Madhu Terdal, CFO, GMR Infrastructure, said that the company is looking to grow organically as well as inorganically. The company is looking for the inorganic growth in Energy and Airport and for acquisitions in these sectors globally.

He further said that the company is not bidding for Sweden airport at this time. About it, he said that as a company, we don’t do one-off kind of opportunities and Sweden was like that. The company is looking for opportunities of acquisition in Europe. But the company does not have specific targets that the company should win airport projects.

About airport projects in EU, he said that Istanbul’s main airport has reached a peak of capacity of passengers and it earned a revenue of Euro 88 million last year and it is growing at 45-50% for last 2 years. The company will take over the Istanbul airport in next 3 months.

Because of the IPO and market capitalization going up of the company, they are having opportunity to leverage as the company is having enough capital. He further said that the company is awaiting outcome for Tamilnadu SEZ shortly.

The stock has had a great run and was also up smartly today. The company recently won a hotly contested tender for construction of a new terminal at the Sahiba Gokcen International Airport (SGA) at Istanbul, Turkey. The build-operate-transfer project involves construction of terminal with a 10 million capacity in 30 months besides managing the existing domestic and international terminals (with passenger capacity of 3.5 million per annum.

The consortium (GMR - 40%, Insaat Sanay San Ve Tic A.S Turkey (Limal) — 40% and Malaysian Airport Holdings Berhad — 20%) will pay a total concession fee of Euro 1.93 billion (approx. Rs 11,000 crore) to the Turkish goverment authority over 20 years to run the airport. The GMR consortium won against competition that included major airport operators like Fraport — Germany, Venice Airport — Italy, TAV - Turkey and Chicago Airport - USA.

With the win, GMR will now have three airport projects under its belt. It is already expanding the New Delhi airport at a cost of $ 1.5 billion by 2010 in time for the commonwealth games.

The company's Hyderabad airport, being built at a cost of $ 500 million, will be ready next year. Apart from just running the airport, GMR will also develop the real estate around these airport to build shopping complexes and facilities for passenger. There is an estimated 5000 acres available for development around the Delhi airport, which will be up for development.

The latest bid in Turkey is expected to hasten the progess of GMR as an airport infrastructure company. This far, when it bid for airport projects in India, it has had to bring in foreign partners to show experience in building airports. As the company is planning to bid for a new airport in Chennai and other modernisation programmes of airports across the country, it may well get a chance to go alone citing its experience.