Gammon India is one of the oldest and respected civil engineering companies in India. For almost 100 years, the company has provided some of the toughest infrastructure projects throughout the country. Gammon built more bridges across the Commonwealth than any other company until 2012, a clear indicator of its strength engineering. Even though the company is now facing financial challenges, its legacy and contribution to India’s infrastructure is still significant.

Company Overview

Gammon India Limited is a Public Infrastructure and Construction Company. It has been involved in the execution of projects in the areas of highways, bridges, metro rail systems, marine structures, and public utilities. The company also became involved in social infrastructure through residential, commercial and hospitality projects.

Gammon has worked on projects with both contract execution and Built-Operate-Transfer (BOT) models. The company also has worked on landmark developments like Hotel Leela Palace Chennai, Galleria Mall Bangalore and major residential projects of Mumbai and Bangalore.

Who Owns Gammon India?

Gammon India is a public limited company, which means that it is owned by shareholders. Promoters currently control a small proportion of about 11.5%. After financial stress and debt issues, the company went through the Strategic Debt Restructuring in 2015. As a result, a consortium of lenders became very powerful in their control. This type of ownership structure is indicative of Gammon’s continuing restructuring process.

Who Leads Gammon India?

Abhijit Rajan is the Chairman of Gammon India Limited and is responsible for the direction of the company at board level. The company is led by Ajit Desai who is the CEO. He handles day-to-day operations, as well as the restructuring efforts. Under this leadership, there is an ongoing realignment of the business model of the company in the context of dealing with the financial pressure and challenges from the market.

Net Worth and Market Capitalization

Gammon India is currently recording a negative net worth because of heavy accumulated losses. The book value stands at ₹-332 per share which draws attention to the financial distress. Despite this, the market capitalization of the company is between ₹61 Crores to ₹72 Crores. In the financial year ending March 2024, Gammon recorded consolidated revenue of ₹71.74 crore but suffered a massive net loss of ₹1,968.56 crore. These numbers clearly indicate that the company is still in the recovery mode.

Why Gammon India Stands Out

Gammon India is unique due to its unparalleled legacy in the Indian infrastructure. The company was associated with iconic projects like the foundation of the Gateway of India. Its experience in bridges, highways, metro systems and marine engineering continues to command respect throughout the industry. Even in the process of restructuring, Gammon is still preparing for future opportunities by reorganizing its operations. This is the combination of its history, expertise and resilience that ensures that Gammon India remains relevant in India’s construction sector.