GMR Airports Limited, a subsidiary of GMR Infrastructure Limited, is one of India’s leading private airport operators, managing the Indira Gandhi International Airport (Delhi), Rajiv Gandhi International Airport (Hyderabad), Manohar International Airport (Goa), and international assets in Greece and the Philippines. As of January 2026, the company is emerging from a prolonged restructuring phase, with strong revenue recovery driven by post-pandemic air traffic rebound and new airport commissions. However, it remains unprofitable on a TTM basis, carries significant debt, and trades on speculative hope rather than earnings. This article provides a realistic outlook on the GMR Airports share price target 2026–2030.
GMR Airports: Company Overview
- Parent: GMR Infrastructure Limited
- Managing Director: Mr. Grandhi Kiran Kumar
- NSE Symbol: GMRAIRPORT
- Core Business:
- Airport operations (Delhi, Hyderabad, Goa, Heraklion-Greece, Mactan-Philippines)
- Cargo, retail, and ground handling services
- Market Position: #2 private airport operator in India; Delhi IGI handles ~25% of India’s international traffic
GMR benefits from long-term concession agreements (30–40 years), high passenger growth, and strategic expansion into global aviation infrastructure.
GMR Airports: Key Financial Snapshot
| Metric | Value |
|---|---|
| Current Share Price | ₹95.10 |
| Market Capitalization | ₹1,00,415.86 Cr |
| No. of Shares Outstanding | 1,055.90 Cr |
| P/E Ratio (TTM) | Not applicable (negative EPS) |
| P/B Ratio | 1.89 |
| EPS (TTM) | –₹0.28 |
| Book Value (TTM) | ₹50.33 |
| ROE | –0.36% |
| ROCE | 1.25% |
| Dividend Yield | 0.00% |
| Face Value | ₹1 |
| Cash | ₹49.15 Cr |
| Debt | ₹8,643.86 Cr |
| Promoter Holding | 66.24% |
| Sales Growth (YoY) | 53.67% |
| Profit Growth (YoY) | 64.80%* |
*Note on “Profit Growth”: Despite reporting 64.80% YoY improvement, the company remains loss-making (Net Loss: ₹295 Cr in FY2025). The “growth” reflects reduced losses—not actual profit.
GMR Airports Share Price Target Forecast (2026–2030)
| Year | Target Price Range (₹) |
|---|---|
| 2026 | ₹102 – ₹115 |
| 2027 | ₹110 – ₹130 |
| 2028 | ₹118 – ₹148 |
| 2029 | ₹126 – ₹168 |
| 2030 | ₹134 – ₹190 |
Important: These targets assume successful debt restructuring, EBITDA breakeven by 2027, and no major regulatory setbacks. If execution falters, the stock could stagnate near ₹80–90.
GMR Airports Share Price Target 2026
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2026 | ₹102 | ₹115 |
GMR Airports reported 53.67% sales growth and narrowing losses in FY2025, driven by record passenger traffic at Delhi and Hyderabad airports. Trading at a P/B of 1.89x, the stock offers limited downside but lacks earnings support. The 2026 target range assumes continued traffic recovery and stable aeronautical yields.
GMR Airports Share Price Target 2027
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2027 | ₹110 | ₹130 |
If the company achieves EBITDA positivity and benefits from new retail and cargo monetization, sentiment may improve. However, no dividends or earnings are expected before 2028. The 2027 target is based on sentiment and asset value, not profits.
GMR Airports Share Price Target 2028
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2028 | ₹118 | ₹148 |
By 2028, if GMR completes its balance sheet repair and begins generating free cash flow from non-aeronautical revenue (duty-free, parking, lounges), the stock could re-rate modestly. However, debt remains high (Debt/Equity: ~15x).
GMR Airports Share Price Target 2029
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2029 | ₹126 | ₹168 |
Long-term tailwinds include:
- India’s air traffic is expected to double by 2030
- Privatization of 25+ regional airports
- Global airport acquisitions (e.g., Greece, Philippines)
If achieved, the stock could trade at 2.0–2.2x P/B.
GMR Airports Share Price Target 2030
| Year | Share Price Target 1 | Share Price Target 2 |
|---|---|---|
| 2030 | ₹134 | ₹190 |
Over a five-year horizon, GMR’s upside is capped by leverage and low ROCE. The ₹134–₹190 range assumes survival and minimal profitability—not market leadership.
GMR Airports: Shareholding Pattern
| Category | Holding (%) |
|---|---|
| Promoters (GMR Group) | 66.24% |
| Foreign Institutional Investors (FII) | 17.06% |
| Public & Retail | 11.87% |
| Domestic Institutional Investors (DII) | 4.83% |
High promoter holding ensures strategic continuity. Strong FII interest reflects confidence in global airport assets.
GMR Airports: Strengths vs Risks
Strengths:
- Monopoly-like position in Delhi and Hyderabad airports
- Long-term concession agreements (30–40 years)
- Exposure to the global aviation recovery
- CARE Ratings upgraded debt to ‘A’ (June 2025)
Risks:
- Negative book value per share in past years (now positive at ₹50.33)
- No path to profitability before 2027
- Extreme debt burden (₹8,644 Cr)
- Delisting risk if restructuring fails
Investment Suitability
| Factor | Assessment |
|---|---|
| Risk Profile | Very High |
| Ideal Time Horizon | 5+ years (speculative) |
| Volatility | Extremely High (penny stock behavior) |
| Dividend/Income Potential | None (0% yield) |
| Best For | Aggressive traders betting on India’s aviation revival; not for long-term investors |
Final Verdict
GMR Airports is a strategically important but financially fragile company. While traffic recovery is real, profitability remains distant.
Our GMR Airports share price target 2026–2030 (₹102 to ₹190) reflects cautious optimism—rooted in asset value but tempered by execution risk. This is not an investment—it’s a gamble on India’s aviation future.
Disclaimer: Price targets are estimates based on publicly available data and sector analysis. They are not investment advice. Consult a SEBI-registered advisor before making decisions.
Sources
- Screener.in – GMR Airports Consolidated Page (FY2025 + TTM)
- Finology Ticker – GMRAIRPORT Financials & Analysis
- Groww.in – GMR Airports Stock Profile
- Ministry of Civil Aviation – National Aviation Policy 2025
- CARE Ratings – GMR Debt Upgrade Report (June 2025)
