Seven Mega Projects Launched By Kerala CM For Cochin International Airport Ltd
The world’s first fully solar-enabled airport and the fourth busiest airport in terms of international traffic, Cochin International Airport Ltd (CIAL) is in the limelight for its seven mega new infrastructure development projects. It is said that the new seven projects will significantly boost its operations and make a positive impact on its shares as well. The Kerala Chief Minister launched the projects. Both investors will benefit from Cochin International Airport unlisted shares. Do you want to know about the seven mega projects of CIAL and how they will impact its share price? Continue reading the blog till the end to know everything about it.
Kerala CM Launched 7 Mega Projects AT CIAL
On 2 October 2023, Kerala Chief Minister Sri Pinarayi Vijayan inaugurated seven mega-projects considering growth potential in passenger traffic, tourism and agrarian economy. The seven projects include – DigiYatra Software, Terminal 3 Expansion, an Import Cargo Terminal, Airport Emergency Services, Aero Lounge, and a Gold Resort. In the post shared on Facebook, Vijayan said the aero lounge will comprise 42 luxury guest rooms, a restaurant, a mini-conference hall, a gym, a board room, and a spa, among other facilities. He also said, “Once fully operational, with a massive area of 50,000 sq. ft, it will become the biggest lounge facility in the country.”
Additionally, the Airport Fire and Rescue force will be upgraded to Airport Emergency Services, including two Austrian-made fire engines and other advanced vehicles, among other safety measures, as said by CM.
In regards to this, CIAL said that the Import Cargo Terminal will increase the annual capacity of cargo handling to two lakh metric tonnes. The DigiYatra software will be developed by the IT wing of the CIAL itself and aims to smoothen the services at the entry gates of the airport. Indeed, these seven new projects will significantly impact Cochin International Airport share price in the future.
CIAL’s New Vision Of Infrastructure Development
The seven projects launched by Kerala CM envisage endorsing CIAL’s new vision of infrastructure development, baptised as “Flying Into Tomorrow.” After focusing on cargo passenger traffic growth, CIAL is ready for a massive infra-addition, which includes the inauguration of its huge import cargo terminal, the beginning of civil work for the phase 1 expansion of its International Terminal and the dedication of DigiYatra.
These new projects are going to boost CIAL’s optimal growth and its visionary diversification strategy. Further, the project also includes the construction of a new apron sprawling over 15 lakh square feet and a five lakh square feet terminal expansion to the existing international terminal. The airport authority also said that the resort project would include waterfront cottages, which will promote Golf Tourism and the sports centre at the CIAL Golf Course.
CIAL is the only airport in the country which registered a profit in the post-pandemic era. In the last couple of years, the airport initiated a few projects, including two energy projects and an elegant Business Jet Terminal. Speaking about these projects, CIAL Managing Director S. Suhas IAS said, “These strategic endeavours signify a new era of development for Cochin International Airport Limited and propel us towards becoming one of the finest airports in India.”
There is no doubt that the inauguration of these seven new projects depicts a new era for CIAL’s infrastructure development while also highlighting its hassle-free pursuit of sustainable development and the advancement of green energy production.
Financial Performance Of CIAL For FY 22-23
It is evident that CIAL is the first international solar-powered airport, and due to this, it has maintained a positive financial performance in the past few years. As a retail investor, it is important for you to know about the financial performance of CIAL to make a wise decision. For FY 22-23, the recorded revenue of the airport is Rs. 9,548 Cr, against Rs. 5242 Cr. in FY 21-22. The EBITDA of the airport also increased from Rs. 2,489 Cr. to Rs. 5,782 Cr in 2023. While the recorded Profit After Tax (PAT) in 2023 is Rs. 2,928 Cr., which was Rs. 350 Cr. After looking at the financials of the CIAL airport, it is said that it has been performing well, giving an opportunity to investors to buy its unlisted shares.
Diversify Your Investment Portfolio With CIAL Unlisted Shares
Do you want to earn high ROI or diversify your investment portfolio? Invest in CIAL unlisted shares. Currently, Cochin International share price is Rs. 209 per equity share, which changes per the company’s performance and market trends. If you want to make your trading experience seamless, count on expert brokers at Stockify. It is one of India’s leading stock broking platforms, helping retail investors buy and sell unlisted shares of top pre-IPO companies in India. So, do not wait; connect with the experts today.