Fairfax India has ownership in 460 acres of land near the airport through BIAL. BIAL is currently valued at $2.6B based on discounted cashflow. The land alone could be valued at $0.5-1B, and potentially $2B once it is fully developed. This is based on retail lot pricing and commercial value is generally higher. Based on the current developments such as the 3D Tech Printing Facility, Taj luxury resort, Concert etc., and the vision for luxury retail, business parks, community etc. the value is reasonable. Basically, the land alone makes up 20-40% of current value and 80% of future value.