G for Giant, G for GVK...

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Infrastructure development is an area that many are focussing on. And they’re doing well!

As passengers disembark at the international airport in Mumbai, their expressions of amazement are understandable. What else can be expected when you stand witness to the complete metamorphosis of what we called a once grimy and outdated airport, which was supposedly international! And a glance is sufficient to shot out the success of the project that GVK undertook during the past year for you can’t miss feeling like you have arrived at a top-class international airport. Today, passengers flying into the Mumbai airport can enjoy better equipped staff and modern amenities – including free wi-fi facility also making Mumbai International Airport the first airport in the country to have a wi-fi facility.

While this project has been a success worth crowing about, GVK through its other projects has also proven why the airport task was just another feather in its hat. Answering India’s growing infrastructural needs, it ventured into segments like hospitality, manufacturing & services in 2007 and good progress is being reported.

Its financials too speak well for the entity, as the Q2 FY 2007-08 results registered a net profit rise of a staggering 364% touching Rs.11.61 crores. Restructuring has also been on its cards over the past year. An apt strategic move as the company has now become an integrated infrastructure contender. It consolidated all its assets under one company known as GVK Power and Infrastructure Ltd.. This move will not only ensure that GVK is poised for growth, allowing it better utilisation of its resources, but also reduce total tax burden for the now composite unit. Its well earned efforts with the six-lane expressway between Jaipur and Kishangarh on NH-8 (a segment of the Golden Quadrilateral National Highway Development Programme) which it completed in six months, before its deadline of 30 months, only proves its competence and dedication to help build a better India as G. V. Krishna Reddy, Chairman, GVK, promises, “We will continue working towards building a better India for the generations of today and tomorrow. We will continue to make it happen.” Of late, GVK has also directed its attention to SEZs for which it recently tied-up with the Tamil Nadu Industrial Development Corporation Ltd.. Its CSR acts too have been noteworthy which includes providing drinking water in Rajasthan & sponsoring building of schools & community halls around the country. So can be expected from GVK in near future? Answering the same, Manish Kalghatgi, GM, Communications asserts, “As a pioneer in infrastructure, GVK has always taken on challenging projects and made a success. At GVK, we always strive to ‘Make It Happen.” And we, on our part, have our fingers crossed.

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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).

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