development business.

G M Rao, a mechanical engineer by profession, is the group's chairman. He has been at the helm since its inception in 1978.

Rao recognised the business opportunities in starting a jute yarn manufacturing business in his hometown of Rajam, Andhra Pradesh. This venture was a success and enabled him to diversify into ferro-alloys and subsequently, sugar.

Between 1980 and 1990, the GMR Group entered banking and played a key role in the transformation of Vysya Bank into a new generation bank.

As for the other successful bidder, the GVK-ACSA is the only consortium to bid for only one of the two airports, the one in Mumbai.

The GVK Group, which has interests in transport, power, roads and urban infrastructure development, is currently developing some large power projects as well as major road projects across the country. ACSA, its partner, operates major airports in South Africa including those at Johannesburg and Capetown.

The GVK Group, headed by chairman G V Krishna Reddy, also has interests in contract research, hotels and financial services.

The company's GVK Biosceinces conducts research in pharma and medical chemistry.

The GVK story started in the 1960s with the group commissioning the Nagarjunasagar Dam, world's largest masonry dam.