Mumbai: GMR InfrGMR Infrastructure has said that it does not want to take up any new projects on its own for at least a year and will spend time and effort in increasing cash flows from existing infrastructure projects.
The Bangalore-headquartered developer of roads, airports and different utilities, which has a debt of around Rs 25,000 crore, also wants to resolve issues related to different projects in partnership with government.
"We don't need to continuously grow. We have grown enough in the last 10 years and now we need to shift gears. There is a consolidation phase. That's where we have reached now. We already have $5-6 billion of assets on the balance sheet which are operational.
Another $9 billion of assets are under construction. So we would have a total of $15 billion assets on our balance sheet by 2014 . That's a decent growth that we have achieved," GMR group's chief financial officer A Subbarao told ET. Subbarao said that the company may look at some infrastructure projects in a "limited way", such as the Mumbai-Trans Harbour Link Project, for acquiring technical experience. astructure to take a break from entering into new projects.
23/03/12 Economic Times
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