Date:26/07/2006 URL: http://www.thehindubusinessline.com/2006/07/26/stories/2006072605051300.htm

Back Non-aeronautical projects: GMR Infra confident of gains

Our Bureau

Hyderabad , July 25

GMR Infrastructure is confident that thenon-aeronautical activities in and around the various airports,whichit is developing, will generate a sizeable stream of revenues.

The non-aeronautical activities would include advertising fee, lease rental from retail and commercial space, Mr B.V.N. Rao, Managing Director of GMR Power Corporation and Director of GMR Infrastructure, said.

Besides, the new airport projects at Hyderabad and New Delhiwould fuel real estate development in the vicinity. He, however, refused to give a prospective break-up of revenues from aeronautic and non-aeronautic streams.

Mr Rao was addressing a press conference here on Tuesday to announce the public issue. The issue offers 3.86 crore shares of Rs 10 each. The price band has been fixed at Rs 210 to Rs 250 a share. The issue will open on July 31 and close on August 4.

Mr S. K. Kulkarni, General Manager (Corporate Planning), and Mr Prashant Shetty of SSKI Corporate Finance, defended the price band, saying it was fixed keeping in mind the market sentiments. Speaking on the company's plans, he said it was looking at the unfolding opportunities in Kolkata and Chennai for airport development.