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GMRAIRPORT · NSE · Airport & Airport services

GMR Airports Ltd

What the numbers mean, from its filings and the exchange. Data as of 12 Oct 2026.
Mid Cap · AMFI list Jan-Jun 2026 · Vendor sector: Real Estate
fair low confidence No valuation within 120 days; P/E 201 vs peers 30.1 (17th of 18); P/B 1.5 vs peers 5.1 (4th of 17).
Statements through FY2026Prices adjusted for 2 corporate actionsNot yet reviewed by the adversarial model

What is GMR Airports's share price today?

GMR Airports last traded at ₹89.50 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 3.0% on the day, up 2.7% over a year. Its 52-week range is ₹84 to ₹116. The live price is in the app.

₹89.50 −3.0% today
+2.7% over 1 year · NSE, as of 12 Oct 2026, 11:00 pm IST
60 month-end closes, 31 Oct 2021 to 30 Sep 2026, adjusted for splits and bonuses
52-week range17% of the way up
Low ₹84High ₹116

What is GMR Airports's market cap?

GMR Airports's market capitalisation is about ₹97,470 crore: what it would cost to buy every share at today's price. That makes it the 21st largest mid cap company we cover.

₹97,470 Cr Mid Cap21st largest mid cap company
Mid Cap means the companies ranked 101 to 250 by size, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →

Key facts

From the exchange
Symbol
NSE: GMRAIRPORT
ISIN
INE776C01039
Cap bucket
Mid Cap, 21st largest by market cap
Industry (NSE)
Services › Transport Infrastructure › Airport & Airport services
Listed since
2006
Futures and options
Traded

Is GMR Airports overvalued?

Fair, with low confidence: no valuation within 120 days; P/E 201 vs peers 30.1 (17th of 18); P/B 1.5 vs peers 5.1 (4th of 17).

Valuation

Latest price and trailing 12 months
P/E 200.67
vs peers 30.1 · 17th of 18
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B 1.52
vs peers 5.1 · 4th of 17
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap ₹97,470 Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield 11.8%
vs peers 2.5% · 1st of 13
Last year's dividends as a share of today's price. Learn more →
PEG (vendor) Not available
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth Not available
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
2 models could be judged
Skipped — Fair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored; P/E vs own history: 60 of 36 months of P/E history

Our valuation range

🔒 Pro
Value range, implied growth at today's price, and the nine models behind it: in the app.

Is GMR Airports a quality business?

Quality score 38.9, 17th of 20 in its peer set; CAUTION on 23 of 30 flags judged.

Quality and risk

Data as of 12 Oct 2026
Business quality Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score 38.9
vs peers 54.5 · 17th of 20
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level CAUTION
23 of 30 flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →

Profitability

ROE 0.3%
vs peers 11.8% · 19th of 20
Return on equity: profit as a share of shareholders' money. Learn more →
ROCE 2.0%
vs peers 10.8% · 19th of 20
Return on capital employed: operating profit as a share of all the capital in the business, debt and equity. Learn more →
Profit margin 2.9%
vs peers 17.3% · 17th of 20
Profit after everything, as a share of revenue. Learn more →
EPS ₹0.45
Trailing 12 months
Profit for each share over the last 12 months.

Scorecard

🔒 Pro
Health scores and red flags with their values and history: in the app.
See the scorecard →
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Has GMR Airports made money for shareholders?

Yes: +2.7% over one year.

Shareholder returns

1-year return +2.7%
Price only
What the share price did over the last 12 months. Learn more →
5-year return Not available
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer Not available
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →

Returns

3Y and 5Y are yearly averages
1W
−0.5%
1M
−0.7%
3M
−19.5%
6M
−2.8%
1Y
+2.7%
3Y
—
5Y
—
— not available

Does GMR Airports pay a dividend?

Yes. GMR Airports's dividend yield is 11.81% at the latest price; the last payout was ₹0.09 a share, ex-dividend 9 Sep 2014.

Dividends

Per share, by ex-dividend date
Dividend yield11.81%
The past 12 months' dividends as a share of today's price.
9 Sep 2014 · Final₹0.09
5 Sep 2013 · Final₹0.09
Payout ratio🔒 In the app
The share of profit paid out as dividends; a very high share leaves little to reinvest.
Dividend growth, 5 years🔒 In the app
How fast the dividend per share has grown a year.
Years without a miss🔒 In the app
How many years in a row a dividend has been paid.

Is GMR Airports growing?

Revenue 3 years 26.6% a year; revenue 5 years 26.4% a year. History break: demerger 2022-01-11 in the 5-year growth figures.

