Today, GMR Group has become known for building and operating world class national assets in 7 countries. However, in January 2013, the company was forced to terminate what was the country’s biggest highways contract worth over $1 billion due to delays in getting approvals. In an attempt to reduce its $6.7 billion debt, Mr. Rao sold GMR’s stakes in 2 highway projects recently. According to reports, some investors, among which is Singapore’s Temasek, have agreed to trade their preference shares of GMR for equity. In July, G. M. Rao he let his youngest son to become in charge of the company.