GMR Airports logo

GMR Airports share price

NSE: GMRAIRPORTBSE: 532754Transport InfrastructureMid Cap

GMR AIRPORTS LIMITED · Formerly GMR Airports Infrastructure · Face value ₹1 · Listed Aug 2006
Last close ₹89.48down ₹0.40 (0.45%)BSE ₹89.20

Share price at the NSE close on 27 Oct 2026. Previous close ₹89.88.

27 Oct: open ₹89.00, high ₹89.64, low ₹88.55

52-week range of traded prices to 27 Oct 2026
₹84.11Low, 30 Mar 2026₹115.64High, 7 Jul 2026
Market cap
₹95,394 Cr106th largest listed
P/E
199.52
P/E without one-offs
150.79
P/B
Net worth zero or below
Dividend yield
Nonein the last 12 months
ROE
Net worth zero or below
ROCE
10.4%
Debt to equity
Net worth zero or below
Volume, NSE
70,79,42157.3% delivered

GMR Airports share price chart

Daily closes since Jan 2007, adjusted for splits and bonuses, with the demerger of Jan 2022 reinvested. Reinvested means the value of the shares of the company that was split off is treated as put back into this share at its opening price on the ex-date.

−3.1%over a year · Nifty 500 −8.8%

Results20-session average 1,69,70,293 shares a day, 58.7% delivered

About GMR Airports

GMR Airports Limited develops and operates airports and runs the commercial businesses that grow around them.1 Its customers are passengers and the organisations involved in air passenger and cargo transport.2 Its airports are at Delhi, Hyderabad, Goa, Nagpur and Bidar and at the new Visakhapatnam airport at Bhogapuram in India, and at Medan in Indonesia, and it is building a new airport in Crete, Greece.345

It organises the business as a utility platform that develops and runs airports, a consumer platform of duty free, retail, food and beverage, cargo, logistics and car park businesses, and a real estate platform that develops commercial, hotel and logistics property around its airports.1 Through subsidiaries it also runs an aircraft maintenance, repair and overhaul (MRO) business at Hyderabad airport and Raxa Security Services, a security services company.67

It was incorporated in 1996.8 At Medan it runs Kualanamu International Airport through a project company in which it holds 49% and PT Angkasa Pura Indonesia 51%.9 With Greek partner Terna it holds a 35-year concession to build and run the new airport at Heraklion in Crete.4 Construction there was 73.5% complete at the end of June 2026.10

The GMR Group has management control of the company, and GMR Enterprises Private Limited, one of its promoters, is its parent company.1112 Groupe ADP, which runs the Paris-Charles de Gaulle and Paris-Orly airports, joined as a strategic partner in 2020 and is now a co-promoter.3

GMR Airports key points

Results

  • In the quarter to Jun 2026, consolidated total income rose 23% to ₹40.8 billion and EBITDA (earnings before interest, tax, depreciation and amortisation) 22% to ₹15.7 billion; profit after tax was ₹1.5 billion, against a loss of ₹1.4 billion a year earlier.1314
  • In the year to Mar 2026, consolidated total income rose 40% to ₹15,201 crore and EBITDA 47% to a record ₹6,150 crore; profit after tax was ₹472.39 crore against a loss of ₹816.90 crore, its first consolidated profit in more than a decade.1516
  • Consolidated net debt (borrowings less cash) was ₹340 billion at the end of June 2026, leaving out ₹28.9 billion of convertible bonds held by Groupe ADP.17

Market position

  • Its airports handled 121.6 million passengers and 1.33 million tonnes of cargo in the year to Mar 2026, and its Indian airports carried 27% of India's passengers and 34% of its air cargo.18
  • In the quarter to Jun 2026, its airports handled 30.5 million passengers, up 1.0% on a year earlier.19

Revenue mix

  • In the year to Mar 2026, consolidated aeronautical income (landing, parking and passenger charges) rose 64.04% to ₹4,901.95 crore and non-aeronautical income (duty free sales, rentals, concessions, ground handling and cargo) 44.13% to ₹8,052.21 crore.20

