GVK Power to focus on consolidation, not new projects.

GVK Power and Infrastructure Ltd. says it's time to focus on business consolidation, paring debt and growing the power generation business rather than chasing new orders.

The focus of the company is on stabilising the existing investments, be it Mumbai and Bangalore international airports, road projects or power generation assets. The times are challenging, GVK Reddy, Chairman of GVK Power, told shareholders recently.

During the current fiscal, two power assets - the 330-MW Alaknanda hydel power project in Uttarakhand and the 540-MW Goindwal Sahib plant in Punjab - and two coal mines are expected to be commissioned, the Chairman told the 20th annual general meeting.

Besides, two road projects - Deoli-Kota Expressway and Bagodara-Vasad Expressway - are also expected to be operational this fiscal.

'If the current year is a period of consolidation, we expect the next year to be a turnaround year,' he added.

HBL