GMR Infra awards advertising contract to Laqshya

MUMBAI: GMR Infrastructure on Tuesday said it has awarded a seven-year advertisement management contract to Laqshya Media (Laqshya).

GMR Hyderabad International Airport Ltd (GHIAL), a subsidiary of GMR Infrastructure, developing an international airport in Shamshabad has awarded an advertisement services management contract to Laqshya Media Pvt Ltd, the company informed BSE. It, however, did not give any financial details.

In the pre-operation term, Laqshya along with GHAIL would prepare a master plan, including in-terminal and outdoor advertising facility with concept designs, themes and location planning at the airport.

As per the agreement, Laqshya would also operate, manage and maintain the advertisements by offering the locations to prospective clients.

Laqshya has been the selected through a transparent and competitive bidding process on the basis of technical and financial criteria, including experience, expertise, capability and know-how in advertising business, it added.

Shares of the company were last trading at Rs 797, up 6.42 per cent on BSE.