Airports

  • Passengers in the year to Mar 20262122
    Itemyear to Mar 2026
    Delhi78.7 million
    Hyderabad30.5 million
    Goa (Mopa)5.4 million
    Medan airport in Indonesia handled 7.03 million passengers in calendar 2025.
  • It owns 74% of the Delhi and Hyderabad airport companies; Airports Authority of India holds 26% of Delhi's and 13% of Hyderabad's, where the Telangana government also holds 13%.2324
  • Hyderabad's terminal can handle 34 million passengers a year; Bhogapuram airport has capacity for 6 million a year, expandable to 40 million.2425
  • Delhi airport's tariff order for April 2024 to March 2029 raised its approved yield per passenger (aeronautical charges per passenger) to ₹360 from ₹145 from 16 Apr 2025; Hyderabad's next tariff was under review by AERA, the airport regulator, as of 12 Aug 2026.2627

Airport businesses and property

  • It began running the duty free shops at Delhi airport on 28 Jul 2025 and at Hyderabad on 10 Sep 2025; in the quarter to Jun 2026 they had revenue of ₹5.8 billion and ₹1.1 billion.2829
  • It has run Delhi airport's existing cargo terminal since DIAL ended Celebi's concession on 15 May 2025, and was named selected bidder for it for an initial period up to 2036; it is also selected bidder for a 50.5-acre Cargo City at Delhi.3028
  • It has about 3,010 acres of airport land for real estate, including 1,500 acres at Hyderabad, 794 at Bhogapuram, 247 at Nagpur, 232 at Goa and 230 at Delhi.31

What the company expects

  • On its earnings call of 13 Aug 2026, the company said it expects airport traffic to stay soft in the first half of the year to Mar 2027 and recover in the second half, with Hyderabad airport traffic flat for the year.3233
  • On its earnings call of 13 Aug 2026, the company said it expects GMR Airports' business to grow organically at about 15% to 18% over the long term.34
  • On its earnings call of 13 Aug 2026, the company said it expects about ₹2,000 crore of capital spending in the year to Mar 2027, including about ₹1,500 crore of operational spending and about ₹250 crore to refurbish Nagpur airport.35

Recent events

  • On 23 Sep 2026, subsidiary GMR Hospitality was selected to run the food and beverage outlets at Delhi airport's Terminal 3 for an initial period up to May 2036.36
  • On 2 Sep 2026, Crisil upgraded the company's bonds of up to ₹5,900 crore to AA- from A+ (a credit rating is an agency's view of a borrower's ability to repay).37
  • On 17 Aug 2026, Alluri Sitarama Raju International Airport at Bhogapuram began commercial operations after its inauguration on 1 Aug 2026; the company said all scheduled commercial passenger operations at the existing Visakhapatnam airport would move there.383940
  • On 25 Jun 2026, a wholly owned subsidiary took over operations of Nagpur airport under a concession agreement signed with MIHAN India Limited in October 2024.28

Litigation and regulatory matters

  • As of its annual report of 27 Aug 2026, AERA had appealed to the Supreme Court against tribunal rulings on Delhi's and Hyderabad's earlier tariffs and on Goa's tariff order for April 2023 to March 2028; Delhi airport had appealed its current tariff order.4142
  • As of its annual report of 27 Aug 2026, Airports Authority of India had appealed a Delhi High Court ruling of 7 Mar 2025 that upheld an award extending Delhi airport's concession by 1 year and 11 months for the pandemic period.43

