GMR Airports Ltd

GMRAIRPORT

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Market Cap

₹ 1,10,764 Cr

P/E

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Performance

STEADY PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

LOW MARGIN

Technicals

Bullish

Risk

LOW RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

GMR Airports Limited is a leading global airport developer and operator, involved in the infrastructure sector with significant operations in India and international markets.

Recently, GMR Airports expanded its operations by taking over duty-free operations at Delhi and Hyderabad airports, showcasing its strategy to enhance non-aeronautical revenue streams.

The company recorded a substantial growth in revenue and EBITDA for Q2FY26, highlighting improved operational efficiencies and tariff revisions at Delhi Airport, despite geopolitical challenges.

GMR Airports is actively pursuing greenfield projects, with significant progress in the construction of new airports like Bhogapuram and Crete, aiming for a strategic positioning in lucrative markets.

The company is committed to ESG initiatives, having achieved several certifications and recognitions for its airports across India, reflecting its focus on sustainable and efficient airport management.

Sector

Infrastructure Developers & Operators

Industry

Construction - Civil / Turnkey - Large

Market Cap

1,10,764 Cr

Volatility

Moderate Risk

P/E Ratio

—

Industry P/E

23.2

PEG Ratio

—

P/B Ratio

—

52W High

110.30

52W Low

67.75

Sales CAGR

18.96%

218.62%

9.48%

10Y

0.22%

Profit CAGR

1.28%

—

10Y

—

ROE

TTM

23.95%

66.96%

-320.08%

10Y

-71.06%

ROCE

TTM

7.16%

6.00%

4.65%

10Y

4.22%

Technicals

‌

Forecasts

No. of Analysts

13

1Y Price Target

112.71 ▲ 8.85%

Q3 EPS Estimate

Q3 Revenue Estimate

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Price, EPS and Revenue Projections

Strong SellSellHoldBuyStrong Buy

Strong Buy

Buy

Hold

Sell

Strong Sell

updated on

Dec 03, 2025

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
GMRAIRPORT	104.90	1,10,764 Cr	—	0.00	0.00	23.95	7.16	-0.29
RVNL	313.25	65,313 Cr	57.48	6.83	0.55	11.88	13.06	5.75
NBCC	115.30	31,131 Cr	46.49	11.65	0.58	25.10	33.39	4.60
IRB	42.03	25,382 Cr	28.99	1.25	0.71	4.30	6.00	12.12
IRCON	157.05	14,771 Cr	24.58	2.29	1.69	9.30	8.06	2.96
AFCONS	400.00	14,680 Cr	29.22	2.72	0.63	9.32	11.63	2.80
CEMPRO	825.50	14,160 Cr	31.79	6.92	0.24	21.77	26.38	6.68

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	2,018	2,064	2,227	2,447	2,402	2,495	2,653	2,863	3,205	3,670
Expenses	1,265	1,337	1,558	1,630	1,506	1,636	1,662	1,854	2,041	2,223
Operating Profit	753	726	669	817	896	859	992	1,009	1,165	1,447
OPM %	37.30	35.19	30.03	33.38	37.31	34.43	37.38	35.25	36.34	39.43
Other Income	249	184	116	263	160	260	562	241	208	130
Interest	594	673	857	823	889	1,031	829	955	949	1,043
Depreciation	296	373	393	405	466	474	479	491	489	431
Profit Before Tax	112	-135	-465	-148	-300	-386	246	-196	-65	103
Tax %	86.26	-40.49	-4.64	-12.93	-12.62	-11.07	17.94	-29.01	-110.81	66.01
Net Profit	15	-190	-486	-168	-338	-429	202	-253	-137	35
EPS in Rs	-0.03	-0.09	-0.30	-0.11	-0.13	-0.29	0.22	-0.23	-0.20	-0.04

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	9,557	8,556	7,411	8,395	3,566	4,601	6,674	8,755	10,414	11,217
Expenses	6,325	6,535	5,870	5,927	2,778	2,498	4,968	5,789	6,648	7,192
Operating Profit	3,231	2,021	1,541	2,468	788	2,103	1,706	2,966	3,766	4,025
OPM %	33.81	23.62	20.79	29.40	22.09	45.70	25.56	33.88	36.16	35.88
Other Income	28	286	-1,426	-142	372	41	936	793	1,214	1,272
Interest	2,128	2,316	2,684	3,545	1,803	2,019	2,338	2,929	3,705	3,764
Depreciation	1,019	1,028	984	1,064	886	889	1,038	1,466	1,910	1,933
Profit Before Tax	113	-1,037	-3,554	-2,283	-1,530	-765	-735	-636	-635	-401
Tax %	659.10	-4.39	2.46	3.72	18.72	1.61	-15.41	-30.28	-28.58	-53.87
Net Profit	-632	-1,083	-3,466	-2,198	-1,243	-752	-848	-829	-817	-616
EPS in Rs	-0.44	-1.30	-2.62	-2.30	-2.65	-0.97	-0.19	-0.53	-0.43	-0.25
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	604	604	604	604	604	604	604	604	604	1,056
Reserves	4,387	4,739	3,215	-1,057	-3,062	-2,322	-1,421	-1,396	-2,768	-3,559
Borrowings	34,239	19,577	21,095	24,029	28,268	36,864	26,633	32,157	35,905	38,218
Other Liabilities	19,947	12,204	13,373	16,578	20,717	14,814	11,295	12,747	14,942	13,042
Total Liabilities	59,177	37,124	38,287	40,154	46,527	49,960	37,110	44,111	48,683	48,757
Fixed Assets	32,254	13,253	12,839	12,940	12,686	12,238	10,325	15,157	28,737	28,218
CWIP	2,155	239	589	858	3,811	6,622	10,176	11,175	1,674	3,808
Investments	8,805	14,943	15,675	13,255	13,611	10,208	3,798	4,478	4,425	4,288
Other Assets	15,963	8,689	9,184	13,100	16,419	20,892	12,810	13,301	13,847	12,443
Total Assets	59,177	37,124	38,287	40,154	46,527	49,960	37,110	44,111	48,683	48,757

