GMR Airports bets on non-aero retail, eyes 4–5% passenger growth in FY27
GMR Airports is leaning on its non-aero business — airport retail, F&B and duty-free — which now exceeds Hyderabad's aero earnings. The operator guided 4–5% FY27 passenger growth, posted Q4 revenue of ₹4,043 cr and 38.3% margins, and is layering on real estate plus Nagpur and Bhogapuram capacity adding 2.5M pax each.
What happened
GMR Airports targets 4-5% passenger growth in FY27, leaning on non-aero (airport retail) business which now exceeds Hyderabad's aero earnings, plus new
Key facts
- 4-5% passenger growth FY27
- Revenue ₹4,043 crore Q4
- Net profit ₹400 crore
- Margins 38.3%
- 2.5 million passengers added per new airport
- Market cap ₹1,09,390.99 crore
- Stock ₹103.65
Why this matters
Scout retail, F&B, duty-free and airport-adjacent real estate partners or acquisition targets that can plug into Hyderabad's proven non-aero playbook and scale into the incremental 5M pax from Nagpur and Bhogapuram.