Last updated

All 43 sources, each with its page
  1. 1. Annual report, 27 Aug 2026, page 7
  2. 2. Annual report, 27 Aug 2026, page 75
  3. 3. Exchange filing, 17 Aug 2026, page 3
  4. 4. Annual report, 27 Aug 2026, page 19
  5. 5. Annual report, 27 Aug 2026, page 16
  6. 6. Annual report, 27 Aug 2026, page 63
  7. 7. Annual report, 27 Aug 2026, page 20
  8. 8. Annual report, 27 Aug 2026, page 4
  9. 9. Annual report, 27 Aug 2026, page 19
  10. 10. Investor presentation, 12 Aug 2026, page 42
  11. 11. Annual report, 27 Aug 2026, page 21
  12. 12. Annual report, 27 Aug 2026, page 53
  13. 13. Earnings call, 13 Aug 2026, page 2
  14. 14. Investor presentation, 12 Aug 2026, page 17
  15. 15. Annual report, 27 Aug 2026, page 58
  16. 16. Annual report, 27 Aug 2026, page 15
  17. 17. Investor presentation, 12 Aug 2026, page 25
  18. 18. Annual report, 27 Aug 2026, page 7
  19. 19. Investor presentation, 12 Aug 2026, page 14
  20. 20. Annual report, 27 Aug 2026, page 66
  21. 21. Annual report, 27 Aug 2026, page 11
  22. 22. Annual report, 27 Aug 2026, page 19
  23. 23. Annual report, 27 Aug 2026, page 16
  24. 24. Annual report, 27 Aug 2026, page 17
  25. 25. Investor presentation, 12 Aug 2026, page 34
  26. 26. Annual report, 27 Aug 2026, page 59
  27. 27. Investor presentation, 12 Aug 2026, page 12
  28. 28. Annual report, 27 Aug 2026, page 15
  29. 29. Investor presentation, 12 Aug 2026, page 10
  30. 30. Exchange filing, 13 Mar 2026, page 1
  31. 31. Investor presentation, 12 Aug 2026, page 5
  32. 32. Earnings call, 13 Aug 2026, page 2
  33. 33. Earnings call, 13 Aug 2026, page 8
  34. 34. Earnings call, 13 Aug 2026, page 14
  35. 35. Earnings call, 13 Aug 2026, page 13
  36. 36. Exchange filing, 23 Sep 2026, page 1
  37. 37. Exchange filing, 2 Sep 2026, page 1
  38. 38. Exchange filing, 17 Aug 2026, page 1
  39. 39. Exchange filing, 17 Aug 2026, page 3
  40. 40. Earnings call, 13 Aug 2026, page 1
  41. 41. Annual report, 27 Aug 2026, page 60
  42. 42. Annual report, 27 Aug 2026, page 61
  43. 43. Annual report, 27 Aug 2026, page 60

Results

Consolidated; ₹ crore.GMR Airports quarterly results

Revenue growth, 12 months
+38.8%
Net profit growth, 12 months
–

Quarter to Jun 2026, against the quarter before

Revenue
₹3,964 Crup 0.66%
Net profit
₹148 Crdown 63.06%
Net margin
3.7%

Revenue by quarter

₹2,495 CrSep 24₹2,653 CrDec 24₹2,863 CrMar 25₹3,205 CrJun 25₹3,670 CrSep 25₹3,994 CrDec 25₹3,938 CrMar 26₹3,964 CrJun 26
Peak revenue ₹3,994 Cr, quarter to Dec 2025; lowest ₹2,495 Cr, quarter to Sep 2024

Net profit by quarter, a loss in red

  • Net profit
  • Loss
−₹429 CrSep 24₹202 CrDec 24−₹253 CrMar 25−₹137 CrJun 25₹35 CrSep 25₹174 CrDec 25₹400 CrMar 26₹148 CrJun 26
A loss in 3 of the 8 quarters shown
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue2,4952,6532,8633,2053,6703,9943,9383,964
Net profit−429202−253−13735174400148
Net margin−17.2%7.6%−8.8%−4.3%1.0%4.4%10.2%3.7%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

In the year to Mar 2026 the company reports one business segment, Airports, which carries all its revenue.

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearWith the demerger reinvestedEarnings growthChange in P/EDividend yield
1 year+11.9%–––0.0%
3 years+27.9%–––0.0%
5 years+28.4%+31.0%––0.0%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Return a year is the share as it traded across the demerger; the next column is the same return with the demerger reinvested, empty for a window with no demerger in it. Earnings growth and the change in P/E are left empty where earnings per share at either end of the window was a loss or is not on record. Earnings growth over 1 and 3 years is on profit divided by shares in issue at both ends: the earnings per share stated for one end does not match that year's profit and share count. Earnings growth and the change in P/E over 5 years are left empty: the earnings per share stated for one end does not match that year's profit and share count, and no share count is on record to work it out.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.GMR Airports shareholding pattern

Shareholding by group

  • Promoters67.48%
  • Foreign institutions22.94%
  • Indian institutions4.80%
  • Individuals and others4.78%
Holder
Aeroports de Paris S.A.Promoter26.21%
GMR ENTERPRISES PRIVATE LIMITEDPromoter13.65%
GMR INFRA ENTERPRISES PRIVATE LIMITEDPromoter11.54%
GMR BUSINESS AND CONSULTANCY LLPPromoter7.18%
GVL Investments Pvt. LtdPromoter4.28%
GMR INFRA SERVICES PRIVATE LIMITEDPromoter3.37%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Promoters have pledged 16.47% of their shares. Since Jun 2026: promoters +0.32 pts, foreign institutions +1.20 pts, Indian institutions −0.33 pts, mutual funds −0.19 pts.

