GMR Airports looks abroad, Jakarta emerges as promising opportunity

26 Feb 2024 CW Team

Operating five airports?three in India (including Delhi) and two overseas?GMR Airports Infrastructure witnessed a 22% year-on-year increase in passenger traffic, totalling around 100 million passengers in the first nine months of FY24. Notably, the country's busiest airstrip, Delhi Aiport, contributes significantly to this traffic.

GQG Partner, led by Rajiv Jain, holds a nearly 5% stake in the company. Jain expressed bullish sentiments in a recent television interview, predicting a valuation of over $10 billion solely for Delhi Airport. The company's stock has surged more than twofold over the past year.

Regarding international opportunities, GMR Airports Infrastructure clarified during the conference that it isn't aggressively pursuing airport acquisitions but rather focusing on assets that could enhance the international passenger mix. Targeting gateway airports in regions with established regulatory frameworks, the company aims to collaborate with local partners well-versed in local regulations to streamline operations.

Within its overseas portfolio, GMR oversees airports in Indonesia and the Philippines, both experiencing notable increases in passenger traffic in FY24. Notably, the airport in Cebu witnessed a remarkable 54% surge.

While greenfield airport opportunities are limited in the domestic market, the company is exploring brownfield projects with the intent of participating in airport privatisation ventures, prioritising those with capacities exceeding 5 million passengers annually.

GMR Airports Infrastructure has succeeded with its acquired airports, exemplified by Goa Airport turning EBITDA positive within three quarters. The company is also expanding Goa's capacity to 8 million passengers, potentially growing to 33 million over a 55-year concession period. Hyderabad International Airport saw increased ownership last year, with GMR acquiring an additional 11% stake from Malaysia Airports Holding, bringing its total ownership to 74%.

Airport; Expanision; Middle East; Jakarta; South Asia; Philippines; Indonesia

GMR Airports Infrastructure, the airport operator, is actively exploring opportunities abroad, particularly in the Middle East, South Asia, the Philippines, and Jakarta. Meanwhile, within India, the company is eyeing available brownfield prospects. At a recent analyst conference named Chasing Growth 2024, organised by Kotak Institutional Equities, the management emphasised its interest in airports capable of accommodating over 5 million passengers. Operating five airports?three in India (including Delhi) and two overseas?GMR Airports Infrastructure witnessed a 22% year-on-year increase in passenger traffic, totalling around 100 million passengers in the first nine months of FY24. Notably, the country's busiest airstrip, Delhi Aiport, contributes significantly to this traffic. GQG Partner, led by Rajiv Jain, holds a nearly 5% stake in the company. Jain expressed bullish sentiments in a recent television interview, predicting a valuation of over $10 billion solely for Delhi Airport. The company's stock has surged more than twofold over the past year. Regarding international opportunities, GMR Airports Infrastructure clarified during the conference that it isn't aggressively pursuing airport acquisitions but rather focusing on assets that could enhance the international passenger mix. Targeting gateway airports in regions with established regulatory frameworks, the company aims to collaborate with local partners well-versed in local regulations to streamline operations. Within its overseas portfolio, GMR oversees airports in Indonesia and the Philippines, both experiencing notable increases in passenger traffic in FY24. Notably, the airport in Cebu witnessed a remarkable 54% surge. While greenfield airport opportunities are limited in the domestic market, the company is exploring brownfield projects with the intent of participating in airport privatisation ventures, prioritising those with capacities exceeding 5 million passengers annually. GMR Airports Infrastructure has succeeded with its acquired airports, exemplified by Goa Airport turning EBITDA positive within three quarters. The company is also expanding Goa's capacity to 8 million passengers, potentially growing to 33 million over a 55-year concession period. Hyderabad International Airport saw increased ownership last year, with GMR acquiring an additional 11% stake from Malaysia Airports Holding, bringing its total ownership to 74%.

Real Estate

22 Aug 2025

Heena Lalwani Buys Rs 1.13 Billion Juhu Apartment

Heena Lalwani, promoter of Aatman Innovations Private Limited, has purchased a luxury apartment worth Rs 1.13 billion in Mumbai’s upscale Juhu locality, according to property registration documents accessed by Zapkey.com.The 9,862 sq ft apartment, located on the 10th floor of Lodha Developers’ Avalon Tower, was acquired at Rs 115,000 per sq ft and comes with five car parking spaces. The deal, registered on 18 August 2025, also included the payment of Rs 68 million in stamp duty and a Rs 30,000 registration fee.Lodha Developers did not respond to queries regarding the transaction, while the..

Real Estate

22 Aug 2025

Godrej Buys KPHB Land for Rs 7 Billion in E-Auction

An acre of prime land in Kukatpally Housing Board (KPHB), Hyderabad, was auctioned for Rs 7 billion, with the Telangana Housing Board generating Rs 5.47 billion from the sale of 7.8 acres through e-auction on 20 August 2025.The auction notification was issued last month, attracting bids from Godrej Properties, Aurobindo Realty, Prestige Estates, and Ashoka Builders, according to Board vice-chairman V.P. Gautham. With an offset price of Rs 4 billion per acre, the three-hour auction saw 46 bid increases, before Godrej Properties acquired the land.Revenue generated from the auction will be utilis..

Real Estate

22 Aug 2025

HMDA to Auction 93 Prime Plots in September

The Hyderabad Metropolitan Development Authority (HMDA) is preparing to conduct a three-day auction of prime open plots across Hyderabad, Rangareddy, and Medchal-Malkajgiri districts this September.According to official reports, the e-auction will take place on 17, 18, and 19 September, offering 93 plots. Of these, 70 are located in the Bachupally HMDA layout, with the remainder spread across Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, Medipally, and Bachupally village.The highest upset price has been fixed at Rs 175,000 per square yard for a land parce..