Growth

Statements through FY2026 (Mar-26)
Revenue 3 years 26.6% a year
vs peers 17.0% · 5th of 18
Compound annual growth of revenue over three years. Learn more →
Profit 3 years Not available
Compound annual growth of net profit over three years. Learn more →
Revenue 5 years 26.4% a year
Compound annual growth of revenue over five years. Learn more →
History break: Demerger 2022-01-11 in the 5-year growth figures.
Profit 5 years Not available
Compound annual growth of net profit over five years. Learn more →
History break: Demerger 2022-01-11 in the 5-year growth figures.
EPS 3 years Not available
Growth in earnings per share, so dilution counts against the company. Learn more →
EPS 5 years Not available
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
History break: Demerger 2022-01-11 in the 5-year growth figures.
P/E vs own history Not available
Today's P/E against its own 5-year median; negative is cheaper than its history. Learn more →
History break: Demerger 2022-01-11 in the 5-year growth figures.

How did GMR Airports do last quarter?

GMR Airports reported revenue of ₹3,964 Cr, up 42.2% on a year earlier and a net profit of ₹148 Cr, down 157.8% in the Jun 2026 quarter.

Latest quarter

Jun 2026
Revenue, latest quarter₹3,964 Cr
+42.2% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹148 Cr
−157.8% on a year earlier
What was left for shareholders after every cost and tax.

How does GMR Airports compare with its peers?

Compared with 19 Services (the sector, as the industry was too small); 17th of 18 on P/E; 17th of 20 on quality score.

Compared with 19 Services (the sector, as the industry was too small)

19 companies

GMR Airports against its peers

Largest 10 of 19 peers, by market cap
CompanyMarket capP/EP/BROEROCE1YQuality 🔒Rank 🔒
GMR Airports Ltd₹97,470 Cr200.71.50.3%2.0%+2.7%
Adani Ports & Special Economic Zone Ltd₹4.1 L Cr30.14.93.5%8.0%+22.5%
Interglobe Aviation Ltd₹1.9 L Cr—23.6-31.8%3.8%−16.5%
JSW Infrastructure Ltd₹78,929 Cr47.69.73.2%8.7%+10.8%
Container Corporation Of India Ltd₹33,664 Cr27.02.59.7%12.5%−16.8%
National Highways Infra Trust₹32,539 Cr41.8—13.0%10.3%+18.4%
Delhivery Ltd₹30,009 Cr320.43.10.9%1.6%−15.5%
Great Eastern Shipping Company Ltd₹21,896 Cr5.81.414.0%13.9%+46.6%
Cube Highways Trust₹20,828 Cr75.21.510.5%9.4%+14.1%
Firstsource Solutions Ltd₹18,955 Cr27.66.220.8%19.9%−18.3%
eClerx Services Ltd₹17,557 Cr23.98.235.6%40.0%−9.9%
Peer median—30.15.111.8%10.8%+10.3%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.

Full peer comparison

🔒 Pro
Every peer, every figure, the ranks and the quality and forensic scores side by side: in the app.

Who owns GMR Airports?

GMR Airports is held by promoters 67.2%, foreign institutions 21.7%, domestic institutions 5.1%.

Shareholding pattern

Latest filing, percent of shares
Promoters67.2%
The founders and controlling group.
Foreign institutions21.7%
Overseas funds investing through the FPI route.
Domestic institutions5.1%
Indian insurers, banks, pension and mutual funds together.
Mutual funds2.5%
Indian mutual fund schemes; part of domestic institutions.
Retail and others2.4%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.

What do analysts say about GMR Airports?

8 analysts cover GMR Airports, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Analyst consensus

8 analysts
ConsensusBuy
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.

What does GMR Airports do and what is it sensitive to?

GMR Airports Limited operates airport infrastructure across India and internationally, generating revenue from aeronautical services (landing fees, parking, passenger services), non-aeronautical services (duty-free retail, food and beverage, advertising, cargo), and ancillary businesses. Sensitive to: passenger traffic growth and economic cycles.

Business-model card

FY2025 · 41 verified
3Revenue
3Channels
3Regulators
4Reg. dependencies
6Sensitivities
3Costs
3Geographies

GMR Airports Limited operates airport infrastructure across India and internationally, generating revenue from aeronautical services (landing fees, parking, passenger services), non-aeronautical services (duty-free retail, food and beverage, advertising, cargo), and ancillary businesses. It earns primarily through long-term concession agreements with government authorities and tariff-regulated aeronautical charges, supplemented by consumer-facing retail and service revenues.

