Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
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 feedback@equitybulls.com





Other Headlines:

TATA Steel Ltd reports consolidated Q4 net profit of Rs. 2295.25 crore

Biocon Ltd posts net profit of Rs. 213.7 crore in Q4 FY 2018-19

Rallis India Ltd Q4 FY 2018-19 consolidated PAT slumps

Vesuvius India Ltd posts Q1 CY2019 net profit of Rs. 21.63 crore

MCX Q4 consolidated net profit jumps to Rs. 60.95 crore

Apcotex Industries Ltd Q4 FY19 net profit surges to Rs. 15.27 crore

AXIS Bank reports PAT of Rs. 1505.06 crores in Q4 FY 2018-19

GHCL Ltd reports Q4 net profit climbs to Rs. 118.55 crore

Cyient Ltd reports consolidated PAT of Rs. 176 crores in Q4 FY19

Oriental Hotels Ltd posts loss in Q4 FY19

Mahindra Logistics Ltd board to announce dividend, FY 19 results on May 7, 2019

Nestle India Ltd board declares dividend of Rs. 23

Wendt India Ltd board recommends final dividend of Rs. 15

Oriental Hotels Ltd approves fund raising proposal

Maruti Suzuki India Ltd Board recommends Final Dividend of Rs. 80 for 2018-19

Bank of Baroda approves fresh issue of Rs. 5042 crore to Government of India

Cyient Ltd Board approves Dividend of Rs. 10

TV Today Network Ltd board to announce Q4, FY19 results on May 20, 2019

GHCL Ltd Board recommends Dividend of Rs. 5 for 2018-19

Capri Global Capital Limited board to consider dividend, Q4, FY19 results on May 3, 2019

Lakshmi Electrical Control Systems Ltd board to approve dividend, Q4, FY19 results on May 29, 2019

Oriental Hotels Ltd board recommends dividend of Rs. 0.50 for 2018-19

Artson Engineering Ltd board to announce fourth quarter, FY19 results on May 8, 2019

Hindustan Copper Ltd approves fund raising of Rs. 1400 crore

Vardhman Special Steels Ltd calls for board meeting on May 4, 2019

SBI board to announce Q4, FY19 results on May 10, 2019

Indiabulls Ventures Ltd Board declares Interim Dividend of Rs. 1 for 2019-20

Maruti Suzuki India Ltd announces financial results for Q4 and full year FY 2018-19

Shree Renuka Sugars Ltd board to announce Q4, FY19 results on May 8, 2019

Vipul Ltd Board to consider Dividend on May 30, 2019

PTL Enterprises Ltd board to consider final dividend, Q4, FY19 results on May 9, 2019

Borosil Glass Works Ltd calls for board meeting on May 13, 2019

Gujarat Pipavav Port Ltd board to announce FY19 results on May 15, 2019

Gujarat Borosil Ltd board to approve Q4, FY19 results on May 7, 2019

Reliance Nippon Life Insurance Company Ltd announces FY19 results

Diamines & Chemicals Ltd board to approve dividend, Q4, FY19 results on May 8, 2019

Lloyds Metals and Energy Ltd reports QoQ jump in PAT to Rs. 7.82 crore

Wendt India Ltd Q4 profit plunges

Indiabulls Ventures Ltd Q4 consolidated PAT at Rs. 111.41 crore

Maruti Suzuki India Ltd posts lower net profit of Rs. 7650.6 crore in FY 2018-19

CRISIL ratings on the bank facilities of Balrampur Chini Mills Limited

Aditya Birla Money Ltd reports net profit of Rs. 9.99 crore in FY 2018-19

Zydus receives final approval from the USFDA for Leflunomide Tablets USP

Trigyn Technologies Limited updates on contract with UN

L&T Finance Holdings partners with Apis Partners for investment in L&T IDF

Blue Dart Express Ltd Board to consider FY19 results & Dividend on May 16, 2019

Rishiroop Ltd calls for board meeting on May 11, 2019

Hatsun Agro Product Ltd board to announce dividend, FY19 results on May 2, 2019

ICRA Ltd board to consider Q4, FY19 results on May 9, 2019

Pitti Engineering Ltd board to approve Q4, FY19 results on May 6, 2019







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

disclaimer copyright © 2005 - 2019