JSW Group passes on latest airport auction, terms business a 'quasi-real estate play'
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓JSW Group decided against bidding in the government’s latest airport privatization round.
- ✓Parth Jindal said, "We realized it is a kind of real estate investment." The group feels smaller assets are not profitable.
- ✓However, they might reconsider if larger city airports like Kolkata and Chennai open for private participation later.
Story at a Glance
- Category
- Indian Markets
- Reported By
- mint
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
Summary
JSW remains open to reconsidering its stand if bigger city airports, including Kolkata and Chennai, are opened up for privatisation, Parth Jindal says.
Billionaire Sajjan Jindal-led JSW Group has ruled out bidding in the government's latest airport privatization round -- at least for now.
The decision came after an internal review concluded that airports are "a quasi-real estate play." However, JSW remains open to reconsidering its stand if bigger city airports, including Kolkata and Chennai, are opened up for private participation.
"We set up a small team to study the airport business. We evaluated the pros and cons, the investment required, and the returns. We realized it is a kind of real estate investment. We felt it doesn't fit into any of our existing businesses," Parth Jindal, managing director of JSW Cements and JSW Paints, told Mint.
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