GMR has won the bid to develop and operate the Kualanamu International Airport in Medan, Indonesia.
GMR Airport enters the fast growing Indonesian market a 49% stake in this Airport.
Medan is the 4th largest urban area in the country.
The Airport handled more than 10 million passengers in 2018. (Winning this Airport is actually a big deal in the long run).
25 year handling contract.
Conclusion: GMR Airports is fast becoming a global Airport operator unlike most of its listed peers which trade at significantly higher valuations despite operating just single airports.
Signing with French MNC - Group ADP as their partner is visibly helping GMR win big global contracts.
(Fly my bird, fly).
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The PayTM disaster:
Tell me you did NOT apply.
Coming at 49x revenue with significant losses and NO path projected to 'profitability'.
*This is the best way to describe PayTM.
Forget the 'J' curve, this is 'I' curve - Falling straight down like a knife through butter.
Paytm management even said that they have left a 'lot of value' for investors.
*It is good that today is a Friday and I am in a good mood in general ;)
Conclusion: Yes, Technology is the future. But NO, not all Tech cos will create 'exponential J curve wealth'.
Let us hope this flop show makes the next set of Tech IPOs come at more reasonable valuations.
*This IPO flop could be a blessing in disguise.
We just own NYKAA as they are growing exponentially and are already very profitable.
We liked CarTrade but very clearly said we should not touch at 1600/share and we should explore SIP around 1000/share.
All our 'Tech' plays are basically profitable. Let me say - 'Highly' profitable.
A couple of jokes on lighter note to end the thread:
Paytm now could be called Pay-MTM
Paytm recovered all the cashbacks via its IPO