GMR Infra effects rejig of biz heads

The key business verticals in the GMR Group,whose promoter group holds 71.64 stake in the company,are mostly headed by the family members with the exception of Nageswara Rao.

While GM Rao is the group chairman,his elder son

GBS Raju is business chairman of the energy arm and son-in-law Srinivas Bommidala is business chairman of the airports division.

Both Raju and Bommidala have previously had stints as managing director and corporate chairman,in keeping with the company policy of rotating designations and responsibilities among the group directors every four years. The last such restructuring was effected in 2011 when Nageswara Rao,58,took over as managing director and Kiran shifted from the airports vertical to take over the urban infrastructure and highways arm.

A company spokesperson said the swap of roles between Kiran Kumar and Nageswara Rao was due to personal reasons mostly because the corporate functions required a lot more travel.

Kumar has been on the companys board since 1999 and led the groups entry into the airport business besides handling finance functions. In his new role,he will also head the GMR Sports arm,which controls the Indian Premier League cricket team, Delhi Daredevils.

Airports and energy are the two biggest business areas for GMR whose consolidated net revenue grew 9 to R8,265 crore in FY13. The company posted a consolidated net profit of R88 crore against a loss of R603 crore last fiscal.