GMR Airports Infrastructure Limited (GAL) has unveiled plans to expand its passenger handling capacity to over 400 million by 2030, marking a significant development in India's aviation infrastructure.

Expansion Strategy

The company's growth strategy includes:

• Commissioning new airports, with a focus on the recently opened Mopa Airport in Goa
• Expanding existing facilities, particularly at Hyderabad Airport
• Developing integrated Aerocity ecosystems around Delhi and Goa airports

Financial Performance

GAL reported financial results for Q2 FY2026:

Operational Highlights

• GAL-owned airports handled 27.8 million passengers in Q2 FY2026
• Delhi Airport processed 17.6 million passengers
• Hyderabad Airport saw 7.3 million travelers

Strategic Initiatives

The company is pursuing growth in airport adjacency businesses:

• Took over Delhi Duty Free operations on July 28, 2025
• Assumed control of Hyderabad Duty Free on September 10, 2025
• Awarded a concession to develop and operate the Cargo City at Delhi's Indira Gandhi International Airport

Refinancing Activities

GAL has undertaken refinancing efforts to optimize its debt structure:

• Raised ₹5,900.00 crore through Non-Convertible Bonds
• Delhi International Airport Limited (DIAL) raised ₹1,000.00 crore via Non-Convertible Debentures

Regulatory Developments

The company received a judgment from the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) regarding tariff-related matters for its Mopa (Goa) Airport operations.

Infrastructure Development

GAL continues to progress on several infrastructure projects:

• Delhi Airport: Constructing a commercial office building and a luxury hotel
• Hyderabad Airport: Nearing completion of an MRO facility for Safran
• Mopa (Goa) Airport: Developing third-party hotel projects

Outlook

With its expansion plans and financial performance, GMR Airports Infrastructure aims to capitalize on the growing demand for air travel in India and contribute to the country's aviation infrastructure development.

GMR Airports Limited (GAL), one of the largest private airport operators globally, has reported a robust financial performance for the second quarter, demonstrating significant growth and improved profitability.

Key Financial Highlights

• Total Revenue: Increased by 47% year-over-year to 36.70 billion rupees from 24.95 billion rupees
• EBITDA: Grew by 56% to 15.00 billion rupees
• Net Loss: Reduced to 371.00 million rupees, a substantial improvement from the 2.80 billion rupees loss in the same period last year
• EBITDA Margin: Expanded to 41.72% from 38.54%

Operational Performance

GAL-owned airports handled 27.8 million passengers in the quarter, with Delhi Airport processing 17.6 million and Hyderabad Airport handling 7.3 million passengers. The company's airports collectively managed 27% of India's total passenger traffic in the first half of the fiscal year.

Segment-wise Performance

Delhi Airport (DIAL)

• Revenue increased by 34% year-over-year to 18.49 billion rupees
• EBITDA surged by 69.4% to 6.75 billion rupees
• Reported a profit of 740.00 million rupees, compared to a loss of 3.79 billion rupees in the same quarter of the previous year

Hyderabad Airport (GHIAL)

• Revenue grew by 16.9% year-over-year to 6.74 billion rupees
• EBITDA increased by 16.5% to 4.30 billion rupees
• Net profit more than doubled to 1.00 billion rupees

Goa Airport

• Revenue decreased by 14.5% year-over-year to 840.00 million rupees
• EBITDA declined to 120.00 million rupees from 410.00 million rupees in the same quarter of the previous year

Strategic Developments

1. Duty-Free Operations: GAL commenced duty-free operations at Delhi Airport on July 28 and at Hyderabad Airport on September 10.

2. Delhi Cargo City Concession: The company secured a concession to finance, design, develop, operate, manage, and maintain the Cargo City at Delhi's Indira Gandhi International Airport.

3. Refinancing Activities: GAL raised 59.00 billion rupees through Non-Convertible Bonds to refinance existing debt, optimizing its financial structure.

4. Infrastructure Upgrades: Delhi Airport reopened its upgraded runway 10/28 for regular operations, now capable of handling CAT III flights.

Outlook

GMR Airports Limited's quarterly results reflect a strong recovery in the aviation sector and the company's strategic initiatives. The significant improvement in financial performance, particularly the substantial reduction in net loss and strong revenue growth, indicates a positive trajectory for the company.

The expansion of duty-free operations and the new cargo concession at Delhi Airport are expected to drive further growth in non-aeronautical revenues. Additionally, the company's focus on infrastructure upgrades and operational efficiency should help maintain its competitive edge in the rapidly growing Indian aviation market.

As air travel continues to rebound, GAL's diversified portfolio of airports and its strategic positioning in key markets place it well to capitalize on the sector's growth potential.

Table: Key Financial Metrics (Current Quarter vs Previous Year Quarter)

With its strong financial performance and strategic initiatives, GMR Airports Limited demonstrates resilience and growth potential in the dynamic aviation sector.