This concession agreement is for a period of seven years that would start from the date of operation of the airport, being developed in Shamshabad, the company informed the Bombay Stock Exchange.
However, no financial details of the agreement was disclosed in the filing.
GMR Infrastructure said Plaza Premium Lounge was chosen as the preferred bidder among five top-class lounge management companies from different countries that contended this contract, the company added.
The lounges of over 17,000
sqft would be located at both Domestic and International terminals of the New Hyderabad International Airport, GMR Infrastructure added.
Plaza Premium is currently managing and operating 21 airport lounges in seven international airports in different parts of the globe, including the Hong Kong International Airport, Changi Airport at Singapore, Kuala Lumpur International Airport, Vancouver International Airport.
Besides, the Hong Kong-based firm also operates in Guangzhou International Airport, Beijing Capital International Airport and Shanghai Pudong International Airport.
Shares of GMR closed 1.74 per cent down at Rs 473 on the BSE.
