Business Standard
Monday, May 28, 2012
drived banner
drived banner
  Advanced Search
RSS
Content Guide
Follow us on  
||Companies & Industry||||||| 
 Section Home | News Now | Today's Paper | Q&A | People in the News | Industry News | Features | The Compass | Research & Analysis | Opinion | Corporate Results
Home > Companies & Industry Live Markets | Commodities
 

GMR Infra may infuse Rs 3,000 cr to part fund projects
Press Trust of India / Hyderabad May 31, 2011, 20:21 IST

GMR Infrastructure may pump in Rs 3,000 crore equity investments to part fund it's road and power projects in the next two years, according to a senior official of GMR Group.

The investments will be made into three road and four power projects, the official said.

"The company will have to invest around Rs 2,800 crore as its equity contribution for the four power projects, including 768 Mw project at Vemagiri with an investment of Rs 3,250 crore, 600 Mw Emco project with Rs 3,480 crore, 1,400 Mw project at Kamalanga in Orissa of Rs 6,460 crore and 1,370Mw project in Chattisgarh with an estimated investment of Rs 8,290 crore," the official said.

The three road projects required Rs 650 crore of equity investment and the company has already invested around Rs 450 crore. The Group recently raised funds from QIP and private equity and is expecting $150 million of private equity funds by June-end.

The Group received around $200 million on recently concluded divesting of InterGen stake and got another $200 million of private equity for aviation business recently.

GMR Infra has suffered a net loss of Rs 929.6 crore in FY11, due to a one time loss from the sale of its investment in the US-based power firm InterGen NV coupled with higher costs and losses at Delhi airport.

The company reported a growth of 26% in net revenue to Rs 5,773.8 crore and 14% rise in EDITDA (earnings before interest, tax, depreciation and amortisation) at Rs 1,555.5 crore for the year.

"The progress of implementation of all the projects across all the sectors is on schedule. The operations of all the assets continue to be encouraging," GMR Group Chairman GM Rao said in a statement.

"Though the divestment of Intergen has resulted in a one time and non-recurring loss of Rs 939 crore, it has released an equity capital of Rs 958 crore and would enable us to reinforce our focus and resources on more profitable Indian Assets. We would continue to emerge stronger," he added.

New Ipad Application :Business Standard's all new IPad App
Click here to download for free
Arrow Other Stories     
- Markets end flat
- Turbulence ahead for airlines despite oil price drop
- Weak rupee may bring cheer to NRIs, expats
- LIC buys PSU stocks, sells pvt sector blue-chips in Q4
- Banks may lower deposit rates as inflation eases: Report
  Read Business news in 
- Journey on, We are by Your Side. Click here to know more
- 2 Lac Apartments, 1 Lac House / Plots. Click here
- Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol.
- The Best Seller is Also the No. 1 in Mileage. Click here
- Watch The Film Here. Click here to know more..
- Leader in Passenger Car & Automobile Tyres. Click here
- 1 billion in saving for Unilever without any tangles.
- A Brand New Server at a Price That Fits Your Budget. Click here
- Learn How One City is Running on FOOD SCRAPS.
- One Partnership Endless Possibilities. Click here to know more
- Helping doctors detect diseases earlier, saving costs & extending lives.
- 36 Lakhs can get you a pool of Luxuries. Click here
- Which is the best plan for your daughter
- Check out the TRUE COLOURS of your Stocks, Now for FREE!
- One of the leading business schools in the world.Know More
Sorry, comments to this story are closed
Latest Messages
Table for Two
  Now available at Special price
  Rs.280/- Only

  Buy Now
BS POLL
UPA 2 has completed three years. How do you rate its performance?  Read the story
  Good
  Average
  Bad
Submit
Most Popular
Read
E-Mailed
Commented
   
- Renu Kohli: Rupee: depreciated tactics
- Mobile handset companies bet on Indian app makers
- RIL wants import-parity price for its gas
- Gold imports fall 32% on strict govt measures
- CBI arrests Jagan Andhra on alert
 
 More  
Tax Shastra
  Now available at Special price
  Rs. 360/- Only

  Buy Now
 
  Member Area Write to the Editor RSS Archives Advanced Search
  Subscribe to BS print product BS e-paper Newsletter Portfolio Tracker
  BS Products BS Hindi BS Motoring BS Books
Home | Markets & Investing | Companies & Industry | Banking & Finance | Economy & Policy | Opinion
Life & Leisure | Management & Marketing | Tech World | General News
About Us | Partner With Us | Code of Conduct | Careers | Advertise with us| Terms & Conditions | Disclaimer | Contact Us