Revenue by segment

year ended March 31, 2025
Income from security and other services16.5%
Income from commercial property development58.2%
Income from management and other services12.2%
Net gain on sale or fair valuation of investments1.2%
Interest income on bank deposit and others7.7%
Others4.3%

Revenue engine

3 verified
Aeronautical revenue from airport operations
Landing and parking fees, passenger service charges, and aircraft-related services regulated by tariff authority (AERA); consolidated total income rose 40% to ₹15,201 crore.
Non-aeronautical adjacency businesses including duty-free retail
Revenue from consumer retail operations at airports, including duty-free shops; identified as a major expansion revenue stream alongside infrastructure business.
Cargo and logistics services
Air cargo transportation and related ground handling services through subsidiary GMR Cargo and Logistics Limited.

Customers & channels

3 verified
Airlines and air transport operators
Primary aeronautical customers paying landing, parking and passenger facility fees under concession agreements; their traffic volumes and fleet expansion directly drive airport utilization and revenue.
Passengers (B2C retail and services)
Direct consumers of duty-free retail, food and beverage, parking, visitor entry tickets, and left luggage services at airport terminals.
Government and regulatory bodies (B2G)
Government of India and Ministry of Civil Aviation via long-term concession agreements; concessions may be affected by changes in government.

Regulators

3 verified
Airports Economic Regulatory Authority (AERA)
Sets and approves multi-year aeronautical tariffs for major airports; issues consultation papers and final tariff orders controlling landing fees, parking charges and passenger facility fees.
Ministry of Civil Aviation
Governs aviation policy, hub-and-spoke operations, and airport concession agreements; sets strategic direction for India's aviation sector development.
Reserve Bank of India (RBI)
Regulates foreign exchange management, external commercial borrowings, and monetary policy affecting interest rates and capital availability.

Regulatory dependencies

4 verified
Multi-year tariff regulation (AERA approval)
Aeronautical revenue (landing fees, parking, PSF) is capped and controlled by AERA's regulatory orders; tariff revisions occur on multi-year cycles (e.g., CP-4); higher tariffs approved by AERA increase aeronautical revenue but may be constrained by competition and demand.
Concession agreements and government policy
Long-term airport concessions granted by government are subject to political change; government shift may alter concession terms or renewal prospects.
Foreign exchange and external commercial borrowing regulation (RBI/FEMA)
Overseas subsidiaries and international operations (Greece, Kenya, Abu Dhabi) are subject to FEMA guidelines, ECB regulations and foreign investment policies; FX management impacts consolidated earnings.
1 more statement
Data protection and cybersecurity regulation (DPDP Act)
Personal data protection requirements and cyber security standards under DPDP rules and aviation data handling norms; non-compliance risks regulatory sanctions and customer trust loss.

Sensitivities

6 verified
Passenger traffic growth and economic cycles
Domestic air traffic grew 9.1% in prior year, expected 6-8% in current year; international traffic expected 7-11% growth. Economic downturns, inflation, and lower consumer spending reduce air travel demand and adjacency revenue (duty-free, F&B).
Oil and aviation fuel prices
Rising crude oil prices increase airline operating costs and fuel surcharges, reducing profitability and capacity expansion; historically resolve without lasting sector impact.
Geopolitical conflicts and airspace closures
West Asia conflict impacts traffic to and from the region; prolonged Pakistan airspace closure impairs route economics; civil unrest in South-East/South Asia reduces passenger traffic.
3 more statements
Interest rate changes
₹8,642 crore in fixed-rate borrowings with minimal floating exposure (₹1.68 crore). 50 bps rate rise reduces profit by ₹0.01 crore. Rising rates increase debt servicing costs and reduce project IRRs.
Consumer discretionary spending and inflation
Adjacency business (duty-free retail, F&B) is prone to economic downturns, high inflation, and lower spending power; CPI inflation at historic low 0.25% supports discretionary consumption.
Aircraft maintenance and airline downtime
Post-Air India crash (June 2025), heightened aircraft maintenance scrutiny has increased airline downtime and maintenance costs, reducing per-aircraft flight hours and airport utilization.

Cost inputs

3 verified
Employee and worker wages and benefits
6,512 employees and 11,444 workers on payroll (consolidated); fixed labor cost for airport operations and security services.
Ground handling, baggage and security services
Third-party outsourced security and ground services; technology-driven solutions (intelligent surveillance, automation) are being deployed to reduce labor cost.
Related party purchases and services (45.1%)
45.09% of purchases are from related parties (consolidated); operating efficiency depends on related party supply chain efficiency and pricing.

