They have a ticket to fly

Infrastructure companies and real estate developers, in particular, are acquiring new corporate jets as they expand their footprint across India.

Even those who already own aircraft are buying more. Hiranandani Infrastructure & Real Estate Company, HDIL, GVK, GMR Infrastructure, Omaxe, Parsvanath, Jaiprakash Industries, L&T, India Bulls Real Estate and Punj Lloyd, among others, have all recently acquired aircraft or are ordering more.

KPMG India’s Senior Advisor Mark D. Martin says: “Real estate companies have realised that private jets are a critical requirement to move from one place to another in double quick time.”

Adds M.V. Subba Rao, GMR Group Director: “As we grow bigger, the geographical locations will also multiply. In order to overcome the time and the humun resource constraints, a fast mode of transportation and communication is essential.”


—K.R. Balasubramanyam