GMR Expands Stake in Delhi Airport, Raises Holding to 74% with 10% Acquisition from Fraport

GMR Airports on Friday, March 7, announced that it has completed the acquisition of a 10% equity stake in Delhi International Airport Ltd (DIAL) from Fraport AG Frankfurt Airport Services Worldwide.

With this transaction, GMR’s shareholding in DIAL has risen from 64% to 74%, further consolidating its position as the airport operator.

Deal Finalised After Regulatory Approvals

The acquisition, which was initially announced on September 9, 2024, has now been finalised after securing all necessary regulatory approvals and meeting the required conditions.

The transfer of shares and the exchange of consideration between GMR and Fraport have been successfully concluded, marking the deal’s completion.

Q3 FY25 Performance

In a regulatory filing, GMR Airports also reported robust financial results for the third quarter ended December 31, 2024. The company posted a net profit of ₹202.1 crore, a significant turnaround from the net loss of ₹486.4 crore recorded in the same quarter of the previous fiscal year.

GMR Airports’ revenue from operations saw a notable increase of 19.2%, rising to ₹2,653.2 crore in Q3 FY2025 from ₹2,226.7 crore in the corresponding period of the previous fiscal year.

At the operating level, the company’s EBITDA (earnings before interest, tax, depreciation, and amortisation) surged by 48.3% to ₹991.7 crore, up from ₹668.6 crore in the same quarter of the previous fiscal year.

The EBITDA margin for the reporting quarter stood at 37.4%, a substantial improvement compared to the 30% margin recorded a year ago.

Stock Performance 

On March 07, 2025, GMR Airports share price ended 1.37% lower, closing at ₹72.70. According to BSE data, the stock recorded a total traded volume of 4.41 lakh shares, translating to a turnover of ₹3.24 crore.

According to exchange data, GMR Airports shares are trading at a price-to-earnings (P/E) ratio of -363.50x, based on its trailing 12-month earnings per share (EPS) of ₹-0.20, and a price-to-book (P/B) ratio of 1.61 at the current price.

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