Mutual fund holdings

149 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 99 of the 110 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 149 funds holding GMR Airports

Bought for the first time
2
Bought again
6
Added
38
Cut
72
Held unchanged
30
Sold out
6
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 28 Oct 2025.GMR Airports insider trading

Bought on the market Sold on the market
  • Promoters and promoter group2 purchases, 0 sales₹841 CrNo saleNet₹841 Cr6 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

GMR Airports competitors and peers

Transport Infrastructure, 18 listed companies, priced on 27 Oct 2026. The table lists the 8 companies closest to GMR Airports in market cap.Services companies

GMR Airports is not on the chart: it has no return on equity today

Return on equity across, P/E up, size is market cap
Company
Adani Ports and Special Economic Zone logoAdani Ports and Special Economic ZoneADANIPORTS4,04,230–4.21+23.8%––11.6%0.43%
JSW Infrastructure logoJSW InfrastructureJSWINFRA73,91951.264.11+17.0%−9.0%10.2%8.0%0.28%
Gujarat Pipavav Port logoGujarat Pipavav PortGPPL7,74713.863.24+25.0%+42.7%23.6%27.2%6.49%
BF Utilities logoBF UtilitiesBFUTILITIE1,688–4.80+0.4%−288.0%−5.6%−6.8%0.00%
Allcargo Terminals logoAllcargo TerminalsATL64615.571.83+12.2%+37.0%13.4%28.7%0.00%
Highway Infrastructure logoHighway InfrastructureHILINFRA518–2.27–––4.7%0.00%
Innovision logoInnovisionINNOVISION437–1.48––––0.00%
Dreamfolks Services logoDreamfolks ServicesDREAMFOLKS311–0.99−73.4%−133.6%−7.6%−15.1%0.00%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.GMR Airports dividend history

Ex-dateTypePer share
9 Sep 2014Final₹0.10
5 Sep 2013Final₹0.10
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.GMR Airports announcements

GMR Airports share price by year

Each calendar year to 2025.GMR Airports share price history

YearClose at year endChangeHighest closeLowest close
2025104.37+32.9%108.3569.29
202478.56−2.5%101.7374.65
202380.55+102.6%80.5536.95
2022Demerger39.75−13.1%48.4532.45
202145.75+72.6%47.1522.85
202026.50+26.2%28.8515.85
201921.00+28.0%22.3014.45
201816.40−26.9%24.1014.75
201722.45+89.5%22.4512.05
201611.85−27.7%16.4510.50
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. With the demerger of 11 Jan 2022 reinvested, the change in 2022 is −3.8%.

Recent sessions

The 9 trading days to 26 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
26 Oct 202685.7589.8885.3389.8887.632,17,90,50154.4%
23 Oct 202687.0087.1684.2286.3885.291,03,34,20657.1%
22 Oct 202685.4387.4085.2087.4086.5381,91,50846.9%
21 Oct 202690.0091.0786.5787.5488.611,27,32,28254.1%
19 Oct 202689.0090.4589.0090.1090.0266,33,00965.0%
16 Oct 202690.5090.6089.2089.5089.7669,04,87050.5%
15 Oct 202690.0291.3889.4490.4790.2374,48,13649.2%
14 Oct 202690.0090.3489.2290.2289.8186,86,42556.0%
13 Oct 202689.5090.4588.5190.3489.731,34,02,45558.6%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Stock split history

Ex-dateEventPrice factorWhat happened
11 Jan 2022Demerger0.9030Part of the business became a separate company. The factor is the opening price on the ex-date divided by the previous close. The chart shows earlier prices with the demerger reinvested.
11 Mar 2015Rights issue–Shareholders were offered new shares. Noted, not adjusted for.
1 Oct 2009Split0.5000Each share became 2.
28 Sep 2007Split0.2000Each share became 5.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout. Any other event is noted and not adjusted for.

Company details