GMR AIRPORTS LIMITED (GMRAIRPORT)

GMR Airports reported a flat monthly passenger traffic growth of 0.9% YoY to 9.24 million passengers in September 2026 across its portfolio (excluding Cebu). For H1 FY27, total passenger traffic reached a record 58.21 million passengers (up 0.5% YoY), led by steady domestic traffic growth at Delhi Airport (+5.0% in H1). However, significant traffic declines were observed at Hyderabad (-12.7% YoY in Sep) and Goa Mopa (-26.9% YoY in Sep), partly due to airline route rationalizations and geopolitical flight disruptions.

• September 2026 total passenger traffic (excl. Cebu) rose 0.9% YoY to 9,240,144 passengers.
• H1 FY27 total passenger traffic reached a record 58,212,317 passengers, up 0.5% YoY.
• Delhi Airport passenger traffic rose 2.7% YoY in Sep'26 to 5,993,880 and reached 38,502,558 in H1 FY27 (+5.0% YoY).
• Hyderabad Airport traffic fell 12.7% YoY in Sep'26 to 2,083,802 passengers, while Goa Mopa dropped 26.9% YoY to 286,656 passengers.
• Cargo throughput at Delhi hit 1.11 lakh MT in Sep'26 and 6.3 lakh MT in H1 FY27 (up 12.2% YoY).

GMR Airports Limited has incorporated a wholly owned subsidiary named GMR Aero Realty Limited (GARL) on October 13, 2026. GARL has an initial subscribed and paid-up capital of ₹1 Crore, comprising 10,00,000 equity shares of ₹10 each. The new entity will focus on real estate, land development, and related opportunities across the group's land assets. Relative to GMR's net worth of ₹59,564 Cr and TTM revenue of ₹14,807 Cr, the initial investment is minor, but it aligns with the company's broader strategy to monetize its ~2,500 acres of real estate.

• Incorporated wholly owned subsidiary GMR Aero Realty Limited (GARL) on October 13, 2026
• Initial subscribed and paid-up share capital stands at ₹1 Crore
• Capital divided into 10,00,000 equity shares of ₹10 each
• Formed to undertake Real Estate, Land Development, and other related opportunities

GMR Airports Limited announced that Mr. Alexis Benjamin Riols has resigned as Executive Director and Deputy CEO effective October 08, 2026. This follows co-promoter Group ADP's withdrawal of his executive nomination due to internal organizational changes at Group ADP. Mr. Riols will continue on the board as a Non-Executive, Non-Independent Director. Group ADP has nominated a replacement, whose appointment will be submitted for approvals in due course.

• Resignation effective from October 08, 2026
• Co-promoter Group ADP withdrew nomination following internal organizational changes
• Continues on the Board as a Non-Executive, Non-Independent Director
• Replacement nominated by Group ADP, pending regulatory/board approvals

GMR Airports Limited has approved the allotment of 10,20,00,000 equity shares of Re. 1/- each following the conversion of 25,50,000 Optionally Convertible Redeemable Preference Shares (OCRPS) held by GMR Infra Services Private Limited (GISPL, an Aeroports de Paris subsidiary). The OCRPS of Rs. 40/- each were convertible into 40 equity shares of Re. 1/- each under the Composite Scheme effective July 25, 2024. The newly allotted shares represent 0.96% of the company's post-allotment equity capital. Following this conversion, GISPL still retains a significant portion of its original 2,60,44,40,880 OCRPS.

• Allotment of 10,20,00,000 equity shares of Re. 1/- each upon conversion of 25,50,000 OCRPS
• Conversion ratio applied: 1 OCRPS (face value Rs. 40/-) converts into 40 equity shares of Re. 1/- each
• Allotted shares constitute 0.96% of the post-allotment equity share capital
• Part of the Scheme of Amalgamation effective July 25, 2024, where GISPL was originally issued 2,60,44,40,880 OCRPS

GMR Airports Limited's subsidiary, GMR Hospitality Limited (GHL), has been selected to operate and manage F&B outlets at Delhi Airport Terminal 3 through May 2036, with an option to extend by 10 years. Under the license agreement with fellow subsidiary Delhi International Airport Limited (DIAL), GHL will pay estimated aggregate license fees of ~Rs 49 crore for FY27 and ~Rs 109 crore for FY28. The agreement operates on a revenue-share model with a Minimum Monthly Guarantee and advertisement fees, executed on an arms' length basis.

