GMR Airports Infrastructure shoots up by 8% on

healthy business outlook

Shares of GMR Airports Infrastructure shot up 8.2 per cent at Rs 92.34 a piece on Friday's
intraday trade. A combined 3.07 million shares of the company changed hands on the BSE

SI Reporter New Delhi

3 min read Last Updated : Apr 26 2024 | 1:11 PM IST
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Shares of GMR Airports Infrastructure shot up 8.2 per cent at Rs 92.34 a piece on Friday’s
intraday trade. A combined 3.07 million shares of the company changed hands on the BSE. In
comparison the S&B BSE Sensex fell by 0.31 per cent 74,109 levels.

The stock of GMR Airports reached a 52-week high of Rs 94.30 on February 20, 2024, while
it hit a 52-week low at Rs 40 on May 29, 2023.

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 GMR Airports is engaged in development, operation and maintenance of airports along with
offering integrated security solutions. The airport portfolio comprises three operational assets
namely, Delhi International Airport, Hyderabad International Airport in India, and Mactan
Cebu International Airport in The Philippines.

GMR Airports Infrastructure Ltd

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Last Updated: Apr 26 2024 | 01:54 PM IST

The recent uptick in the stock price, however, comes amidst a positive revenue growth
environment for airports operators in India. According to a recent report by Crisil Ratings, a
10 per cent increase in passenger traffic on the high base of fiscal 2024, combined with
capital expenditure (capex)-linked tariff hikes and rising non-aeronautical revenue per
passenger, will help grow the revenue of leading private airport operators by around 30 per
cent in FY25.

The rising revenue will restore the cushion for debt servicing to around 1.4 times, taking it
back to the level last seen before the Covid-19 pandemic. Airports had dipped into their cash
reserves to service debt during this period, report by Crisil

“Taking off from the strong base of last fiscal, passenger traffic growth will continue its
momentum in fiscal 2025 and rise more than 10 per cent to over 415 million. Continuing
economic growth, opening of more airports and improving regional connectivity are
providing the tailwinds necessary for domestic traffic growth. On the international side,
growing business travel and easing visa requirements to countries such as Malaysia and
Vietnam, reducing wait times for visa applications to western Europe1 and improving
connectivity to western and Southeast Asia are significant positives,” said Ankit Hakhu,
Director, CRISIL Ratings

GMR Airports reported a 20 per cent year on year rise in Pax traffic in the month of March,
crossing over 120 million Pax mark (Highest-ever Pax Traffic) backed by robust domestic
traffic and significant upward-skewing International traffic. Its domestic traffic grew by 17
per cent YoY and International Traffic rose 33 per cent YoY in March 2024.