Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Stock Report

| More

DIAL awards the Commercial Development Rights at Aerocity, Delhi to a consortium led by M/s Bharti Realty

Posted On: 2019-03-20 21:35:33

Delhi International Airports Limited (DIAL), a GMR led consortium announced that it has awarded the right to design, develop, finance, construct, operate, manage and maintain a Commercial Development Project at Gateway and Downtown Districts of Aerocity with maximum permissible FSI of approx 9 Lac Sqm (~4.5 Lac Sqm . for Phase I & additional ~4.5 Lac Sqm in Phase II available as on option to be exercised within a 5-year time horizon) at Indira Gandhi International Airport to a consortium led by Bharti Realty Ltd, selected through a transparent and competitive bidding process. The competitive bidding process saw strong response from some of the country's leading commercial development players.

DIAL initiated the 2nd phase of its Airport Land Development at Delhi Airport popularly known as Aerocity, through two new precincts- Gateway and Downtown Districts- planned next to now successfully operational Hospitality District (Phase 1). Existing Hospitality, Commercial and Retail Developments at Hospitality district have over past few years established themselves as one of the most coveted addresses in the Capital city for leading global brands.

Building on its legacy of delivering path-breaking world class infrastructure developments in nation's service, GMR led DIAL has designed Aerocity on international design principles to ensure it is one of the leading global business districts. It creates the perfect platform which will redefine India's work culture, bolstered by unique benefits such as superior quality of life, unparalleled connectivity and excellent work-life balance. Aerocity is one of its kind master planned mixed use development which will have a balance of commercial, social infra, and leisure formats. The development shall encompass OMDA compliant commercial areas consistent with international trends and standards.

This development will add tremendous value to the existing Delhi Airport ecosystem and give a much needed impetus to its upcoming expansion plans that was unveiled a few months back.

Commenting on the bid award, Mr. GBS Raju, Chairman Airports and Managing Director-DIAL, said : "We are very pleased with the way the first phase of development marked by the Hospitality district has been able to provide marquee International brands a location of unparalleled convenience and comfort and while doing so proved to be a great business opportunity for our Hotel development partners who believed in this story for last 10 years.

The new price discovery through the current bid process is a testimony to the rise of Aerocity as the new nerve center of country's capital. With the development of Commercial Projects, DIAL shall move one step closer to its vision of creating on Integrated Commercial Business District for the growth of Airport and the associated community. This will benefit all our stakeholders including AAI and greatly help in funding the DIAL expansion."

Mr. Aman Kapoor, CEO - Airport Land Development for GMR Airports added, "This transaction creates a platform that shall provide opportunities for Indio's corporate world to have a premium and convenient located New Delhi Address and benefit from the Airport ecosystem and an excellent multi-modal transport connectivity with world class infrastructure of Aerocity."

Shares of GMR INFRASTRUCTURE LTD. was last trading in BSE at Rs.17.05 as compared to the previous close of Rs. 17.4. The total number of shares traded during the day was 552334 in over 498 trades.

The stock hit an intraday high of Rs. 17.55 and intraday low of 16.95. The net turnover during the day was Rs. 9446326.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

Garden Reach Shipbuilders & Engineers Ltd board to consider Q1 results on Aug 9, 2019

Amara Raja Batteries Ltd Q1 FY20 net profit at Rs. 140.91 crores

Cipla Ltd gets 7 observations from USFDA for API facility in Bengaluru

Kirloskar Pneumatic Co. Ltd. Q1 net profit at Rs. 3.46 crore

US FDA completes inspection at Strides' flagship facility in Bangalore

CG bags contract for 400 MW wind farm in Saudi Arabia

NCL Industries Ltd reports 4% growth in cement production in Q1 FY20

CRISIL reaffirms rating of Edelweiss Financial Services Ltd's short term borrowing

IndiGo reports PAT of INR 12,031 million and EBITDAR of INR 27,785 million in Q1 FY20

Brookfield to invest Rs. 25,215 crore in units of RIL's tower infrastructure trust

Bandhan Bank Ltd Q1 net profit rises to Rs. 701.14 crores

Mahindra CIE Automotive Ltd Q2 CY19 PAT drops to Rs. 126.22 crores

Bhageria Industries Ltd reports Q1 net profit of Rs. 17.01 crore

REC Limited launches US$ 650 Million 3.375% Notes

IOL Chemicals & Pharmaceuticals Ltd prepays term loan of Rs. 15.39 crore

McNally Bharat Engineering Company Ltd bags order from NLC India Ltd

RIL Q1 consolidated net profit at Rs. 10141 crores

L&T Technology Services Q1FY20 revenue rises on large deal wins

Dabur India Q1 Consolidated Net Profit surges 10.3%

Bhumika Group partners with Shoppers Stop Ltd. at Urban Square, Udaipur

HPL Electric partners with Haryana Steelers for Pro Kabaddi League Season 7

ICICI Lombard General Insurance Q1 FY20 PAT up 7.1% YoY

L&T Technology Services Ltd Q1 consolidated up at Rs. 203.9 crores

Indian Energy Exchange Ltd board to announce 1st quarter results on July 31, 2019

L&T Finance Holdings Ltd Q1 consolidated PAT at Rs. 548.79 crores

IndiaMART recognized as 'Top 5 Coding Powerhouse in India'

PNB to consider raising Rs. 5000 crore

Hindustan Zinc Ltd Q1 net profit slips to Rs. 1765 crores

AMAL Ltd Q1 FY2019-20 net profit at Rs. 2.99 crore

Phillips Carbon Black Ltd posts net profit of Rs. 66.82 crores in Q1 FY20

JM Financial Ltd Q1 FY20 consolidated PAT at Rs.127.29 crores

Sintex Plastics Technology Ltd board to proceed with offer received for French arm

BEML Ltd board to announce first quarter results on Aug 2, 2019

Dabur India Ltd posts consolidated PAT of Rs. 363.81 crores in Q1 FY20

USFDA inspects Cadila Healthcare Ltd's Baddi facility, no observation issued

Apollo Tyres Ltd board to consider Q1 results on July 31, 2019

Dhanuka Agritech Ltd Q1 net profit falls to Rs. 14.67 crores

Dr. Reddy's launches OTC store brand equivalent of Allegra-D®

RBL Bank Ltd reports consolidated PAT of Rs. 265.42 crores in Q1 FY20

Zydus' Nesher Pharmaceuticals receives final approval from the USFDA for Dextroamphetamine Saccharate, Amphetamine Aspartate Monohydrate, Dextroamphetamine Sulfate, and Amphetamine Sulfate ER Capsules

CCEA approves 2880 MW Dibang Multipurpose Project in Arunachal Pradesh Rs. 1600 crore expenditure

Bannari Amman Sugars Ltd board to approve 1st quarter results on Aug 14, 2019

Granules India Ltd board to announce 1st interim dividend, Q1 results on July 30, 2019

Larsen & Toubro Infotech Ltd announces Q1 FY20 results

STL delivers 63% growth, sets up FY20 for large data network innovations

Rallis India consolidated Q1 PAT at Rs 68 Crores, up 23.8% yoy

Reliance Power updates on rating downgrade by ICRA

Deepak Fertiliser sells stake in Desai Fruits

Vikas Multicorp Ltd assigned IVR BBB issuer rating

ABM Knowledgeware Ltd bags Rs. 14 crore contract under Thane Smart City Project in Maharashtra

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019