For Quick Alerts
Subscribe Now  
For Quick Alerts
For Daily Alerts

GMR writes off Rs 450 cr on some global coal and airport assets

By Religare

Bangalore based GMR Infrastructure Ltd, as part of its 'asset light, asset right' strategy, has written off global assets including coal mines and airport worth Rs 453 crore.

The company said it wrote off Rs 251 crore on account of impairment (reduction in company's stated capital) of assets in its South Africa-based coal mine subsidiary Homeland Energy Group, and another Rs 202 crore after it was forced out of the Male airport project.


GMR has locked horns with Maldivian government after it was forced out of USD 500 million Male airport project, seeking compensation of USD 800 million through legal proceedings in Singapore court.

The company has also been actively offloading non-core assets during the past six months as it sold 74 per cent stake in a highway project and 70 per cent stake in a power project in Singapore.

Read more about: gmr infrastructure
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more