Financial Highlights for Q3 FY 2009-10 INR Cr.

Particulars	Nine months ended			Quarter ended
	31st Dec 2009	31st Dec 2008	change	31st Decv2009	31st Dec’08	change
Net Revenue	3,441.6	2,691.4	28 percent	1,066.7	958.9	11 percent
EBITDA	1,049.7	780.4	35 percent	345.4	291.1	19 percent
Interest	499.6	253.0	98 percent	162.8	113.2	44 percent
Other Income	56.3	22.3	153 percent	31.8	8.7	268 percent
Depreciation	448.1	279.3	60 percent	170.0	114.3	49 percent
PBT	158.4	270.4	-41 percent	44.5	72.3	-38 percent
Tax	43.9	34.4	27 percent	13.3	18.2	-27 percent
PAT*	85.3	226.2	-62 percent	9.2	61.3	-85 percent
Cash Profit	538.9	513.3	5 percent	194.2	168.7	15 percent
Free cash Flow**	259.9	227.6	14.2 percent	90.8	29.3	210 percent

After minority interest Cash Profit minus Loan repayment

Commenting on the performance of the quarter, Mr G M Rao, Group Chairman said:

“The 3rd quarter has been special for us. We commissioned the Istanbul Sabiha Gocken International Airport in record 18 months, much ahead of schedule. The Turkish PM praised the construction and promised continuous support to the project.

We have made significant progress on initiatives across our businesses. We have acquired 70 percent stake in SJK Power Generation Ltd, a licencee for 1320 MW coal based power plant in MP. We have also signed BTG contract with Shanghai Electric Company for the 2x300 MW EMCO project.

Both, international and domestic airport sector has seen healthy increase in passenger traffic. Especially SGIA, has registered high growth in both passenger traffic and aircraft movements. At DIAL the construction of Terminal 3 is progressing as per schedule and a number of contracts have been signed in the area of Ground Handling, Cargo, Duty Free and FandB. We have also issued letters of award for the balance 6 land parcels in DIAL Hospitality District. At HIAL, agreements have been signed for engine maintenance training centre, airframe overhaul and aviation training.

In the Highways sector, we have signed concession agreements for Hyderabad Vijayawada and Chennai Outer Ring Road projects. Process for creation of Highways Holding Company is underway

In this quarter we have put in place catalysts that drives growth across sectors in time to come“

Major developments during Quarter 3, FY10

Power Sector

• BTG contract for 2 muktiply 300 MW EMCO project has been signed with Shangai Electric Company, China
• Acquired 70 percent stake in SJK Power Generation Limited, 1320 MW coal based power licensee in the State of Madhya Pradesh.
• EPC contract for 768 MW GMR Rajahmundry Energy Limited has been awarded to LandT.
• Relocation of Barge mounted Power Plant from Mangalore to Kakinada is in progress

Airports Sector

Delhi International Airport Pvt. Ltd.

Status update on Terminal 3

• The construction work for the integrated Terminal-3 is proceeding as per schedule. An overall progress of 85.34 percent has been recorded till 31st December 2009.

Award of Commercial Contracts

• DIAL has signed Concession Agreement with Celebi Hava Services for Ground Handling.

• Letter of award has been given to Cambata for Ground Handling.

• DIAL has signed Concession Agreement with “Cargo Service Centre” for Development, Finance, Operation and Management of Greenfield Cargo Terminal.

• Letter of award issued for the balance land parcels in Hospitality District.

• Agreement signed for :

  • 49.9 percent stake in Duty Free JV with Aer Rianta and Indian Duty Free Services.
  • 2. 40 percent stake in F&B with Travel Food Services & Devyani International .
  • 3. 26 percent stake in Greenfield cargo with Cargo Service Centre.

Traffic Update

• DIAL witnessed 14 percent increase in total passenger traffic, 5 percent increase in aircraft movement and 5 percent increase in international cargo traffic in the first nine month of FY10 as compared to the same period of FY09.

GMR Hyderabad International Airport Ltd. GHIAL

• Gazette Notification received for the Aviation Sector Specific SEZ on October 20 2009
• Signed MoUs between Jet Airways and MAS GMR Aerospace Ltd.for heavy maintenance services of their entire fleet of over 100 aircraft for a period of ten years.
• Signed MOU between GHIAL and Malayasian Airports Consulting Servies for technical collbaration on commercial projects at RGIA.
• Signed MOU between GHIAL and Asia Pacific flying training academy, for ab initio pilot training
• Agreement signed with CFM International for establishing an engine maintenance training centre.
• Agreement signed with Airports Council International for establishing GMR Aviation Academy as a Global Training Hub for Asia Pacific region.
• HIAL witnessed 3 percent increase in total passenger traffic, 1.5 percent decrease in aircraft movement and 14 percent increase in cargo traffic in the first nine month of FY10 as compared to the same period of FY09.