Column : When ambition overtakes ability
GMR group chairman Grandhi Mallikarjuna Rao says the Maldives episode has been a learning experience. But the setback in Malé is a major one and only adds to the several other problems that GMR has been grappling with over the last couple of years. That story is best told through its performance on the bourses; after turning in negative returns in both 2010-11 and 2011-12, the GMR counter is threatening to do an encore this year too, having already lost 35%. Not the kind of track record one had expected when the group drew up a blueprint for straddling the infrastructure space in a country that is short on roads, ports, power and airports.
GMR may not be short on execution skills—witness the world-class airport in New Delhi—but the group’s
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