G. M. Rao
G. M. Rao
At a Glance
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Age64
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Earnings$ 1.02 Billion
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Source of earningsInfrastructure
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Marital StatusMarried
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Children3
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ResidenceBangalore
Forbes India Lists
#98 India Rich List 2014
#63 India Rich List Rank 2013
Profile
In keeping with what it calls its 'asset-light, asset-right' strategy, his GMR Group, which operates the country's busiest airport in Delhi, has continued selling assets to reduce its $6.1 billion debt load. In April, GMR Infrastructure, run by youngest son Kiran Kumar Grandhi, sold its 40 percent stake in Istanbul's Sabiha Gokcen Airport for $285 million to partner Malaysia Airports Holding. The same month, it won a 25-year concession from Philippines to expand the Mactan-Cebu International Airport after it made a $320 million joint bid with Megawide Construction.
