GVK Industries

GVK Industries Limited or GVK Group is an Indian conglomerate headquartered in Hyderabad with interests in several sectors including energy, airports, hospitality, transportation, real estate, pharmaceuticals and technology.[2] After acquiring Australian coal mines in Queensland for US$1.26 billion, GVK forecasts an investment of US$10 billion in mine, rail and port project. Its flagship company GVK Power & Infrastructure Limited is listed on both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) as NSE: GVKPIL.[3]

GVK Industries Limited
TypePrivate
IndustryConglomerate
Founded20 April 2005
FounderGVK Reddy
Headquarters
Hyderabad, Telangana
Number of locations
India, Australia, Indonesia
Key people
GVK Reddy
(Chairman)
G.V. Sanjay Reddy
(Vice-Chairman)
A. Issac George
(CFO)
ProductsEnergy, Resources, Airports, Transportation
RevenueIncrease₹31.363 billion (US$390 million)(2015)[1]
Number of employees
50,000 (2017)
Websitegvk.com

In February 2023, the Indian Congress Leader Rahul Gandhi alleged that the BJP Government forced GVK to sell the Mumbai Airport to Adani Group; the Vice Chairman of the conglomerate GVK has denied the allegations and stated that the transaction was completed based on commercial justification.[4][5][6]

Businesses

Energy

GVK's energy portfolio comprises CCPP (gas/naphtha-based), thermal (coal-based) and hydro power plants.

Projects under operation
  • 469 MW Gautami CCPP, Andhra Pradesh commenced operations in 2009.[7]
  • 228 MW Jegurupadu CCPP Phase 2 – 228 MW, Andhra Pradesh commenced operations in 2009 [7]
  • 330 MW Srinagar HEP, Uttarakhand commenced operations in 2015 .[8]
  • 540 MW Goindwal Sahib Thermal Power Project, Punjab, commenced operations in 2016 [9]

Projects under construction and development

Coal

Australia:

GVK has secured 79% stake each in Alpha Coal and Alpha West Coal mines and 100% stake in Kevin's Corner mines in Queensland, Australia for US$1.26 billion with total resources of about 8 billion tonne and a capacity of over 80 million tonne per annum. When combined, these projects will create one of the largest coal mining operations in the world. GVK has also acquired 100% stake in a 500 km rail line and a 60 million tonne per annum port as part of the ‘pit-to-port’ logistics solution. The project proposes a total investment of US$10 billion. This acquisition was awarded as “Asia Deal of the Year” and “Asia Outbound Investor of the Year” at the 8th Asia Mining Awards 2012, Singapore. GVK has received all pertinent approvals having reference to mine, rail and port projects from both the State and Federal Government and is in the culminating stages of project development. .[10]

India

GVK's thrust into the aviation sector set about with the modernization of Chhatrapati Shivaji International Airport (CSIA) in Mumbai. Further, with the acquisition of Kempegowda International Airport (KIA) in Bengaluru, GVK has become one of the largest airport operators in the country handling a combined traffic of over 60 mppa at these two airports.[11][12][13]

Between 2016 and 2018, GVK sold its stake in Bengaluru International Airport Limited (BIAL) to Fairfax India.[14] In 2021, GVK sold its operations at Mumbai International Airport Limited (MIAL) to the Adani Group.[15]

Indonesia

GVK has collaborated with the Airports Authority of Indonesia, Angkasa Pura Airports (AP1), for operations, management and development of non-aeronautical commercial services at Denpasar International Airport, Bali. GVK is also developing an International greenfield airport in Yogyakarta, Special Region of Yogyakarta.[16][17][18]

Transportation

Roads:

GVK's Jaipur – Kishangarh Expressway, Rajasthan, the first privately operated six-lane road project with 542.4 lane km. GVK's road portfolio encompasses other projects of over 900 lane km under various stages of construction and development:

Projects under operation
  • Jaipur – Kishangarh Expressway (542.4 lane km), Rajasthan
  • Deoli – Kota Expressway (332.16 lane km), Rajasthan

Projects under construction and development
  • Bagodara – Vasad Expressway (611.4 lane km), Gujarat

Ports

Hospitality

GVK has seven TAJGVK properties across Hyderabad, Chandigarh, Chennai and Mumbai having a total key base of 1372. These include Taj Krishna, Taj Deccan, Taj Banjara and Vivanta by Taj Group in Hyderabad; Taj Chandigarh, Taj Clubhouse in Chennai and Taj Santacruz in Mumbai. It is also coming up with the Ginger brand in Andhra Pradesh to cater to the value segment.

References
  1. "GVK Annual Financial report" (PDF). GVK. 1 January 2015.
  2. Power & Infrastructure, GVK. "ABOUT GVK".
  3. Power & Infrastructure. "Annual Finance Report 2011-12" (PDF).
  4. "No Pressure To Hand Over Airport To Adani": GVK Boss Rebuts Rahul Gandhi ndtv.com
  5. 'Obviously GVK will deny...' Shiv Sena's fresh attack amid Adani-Mumbai Airport livemint.com
  6. GVK Group Rebuts Rahul Gandhi's Statement, Says 'No Pressure' To Sell Mumbai Airport Stake To Adani outlookindia.com
  7. "GVK - Our Business - Enegry - CCPP (Gas & Naptha)". gvk.com. Retrieved 3 April 2017.
  8. "BHEL commissions 4th 82.5 MW at Uttarakhand hydel project - NetIndian". netindian.in. 11 June 2015. Retrieved 3 April 2017.
  9. "Finally, Goindwal Sahib thermal plant to get going". hindustantimes.com. 26 January 2016. Retrieved 3 April 2017.
  10. weekly, Mining. "Queensland approves two new rail corridors". Retrieved 6 June 2012.
  11. "'There are many challenges, including land acquisition'". The Hindu.
  12. "GVK buys 14% stake in Bangalore airport from Siemens". The Hindu.
  13. "Airport scores business continuity first". ITWeb. 12 January 2012.
  14. Kumar, V. Rishi (11 January 2018). "GVK to sell 10% stake in Bengaluru airport to Fairfax for ₹1,290 crore". Hindu Business Line. Retrieved 13 July 2021.
  15. "Adani Group Takes Management Control Of Mumbai International Airport From GVK Group". Moneycontrol. 13 July 2021. Retrieved 14 July 2021.
  16. "GVK Power bags 2 airport projects in Indonesia". Hindu Business Line. 26 January 2011. Retrieved 11 July 2013.
  17. "GVK Power and Infrastructure ties up with Indonesian Airport Authority". The Economic Times. 8 November 2012. Retrieved 11 July 2013.
  18. "GVK calls tenders for services contracts at Bali airport". The Economic Times. 29 May 2013. Retrieved 11 July 2013.
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