Geographies

3 verified
Delhi (Indira Gandhi International Airport)
Flagship major airport and India's first hub-and-spoke gateway; largest revenue contributor; subject to AERA tariff regulation and CP-4 tariff order dated 28 March 2025.
Hyderabad, Bangalore, Mumbai, Nagpur (domestic airports)
5 domestic airports across India serving regional and national air travel; consolidated with Delhi to benefit from domestic traffic growth (6-8% expected).
Greece (Crete airport), Kenya, Middle East (Abu Dhabi, Kuwait, Bahrain, Qatar, Saudi Arabia, UAE)
International airport concessions with geopolitical risk exposure; subject to currency fluctuation (EUR 33.08 crore borrowing), political instability in West Asia, and conflict impacts on traffic routes.
Each statement is checked word for word against the FY2025 annual report; the passages are in the app.

What changed recently?

Q1 FY2027 results filed (12 Aug 2026).

Change log

8 entries · newest first
  1. Results filedQ1 FY2027 results filed.
  2. Results filedQ4 FY2026 results filed.
  3. Results filedQ3 FY2026 results filed.
  4. Results filedQ2 FY2026 results filed.
  5. Results filedQ1 FY2026 results filed.
  6. Results filedQ4 FY2025 results filed.
  7. Corporate actionAnnual General Meeting.
  8. Corporate actionAnnual General Meeting.
Get alerts →Sign in to be told when any of these change.

What this page does not tell you

What could not be judged, and why. Never empty.
  • Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored; P/E vs own history: 60 of 36 months of P/E history.
  • FlagsCAUTION on 23 of 30 flags judged; 4 red; 7 could not be judged.
  • History breakDemerger 2022-01-11 in the 5-year growth figures: those figures span the accounts before and after it.
  • Data gapsPEG (vendor), PEG on our 3-year EPS growth, Business quality, 5-year return, Wealth destroyer, Profit 3 years and 4 more: not available yet.
Not applicable to this company · 1
  • Altman ZAltman Z is a manufacturing model; a service business has no inventory or plant turnover for it to read.

What this page rests on

✓10 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓184 months of month-end prices, adjusted for bonuses and splits (2 corporate actions)○no valuation of ours yet✓business-model card FY2025 · 41 verified

Questions people ask

What is GMR Airports's share price today?

GMR Airports last traded at ₹89.50 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 3.0% on the day, up 2.7% over a year. Its 52-week range is ₹84 to ₹116. The live price is in the app.

What is GMR Airports's market cap?

GMR Airports's market capitalisation is about ₹97,470 crore: what it would cost to buy every share at today's price. That makes it the 21st largest mid cap company we cover.

Is GMR Airports Ltd a large cap, mid cap or small cap?

GMR Airports Ltd (GMRAIRPORT) is a mid cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.

What is GMR Airports Ltd's P/E ratio?

200.67, vs peers 30.1 · 17th of 18. Price divided by last year's earnings per share: how many years of today's profit you pay for.

Is GMR Airports Ltd overvalued?

Fair, with low confidence: no valuation within 120 days; P/E 201 vs peers 30.1 (17th of 18); P/B 1.5 vs peers 5.1 (4th of 17).

How does GMR Airports Ltd make money?

GMR Airports Limited operates airport infrastructure across India and internationally, generating revenue from aeronautical services (landing fees, parking, passenger services), non-aeronautical services (duty-free retail, food and beverage, advertising, cargo), and ancillary businesses. It earns primarily through long-term concession agreements with government authorities and tariff-regulated aeronautical charges, supplemented by consumer-facing retail and service revenues.

Who are GMR Airports Ltd's peers?

Compared with 19 Services (the sector, as the industry was too small): Adani Ports & Special Economic Zone Ltd, Interglobe Aviation Ltd, JSW Infrastructure Ltd, Container Corporation Of India Ltd, National Highways Infra Trust and 14 more. The app shows how they compare on every figure.

Is this investment advice?

No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.

How did GMR Airports do last quarter?

GMR Airports reported revenue of ₹3,964 Cr, up 42.2% on a year earlier and a net profit of ₹148 Cr, down 157.8% in the Jun 2026 quarter.

Who owns GMR Airports?

GMR Airports is held by promoters 67.2%, foreign institutions 21.7%, domestic institutions 5.1%.

Does GMR Airports pay a dividend?

Yes. GMR Airports's dividend yield is 11.81% at the latest price; the last payout was ₹0.09 a share, ex-dividend 9 Sep 2014.

What do analysts say about GMR Airports?

8 analysts cover GMR Airports, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Everything on GMR Airports, and 6,621 other companies, with 212 filters and the full peer tables

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