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	3,498	4,504	2,347	2,052	1,376	3.43	3,256	2,199	3,880	3,443
Cash from Investing Activity	-1,668	1,488	-954	-3,610	-990	2,433	-2,043	-2,322	-5,789	-3,673
Cash from Financing Activity	-2,018	-5,727	-1,191	816	1,617	-1,056	-3,894	1,731	467	-1,010
Net Cash Flow	-188	265	202	-742	2,003	1,381	-2,681	1,608	-1,442	-1,240

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Jul 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	59.00%	59.07%	59.07%	59.07%	59.07%	59.07%	66.07%	66.07%	66.07%	66.24%	66.24%	66.24%
FIIs	28.36%	28.15%	28.00%	27.38%	26.78%	25.98%	14.76%	14.81%	14.85%	15.09%	15.74%	17.08%
DIIs	4.11%	4.43%	4.32%	5.23%	6.08%	5.76%	3.39%	4.47%	4.33%	4.13%	4.45%	4.81%
Public	8.52%	8.35%	8.61%	8.32%	8.07%	9.19%	15.78%	14.66%	14.75%	14.54%	13.57%	11.87%
Total Shareholders	4,65,886	4,43,708	4,61,999	5,42,960	6,93,438	8,66,851	8,81,670	8,53,872	8,68,022	8,56,740	8,14,655	7,61,800

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Feb 29, 2024	Bnp paribas arbitrage	Bulk	Sell	83.91	683.83 Cr	8,14,95,842	0.77
Dec 08, 2023	Stichting depositary apg emer...	Bulk	Buy	58.20	198.04 Cr	3,40,27,880	0.32
Dec 08, 2023	Nomura india investment fund ...	Bulk	Buy	58.20	363.67 Cr	6,24,85,851	0.59
Dec 08, 2023	Deccan value investors fund l.p.	Bulk	Sell	58.20	326.97 Cr	5,61,81,269	0.53
Dec 08, 2023	A/d investors fund l.p.	Bulk	Sell	58.20	440.28 Cr	7,56,49,350	0.71
Dec 08, 2023	Gqg partners emerging markets...	Bulk	Buy	59.09	547.39 Cr	9,26,36,787	0.87
Dec 08, 2023	Varanium india opportunity ltd	Bulk	Sell	58.47	812.76 Cr	13,90,04,685	1.31
Dec 08, 2023	Goldman sachs trust ii-goldma...	Bulk	Buy	59.09	1,124.16 Cr	19,02,45,637	1.80
Dec 08, 2023	Asn investments limited	Bulk	Sell	58.21	2,555.83 Cr	43,90,69,922	4.15
Jun 01, 2023	Varalakshmi enterprises llp	Insider - Promoter Group	Acquisition	40.91	14.32 Cr	35,00,000	0.05

Projection

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Announcements

Last 7 days

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Sentiment

Monthly Traffic Report

20 hours ago

GMR Airports Monthly Traffic Updates for November 2025

GMR Airports has released its monthly traffic data for November 2025, showing resilient growth in passenger traffic and record-breaking metrics at its airports.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q4 FY24

Investor Presentation

Q3 FY24

Investor Presentation

Q2 FY24

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Financial Statements

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Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	2,018	2,064	2,227	2,447	2,402	2,495	2,653	2,863	3,205	3,670
Expenses	1,265	1,337	1,558	1,630	1,506	1,636	1,662	1,854	2,041	2,223
Operating Profit	753	726	669	817	896	859	992	1,009	1,165	1,447
OPM %	37.30	35.19	30.03	33.38	37.31	34.43	37.38	35.25	36.34	39.43
Other Income	249	184	116	263	160	260	562	241	208	130
Interest	594	673	857	823	889	1,031	829	955	949	1,043
Depreciation	296	373	393	405	466	474	479	491	489	431
Profit Before Tax	112	-135	-465	-148	-300	-386	246	-196	-65	103
Tax %	86.26	-40.49	-4.64	-12.93	-12.62	-11.07	17.94	-29.01	-110.81	66.01
Net Profit	15	-190	-486	-168	-338	-429	202	-253	-137	35
EPS in Rs	-0.03	-0.09	-0.30	-0.11	-0.13	-0.29	0.22	-0.23	-0.20	-0.04

