Feature

Estimated time of debt departure: Unclear

The uncertainties around its power and airport businesses have kept GVK from soaring

File photo

You would expect the company that runs two of India’s busiest airports to be an investors’ darling. But that’s not quite how it is for GVK Power & Infrastructure. From trading around ₹40 a couple of years ago, the company’s stock is down to ₹13 now. On their part, investors have had good reason to be spooked. The company has been posting a net loss since Q3FY12. For the latest quarter for which financials are available, GVK reported a net loss of ₹43.66 crore. Adding to the company’s woes is a gross consolidated debt of around ₹15,000 crore which translates to an interest outgo of over ₹700 crore every year.