Two South India-based industrial groups GMR and Reddy's GVK have been successful in getting the contracts for modernisation of Delhi and Mumbai airports respectively.

Even though GMR-Fraport was the second highest financial bidder for the modernisation of the two metro airports, with an investment of about Rs. 5,400 crore, it is going to opt for Delhi by matching the top bidder, Reliance-ASA in terms of revenue share to government, sources said.

GMR-Fraport was given the option to match the top bidder at either of the airports, as it was the sole technically qualified bidder among the five aspirants for Delhi and six for Mumbai airports.

In the process, GMR which had bid 43.6 per cent revenue share for Delhi would match that of Reliance's 46 per cent.

For Mumbai, Reddy's GVK emerged as the top bidder offering a revenue share of 38 per cent, followed by GMR 33 per cent, DS Group's 28.12 per cent and Reliance's 21.33 per cent.

A final decision on awarding of the contracts was announced by the civil aviation minister Praful Patel.

(www.financialexpress.com)