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	9,557	8,556	7,411	8,395	3,566	4,601	6,674	8,755	10,414	11,217
Expenses	6,325	6,535	5,870	5,927	2,778	2,498	4,968	5,789	6,648	7,192
Operating Profit	3,231	2,021	1,541	2,468	788	2,103	1,706	2,966	3,766	4,025
OPM %	33.81	23.62	20.79	29.40	22.09	45.70	25.56	33.88	36.16	35.88
Other Income	28	286	-1,426	-142	372	41	936	793	1,214	1,272
Interest	2,128	2,316	2,684	3,545	1,803	2,019	2,338	2,929	3,705	3,764
Depreciation	1,019	1,028	984	1,064	886	889	1,038	1,466	1,910	1,933
Profit Before Tax	113	-1,037	-3,554	-2,283	-1,530	-765	-735	-636	-635	-401
Tax %	659.10	-4.39	2.46	3.72	18.72	1.61	-15.41	-30.28	-28.58	-53.87
Net Profit	-632	-1,083	-3,466	-2,198	-1,243	-752	-848	-829	-817	-616
EPS in Rs	-0.44	-1.30	-2.62	-2.30	-2.65	-0.97	-0.19	-0.53	-0.43	-0.25
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	604	604	604	604	604	604	604	604	604	1,056
Reserves	4,387	4,739	3,215	-1,057	-3,062	-2,322	-1,421	-1,396	-2,768	-3,559
Borrowings	34,239	19,577	21,095	24,029	28,268	36,864	26,633	32,157	35,905	38,218
Other Liabilities	19,947	12,204	13,373	16,578	20,717	14,814	11,295	12,747	14,942	13,042
Total Liabilities	59,177	37,124	38,287	40,154	46,527	49,960	37,110	44,111	48,683	48,757
Fixed Assets	32,254	13,253	12,839	12,940	12,686	12,238	10,325	15,157	28,737	28,218
CWIP	2,155	239	589	858	3,811	6,622	10,176	11,175	1,674	3,808
Investments	8,805	14,943	15,675	13,255	13,611	10,208	3,798	4,478	4,425	4,288
Other Assets	15,963	8,689	9,184	13,100	16,419	20,892	12,810	13,301	13,847	12,443
Total Assets	59,177	37,124	38,287	40,154	46,527	49,960	37,110	44,111	48,683	48,757

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	3,498	4,504	2,347	2,052	1,376	3.43	3,256	2,199	3,880	3,443
Cash from Investing Activity	-1,668	1,488	-954	-3,610	-990	2,433	-2,043	-2,322	-5,789	-3,673
Cash from Financing Activity	-2,018	-5,727	-1,191	816	1,617	-1,056	-3,894	1,731	467	-1,010
Net Cash Flow	-188	265	202	-742	2,003	1,381	-2,681	1,608	-1,442	-1,240

Overview

Detailed Summary

GMR Airports Limited is a leading global airport developer and operator, involved in the infrastructure sector with significant operations in India and international markets.

Recently, GMR Airports expanded its operations by taking over duty-free operations at Delhi and Hyderabad airports, showcasing its strategy to enhance non-aeronautical revenue streams.

The company recorded a substantial growth in revenue and EBITDA for Q2FY26, highlighting improved operational efficiencies and tariff revisions at Delhi Airport, despite geopolitical challenges.

Sector

Infrastructure Developers & Operators

Industry

Construction - Civil / Turnkey - Large

Market Cap

1,10,764 Cr

Volatility

Moderate Risk

P/E Ratio

—

Industry P/E

23.2

PEG Ratio

—

P/B Ratio

—

52W High

110.30

52W Low

67.75

Sales CAGR

18.96%

218.62%

9.48%

10Y

0.22%

Profit CAGR

1.28%

—

10Y

—

ROE

TTM

23.95%

66.96%

-320.08%

10Y

-71.06%

ROCE

TTM

7.16%

6.00%

4.65%

10Y

4.22%

Gmr Airports Ltd

GMR Airports Ltd

GMRAIRPORT

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13

112.71 ▲ 8.85%

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Consolidated Quarterly Results (in ₹ Crores)

Consolidated Profit Loss (in ₹ Crores)

Consolidated Balance Sheet (in ₹ Crores)

Consolidated Cash Flows (in ₹ Crores)

Shareholdings

Shareholding History

Market Transactions

Projection

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GMR Airports Ltd

GMRAIRPORT

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Financial Statements

AI Powered Summary

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Consolidated Quarterly Results (in ₹ Crores)

Consolidated Profit Loss (in ₹ Crores)

Consolidated Balance Sheet (in ₹ Crores)

Consolidated Cash Flows (in ₹ Crores)

Peers

Price Chart Comparison

Oscillators

Bullish

Overall

Bullish

Moving Averages

Bearish

Overall

Bullish

Announcements

Overview

Sector

Industry

Market Cap

Volatility

P/E Ratio

Industry P/E

PEG Ratio

P/B Ratio

52W High