GMR Airports surges on bagging LOIA from Delhi International Airport
GMR Airports is currently trading at Rs 90.44, up by 1.75 points or 1.97% from its previous closing of Rs 88.69 on the BSE.
The scrip opened at Rs 88.77 and has touched a high and low of Rs 90.55 and Rs 88.77 respectively. So far 185811 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 1 has touched a 52-week high of Rs 98.20 on 17-Sep-2024 and a 52-week low of Rs 67.75 on 28-Feb-2025.
Last one week high and low of the scrip stood at Rs 91.06 and Rs 87.54 respectively. The current market cap of the company is Rs 95453.14 crore.
The promoters holding in the company stood at 66.24%, while Institutions and Non-Institutions held 20.19% and 13.57% respectively.
GMR Airports has received a Letter of Intent to Award (LOIA) from Delhi International Airport (DIAL), joint venture company formed as a consortium between the company and Airports Authority of India. In this regard, the company has emerged as the selected bidder to finance, design, develop, construct, operate, manage and maintain the cargo city at the Indira Gandhi International Airport, New Delhi (Project) for an initial period of up to year 2036, which may further be extended by 30 additional years.
The project involves developing state of the art Cargo and Logistics facilities over a total of 50.5 acres land within Indira Gandhi International Airport, which includes a 10-acre optional land parcel that may be taken up in the future. The project is based on the revenue share payment model to DIAL which would be ascertained based on the revenue from Cargo City business on year on year basis with a Minimum Monthly Guarantee payable by the company to DIAL, for an initial period of upto year 2036 amounting to an estimated aggregate amount of Rs 415.74 crore.
GMR Airports (formerly GMR Airports Infrastructure), a subsidiary of GEPL, is engaged in development, operation and maintenance of airports along with offering integrated security solutions.
