Introduction

Headquartered in New Delhi, GMR Group is one of India’s leading Infrastructure companies with business interests across Airports, Energy, Transportation & Urban Infrastructure. GMR Infrastructure Limited (“GIL”), the flagship entity of the group, which houses all the assets is listed on Bombay Stock Exchange & National Stock Exchange.Expertise in development and management of projects within individual sectors that GMR operates in on account of highly experienced professionals involved in managing respective verticals.

GMR Group is engaged in infrastructure development. Its portfolio mainly includes:

Airports

Portfolio of world class Airport assets:

9 Airport assets under operations or various stages of development

Operational:

  • Delhi International Airport, India
  • Hyderabad International Airport, India
  • Mactan-Cebu International Airport, Philippines
  • Bidar Airport, India

Under Development:

  • Goa International Airport (Mopa), India
  • Bhogapuram Airport, India
  • Nagpur Airport, India*
  • Crete International Airport, Greece
  • Medan Airport, Indonesia

* Bombay High Court quashed the award cancellation letter by MIHAN and directed MIHAN to sign Concession Agreement

Energy

Diversified portfolio of Energy business:

~4.5 GW of total generation capacity, over 2.8 GW commissioned

Coal Assets:

  • Kamalanga (1050MW)
  • Warora (600MW)

Hydro Assets:

  • Bajoli Holi (180 MW)

Gas based plants:

  • Rajahmundry (768 MW)
  • Vemagiri (388 MW)

Other Assets:

  • 1.4GW Hydro power capacity (under development)
  • ~28MW of operational renewables (solar + wind) capacity

Coal Mines: 1 bn Tons+ Coal reserves, total resources ~2.9 bn tons

  • PT Golden Energy Mines (PT GEMS), Indonesia

Transportation & Urban
Infrastructure

Diversified portfolio of Transport & Urban Infra projects

4 nos. of highway projects covering ~350 km

  • 2 BOT (Toll) Projects (216 km)
  • 2 Annuity Projects (133 km)

~1,900 acres of land at strategic locations, integrated industrial Development

  • Krishnagiri Special Investment Region, India

Dedicated Freight Corridor Project: 417 km of railway stretch getting constructed; part of the eastern corridor

  • Mughalsarai to New Karchana (UP, India) - 181 km
  • New Karchana to New Bhaupur (UP, India) - 236 km

Key Asset Highlights

  • Airports
  • Energy
  • Transportation & Urban Infrastructure
  • Construction of Delhi (DIAL) and Hyderabad (GHIAL), best-in-class airports in India, has established GMR as one of the leading developer firms in the airports sector & India’s largest Airport Operator
  • GMR – Megawide consortium (40:60) was awarded the Mactan-Cebu International Airport rehabilitation, expansion and operation for a 25-year concession period
  • GMR was awarded North Goa’s Greenfield International Airport at Mopa for a concession period of 40 years, extendable by 20 years
  • GMR was awarded Greenfield Heraklion Airport, in Crete, Greece for a concession period of 35 years (including construction period of 5 years)
  • GMR was awarded Greenfield Heraklion Airport, in Crete, Greece for a concession period of 35 years (including construction period of 5 years)
  • GMR signed the concession agreement for the development and operation of a Greenfield international airport at Bhogapuram in Andhra Pradesh for a concession period of 40 years, extendable by additional 20 years
  • Bombay High Court directed MIHAN to take all steps in terms of the Request for Proposal conditions, including signing of a Concession Agreement for the Nagpur Airport
  • GMR Airport consortium emerged as the winning bidder for the development and operation of Kualanamu International Airport in Medan, Indonesia
  • GMR-Megawide consortium had won the Clark International Airport’s EPC project for construction of new terminal building of Clark International airport, Philippines, which was successfully constructed and handed over ahead of schedule
  • Strong execution track record
  • Key thermal assets performing at healthy PLF; steady improvement over years
    • Substantially Contracted Power Supply: Power Offtake is contracted through long term PPAs with State Electricity Boards
    • Strong Fuel Linkage: Robust fuel supply chain with confirmed linkage from Coal India
    • Improving PLF at asset level
  • Hydro assets to add to profitability
    • Bajoli Holi is near commissioning - 99% completed; All 3 units are already tied up under long term PPA
  • Gas based plants – encouraging government outlook on gas supply
    • Visibility over gas supply with ramp-up in gas production at ONGC’s and RIL’s gas fields
    • Well suited for round-the-clock clean energy by bundling with renewable which has received strong government focus recently
  • Coal mine (PT GEMS) is showing robust performance
    • 17 mm ton sales, $206 mn EBITDA in H1CY21
    • Paid record dividend of $180 mn in H1CY21. Subsequently, paid dividend of $60 mn in August 2021

GMR is having presence in Highways business through 4 operational projects

  • 2 Toll Projects (216 kms) - GMR Hyderabad Vijayawada Expressways (181 kms) & GMR Ambala Chandigarh Expressways (35 kms)
  • 2 Annuity Projects (133 kms) - GMR Pochanpalli Expressways (103 kms) & GMR Chennai Outer Ring Road (30 kms)

Krishnagiri Special Investment Region (~1900 Acres) in Tamilnadu, India is a greenfield, state of the art, large scale integrated, multi product industrial project

  • ~300 acres under sale to an Indian Multinational
  • ~166 acres under sale to an agency of Tamil Nadu Govt
  • ~ 259 acres under discussion for sale to an agency of Tamil Nadu Govt.
  • Next phase of development being planned for ~270 acres under Joint Venture with TIDCO
  • Industrial cluster catering to electronics, automobile, logistics, engineering and aerospace sectors

Dedicated Freight Corridor Project: GMR along with the partner SEW Infra has been executing contract to construct a part of the eastern corridor:

  • Mughalsarai to New Karchana (UP) - 181 Kms
  • New Karchana to New Bhaupur (UP) - 236 Kms
  • Construction work is picking up pace - ~76% of package 201 and ~89% of package 202 completed