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GMR Airports
SectorServices
GMR Airports Infrastructure Limited is a private airport operator managing over 100 million passengers annually. Its portfolio includes major hubs like Delhi, Hyderabad and Goa in India, as well as international airports in Indonesia and the Philippines. The company is developing new greenfield airport projects in India and Greece, and creating airport cities around its existing airports. GMR provides a range of airport services including baggage handling, e-boarding, passenger terminals, and cargo facilities. The company has expanded through acquisitions, partnerships and new project developments over the years. It has undergone corporate restructuring, including a demerger of its non-airport business and name change from GMR Infrastructure Limited. GMR continues to grow its airport operations both domestically and internationally.
In the news
GMR Airports incorporates GMR Aero Realty for land development
GMR Airports shares rise 2.32% to ₹90.04 on block deal momentum
GMR Airports maintains bullish brokerage views despite traffic weakness
GMR Airports August traffic up 1% YoY to 9.4 million passengers
Emkay Global maintains ₹120 target on GMR Airports with strong Q3 performance
India's airport boom faces headwinds as airlines struggle
Adani, GMR boost non-aero revenue to drive growth
AERA's New Tariff Framework: What It Means for Hyderabad Airport
Brokerages Eye Federal Bank, Cyient, Varun Beverages & Gold Trading
Bhogapuram Airport Opens Monday, Handles 52 Flights on First Day
GMR Airports swings to ₹91 cr Q1 profit, shares fall 2.06%
Anand Rathi's Kothari picks 3 stocks under ₹200 for buying
10 stocks see triple stake increase in Q1 FY27 with 34.8% returns
GMR Airports hits record 30.22M Q1 passengers despite June decline
GMR Airports Upgraded to CARE A+ for Bank Facilities
TCS Q1 Results: Nifty Recovers 80 Points, TCS Up 2% Post Earnings
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MarketSmith India Recommends Thyrocare, GMR Airports for July 1
GMR Airports Takes Control of Nagpur Airport, Expands Retail Platform
GMR Airports hits 52-week high; Nifty breaks above 23,530
The Quarter story
The two most recent quarterly results, compared side-by-side.
GMR Airports shows strong revenue and profitability growth driven by Delhi traffic recovery and rising non-aero yields, though Hyderabad traffic softness and rising debt warrant monitoring.
Delhi Aero Revenue grew from ₹6,340 Cr in Q1 FY26 to ₹8,305 Cr in Q4 FY26 — strong passenger recovery drives core earnings
Hyderabad Aero Revenue slipped from ₹4,246 Cr in Q1 FY26 to ₹3,961 Cr in Q4 FY26 — traffic softness pressures core earnings
Non-Aero Income Per Passenger jumped from ₹376 in Q1 FY26 to ₹691 in Q1 FY27 — higher retail and F&B spend boosts ancillary yields
Gross Debt increased from ₹362 Cr in Q1 FY26 to ₹395 Cr in Q1 FY27 — ongoing infrastructure investments raise borrowing levels
Consolidated EBITDA rose from ₹12.8 Cr in Q1 FY26 to ₹15.7 Cr in Q1 FY27 — stable profitability across airport operations
Net Debt climbed from ₹329 Cr in Q1 FY26 to ₹340 Cr in Q1 FY27 — leverage remains manageable but requires monitoring
Delhi Duty Free Revenue climbed from ₹3,702 Cr in Q2 FY26 to ₹5,918 Cr in Q4 FY26 — robust passenger spending fuels retail growth
Medan Airport EBITDA grew from ₹298 Cr in Q1 FY26 to ₹507 Cr in Q4 FY26 — operational efficiency improves regional profitability
Company insights, generated from the most recent coverage.
Hyderabad is showing softer traffic alongside margin pressure from sticky costs — operating leverage works against GMR when volumes flatten at a fixed-cost-heavy asset.
Group passenger traffic grew only 0.9% YoY to 9.4 million in Aug 2026 — volume growth has stalled, so near-term revenue must come from tariff and commercial upside, not throughput.
AERA allowed Hyderabad's interim tariff to run only till Sept 30, 2026, with the fourth control period (FY27-FY31) still undetermined — this regulatory limbo is a live overhang on Hyderabad cash-flow visibility.