GMR Hyderabad International Airport Ltd (GHIAL), promoted by the GMR Group, has devised a three-pronged strategy to improve its revenues in the wake of a dip in the real estate market here, sources close to the development said.

“GHIAL’s primary focus will be improving passenger traffic. The second focus area will be cargo and the third priority will be developing aerospace business, as accrued losses of the company stand at Rs 250 crore,” sources said.

The company, which had announced big plans to develop an aerotropolis around the Rajiv Gandhi International airport here, is now going slow on that front as gloom looms large over the Hyderabad real estate market on account of the ever-changing socio-political scenario in Andhra Pradesh.

“Property development is a long-term thinking now. Lot of over-supply in terms of office space and hotels is there in Hyderabad. There is no point in further supply. It is already crowded,” sources said.

The group had earlier announced that they are in discussions with various chains of hospitals to set up a 500-bedded hospital at the airport here as part of their plan to develop the aerotropolis.

“But there is no development in the hospital project. We are in talks with an American Group for the hospital. We feel situation is not conducive now. We are not pushing for that,” a senior GMR official said.

Group Chairman, Mr G.M. Rao had said they wanted to develop seven ‘ports’ which would form the aerotropolis with a view to support revenue and the growing airport traffic in future.

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