Date: August 12, 2026

Financial Performance Summary

Consolidated Financial Results (INR Crores):

| Metric | Q1FY27 | Q4FY26 | Q1FY26 | FY26 |

| Total Income | 4,085 | 4,043 | 3,321 | 15,201 |

| Net Income | 3,107 | 3,114 | 2,510 | 11,757 |

| EBITDA | 1,568 | 1,549 | 1,280 | 6,150 |

| Interest & Finance Charges | 938 | 950 | 949 | 3,859 |

| Depreciation | 456 | 452 | 489 | 1,837 |

| PBT (Before exceptional items & share of JVs) | 174 | 147 | (158) | 455 |

| Share of Profit from JVs/Associates | 49 | 161 | 47 | 240 |

| Exceptional Item | 0 | (6) | 46 | (108) |

| PBT | 223 | 302 | (65) | 586 |

| Profit After Tax | 148 | 400 | (137) | 472 |

Key Highlights:

  • Total Income increased by 23% YoY to INR 4,085 Crs in Q1FY27
  • EBITDA increased by 22% YoY to INR 1,568 Crs in Q1FY27
  • PAT of INR 148 Crs reported in Q1FY27, the fourth consecutive quarter of positive PAT
  • GAL owned airports handled 30.5mn passengers in Q1FY27

Segment Performance

Delhi Airport (DIAL)

  • Passenger Traffic: 20.4mn passengers in Q1FY27, up 6.9% YoY from 19.1mn in Q1FY26
  • Total Income: INR 2,068 Crs, up 17.1% YoY (Aero revenues rose 24% YoY, non-aero revenues rose 13% YoY)
  • EBITDA: INR 703 Crs, up 10.8% YoY
  • PAT: INR 70 Crs vs. INR 49 Crs in Q1FY26 (fifth consecutive quarter of positive PAT)
  • Handled highest ever passenger ATMs of ~120,900 and cargo volumes of ~310.6 kT
  • Delhi Duty Free revenue at INR 5.8bn (stable vs Q4FY26), SPP at INR 1,116 vs INR 1,038 in Q4FY26

Hyderabad Airport (GHIAL)

  • Passenger Traffic: 7.1mn passengers, down 12.1% YoY from 8.1mn in Q1FY26
  • Total Income: INR 627 Crs (almost unchanged YoY) with Aero Revenue down 7.2% YoY and Non-Aero Revenue up 11.9% YoY
  • EBITDA: INR 390 Crs (almost unchanged YoY)
  • PAT: INR 85 Crs vs INR 63 Crs in Q1FY26
  • Handled highest ever cargo volumes of 49.8 kT
  • Hyderabad Duty Free revenue at INR 1.1bn (stable vs Q4FY26), achieved highest ever quarterly SPP of INR 956

Mopa (Goa) Airport

  • Passenger Traffic: 1.16mn passengers, down 5.6% YoY from 1.23mn in Q1FY26
  • Total Income: INR 126 Crs, up 23.4% YoY (Aero Revenues increased 31% YoY, Non Aero Revenues increased 8% YoY)
  • EBITDA: INR 40 Crs, up 74% from INR 23 Crs in Q1FY26
  • Captured ~44% market share of Goa system traffic

Medan Airport (Indonesia)

  • Passenger Traffic: 1.81mn passengers, up 2.4% YoY
  • Total Income: INR 147 Crs, up 9.3% YoY (Aero Revenue up 8% YoY, Non-Aero Revenue up 15% YoY)
  • EBITDA: INR 44 Crs, up 46% YoY

Key Developments

Expanding Operational Portfolio:

  • Nagpur Airport: Takeover of operations completed on June 25, 2026. Initial focus on modernizing and upgrading existing infrastructure
  • Bhogapuram Airport: Inaugurated on August 1, 2026 by Hon. Prime Minister of India. Commercial operations to commence shortly. Initial capacity of 6mn passengers annually, scalable to 40mn

Airport Adjacency Businesses:

  • Duty Free: Delhi and Hyderabad maintained stable revenues despite softness in international traffic
  • Cargo: Mopa (Goa) establishing on-site packhouse to enable incremental perishable food export volumes

Credit Rating Upgrade:

  • CARE upgraded GAL ratings to CARE A+ (Positive) from CARE A (Stable) for INR 15bn NCBs and Long-Term Bank Facilities
  • Upgraded to CARE A1+ from CARE A1 for Short-Term Bank Facilities

Strategic MRO Agreement:

  • GMR Aero Technic signed license agreement with Honeywell Aerospace for maintenance, repair and overhaul of 7 Honeywell aerospace LRUs installed on LEAP engines

Airport Land Development:

  • DIAL: Construction underway on Aerocity One commercial office building (~1mn sq.ft. BUA), Terminal Hotel (~380 keys), Hospital Project (500+ beds)
  • GHIAL: Construction underway on GMR Interchange retail project (~0.77mn sq.ft. BUA)
  • Mopa (Goa): Signed sub-license agreements for retail interchange, MICE hotel, and K-12 school development

Hub Strategy:

  • Delhi Airport became India's first and leading hub, connecting spoke cities through Air India's "Easy Connect" services

Traffic Challenges

  • Hyderabad Airport: International traffic declined due to West Asian geopolitical instability and rising airfares; Domestic traffic declined due to route rationalization by airlines

Awards and Recognition

  • DIAL & GHIAL: Both earned Level 5 Airport Customer Experience Accreditation from ACI
  • Mopa (Goa): Achieved ACI Airport Carbon Accreditation Level 3+ certification

ESG Initiatives

  • DIAL: GMR Aerocity achieved IGBC Green City Platinum Rating
  • Bhogapuram: Started new Skill Development Centre with 250 youth enrolled across 12 vocational training programmes

About the Company

GMR Airports Limited is a leading global airport platform company with over two decades of experience. Served over 121 million passengers in FY26 with seven operational airport assets across India and overseas, including Delhi, Hyderabad, Goa, Nagpur, Bidar, Visakhapatnam, and Medan Airport in Indonesia. Developing greenfield airport project in Crete, Greece.