GMR Infra shares surge 1.13% after winning Indonesia airport bid

25 Nov 2021 CW Team

In a message for GMR Airports Consortium Team, Angkasa Pura 2 (AP2), the state-owned enterprise and the bidding authority for the Medan Airport have notified that they have done the best and final evaluation process for the strategic partnership selection for the Medan Airport and have declared GMR Airports as the winning bidder.

GMR Airports and its wholly-owned subsidiary, GMR Airports International B.V, had offered the project as a consortium.

Medan is the fourth-largest urban region in the nation and is the capital of North Sumatra province. For this project, GMR Infrastructure will enter into a 49:51 partnership with AP2. The consortium will modify Kualanamu International Airport into the Western International hub of Indonesia.

The airport managed over 10 million passengers in 2018. The project scope comprises the operation, enhancement and enlargement of the airport over 25 years. Kualanamu International Airport is a working Airport with good cash flows. GMR Airports won the proposal for this high increase potential brownfield Airport, via a closely contested international competitive tender process and would partner with Angkasa Pura 2 (AP2). The letter of award is likely to be released in the coming few days, post-bid formalities while signing project deals before the end of the year.

On a consolidated basis, GMR Infrastructure registered a net loss of Rs 169.21 crore in Q2 September 2021 compared to a net loss of Rs 750.03 crore in Q2 September last year. Net sales grew 49.4% to Rs 1,791.32 crore in Q2 September this year compared to Q2 September 2020.

GMR Infrastructure is a prominent global infrastructure conglomerate with interests in energy, airport, transportation and urban infrastructure.

Image Source

Also read: GMR Infrastructure records net consolidated loss of Rs 169.21 cr in Q2

Shares of GMR Infrastructure surged 1.13% to Rs 40.25 after its subsidiary GMR Airports (GAL), was declared the leading bidder for the development and operation of Kualanamu International Airport in Medan, Indonesia. In a message for GMR Airports Consortium Team, Angkasa Pura 2 (AP2), the state-owned enterprise and the bidding authority for the Medan Airport have notified that they have done the best and final evaluation process for the strategic partnership selection for the Medan Airport and have declared GMR Airports as the winning bidder. GMR Airports and its wholly-owned subsidiary, GMR Airports International B.V, had offered the project as a consortium. Medan is the fourth-largest urban region in the nation and is the capital of North Sumatra province. For this project, GMR Infrastructure will enter into a 49:51 partnership with AP2. The consortium will modify Kualanamu International Airport into the Western International hub of Indonesia. The airport managed over 10 million passengers in 2018. The project scope comprises the operation, enhancement and enlargement of the airport over 25 years. Kualanamu International Airport is a working Airport with good cash flows. GMR Airports won the proposal for this high increase potential brownfield Airport, via a closely contested international competitive tender process and would partner with Angkasa Pura 2 (AP2). The letter of award is likely to be released in the coming few days, post-bid formalities while signing project deals before the end of the year. On a consolidated basis, GMR Infrastructure registered a net loss of Rs 169.21 crore in Q2 September 2021 compared to a net loss of Rs 750.03 crore in Q2 September last year. Net sales grew 49.4% to Rs 1,791.32 crore in Q2 September this year compared to Q2 September 2020. GMR Infrastructure is a prominent global infrastructure conglomerate with interests in energy, airport, transportation and urban infrastructure. Image Source Also read: GMR Infrastructure records net consolidated loss of Rs 169.21 cr in Q2

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Real Estate

07 Jul 2026

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Infrastructure Urban

07 Jul 2026

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..