• License awarded to GHL for F&B operations at Delhi Airport Terminal 3 up to May 2036, extendable by 10 years
• Estimated license fee payable to DIAL is ~Rs 49 crore in FY27 and ~Rs 109 crore in FY28
• Model involves revenue share with a Minimum Monthly Guarantee (MMG) plus advertisement fees
• Transaction is an intra-group related party transaction between two Indian subsidiaries (GHL and DIAL)

GMR Airports Limited announced that all 8 resolutions presented at its 30th Annual General Meeting on September 21, 2026, were passed with requisite majority. Key approvals included an enabling special resolution to raise funds via Qualified Institutions Placement (QIP) and/or FCCB, approved by 99.94% of votes cast. Shareholders also approved material related-party transactions with subsidiary Delhi International Airport Limited for FY27 with 99.83% approval. The meeting saw 9.75 billion valid votes cast across e-voting and AGM instapoll out of a shareholder base of 682,995 folios.

• Resolution 7 for fundraise via QIP/FCCB approved with 9,74,55,72,615 votes in favour (99.94%)
• Material related-party transactions with Delhi International Airport Limited passed with 99.83% votes in favour
• Adoption of FY26 financial statements and director re-appointments approved with overwhelming majorities
• Total number of registered shareholders stood at 682,995 as of the record date of September 14, 2026

GMR Airports Limited conducted its 30th Annual General Meeting on September 21, 2026, covering eight key ordinary and special resolutions. Key proposals tabled for shareholder approval included raising funds via QIP/FCCBs and approving material related-party transactions with Delhi International Airport Limited for FY 2026-27. Additionally, the AGM addressed the declaration of dividend on 6,51,11,022 unlisted non-cumulative preference shares of INR 40 each. Formal voting outcomes will be disclosed separately per SEBI regulations.

• 30th Annual General Meeting conducted virtually on Monday, September 21, 2026.
• Proposed dividend on 6,51,11,022 unlisted 0.001% non-cumulative optionally convertible redeemable preference shares of INR 40/- each.
• Enabling special resolution tabled for fund raising via Qualified Institutions Placement (QIP) and/or FCCBs.
• Shareholder approval sought for material related party transactions with subsidiary DIAL for FY 2026-27.
• Remote e-voting took place between September 17, 2026 and September 20, 2026.

GMR Airports Limited informed the stock exchanges that Niche Ninety Nine Capability and Certifications (OPC) Private Limited has assigned the company an ESG Ratings Score of 74.41. The company clarified that it did not engage Niche for the rating or report, noting that it was independently prepared by the agency. This is an informational disclosure under SEBI LODR Regulations 30 and 51, with no direct financial impact on the company's ₹14,807 crore TTM revenue base.

• Niche Ninety Nine Capability and Certifications assigned an ESG Ratings Score of 74.41
• GMR Airports clarified it did not engage or commission Niche for the rating or report
• Filing submitted under Regulations 30 & 51 of SEBI LODR Regulations, 2015 on September 18, 2026

GMR Airports reported handling 9.44 million passengers across its portfolio in August 2026, representing a marginal 0.9% YoY increase. Delhi Airport continued to be the primary growth driver, serving 6.08 million passengers (+2.7% YoY) and handling a record 1.1 lakh MT of cargo. Conversely, passenger volumes saw steep declines at Hyderabad (-11.5% YoY to 2.19 million) and Mopa Goa (-22.8% YoY to 0.29 million). Operationally, the new greenfield Bhogapuram Airport commenced commercial operations on August 17, 2026, handling 1.05 lakh passengers in its first two weeks.

• Total passenger traffic reached 9.44 million in August 2026, up 0.9% YoY, while YTD FY27 traffic crossed 48.97 million (+0.4% YoY)
• Delhi Airport handled 6.08 million passengers (up 2.7% YoY) and record monthly cargo volume of ~1.1 lakh Metric Tonnes
• Hyderabad Airport traffic dropped 11.5% YoY to 2.19 million passengers, alongside a 14.2% drop in aircraft movements
• Mopa (Goa) traffic contracted 22.8% YoY to 0.29 million passengers, though rose 4.5% MoM
• Commercial operations at greenfield Bhogapuram Airport began on 17 August 2026, recording 105,171 passengers through month-end

GMR Airports Limited has notified the exchanges regarding its scheduled participation in the 2026 Jefferies India Forum. The conference will take place in Gurugram, Haryana from September 17 to September 18, 2026. Management is slated to conduct one-on-one and group meetings with institutional investors. The company affirmed that no unpublished price sensitive information (UPSI) will be shared.

• Participation scheduled for September 17, 2026 to September 18, 2026
• Attending the 2026 Jefferies India Forum in Gurugram, Haryana
• Format includes both One-on-One and Group meetings with several investors
• Company confirmed no Unpublished Price Sensitive Information (UPSI) will be disclosed

GMR Airports Limited has approved the private placement issuance of up to 1,50,000 listed, unsecured, rated, redeemable Non-Convertible Bonds (NCBs) aggregating up to ₹1,500 crore. The bonds carry a coupon rate of 5% per annum, payable annually, with a tenure of up to 36 months. The entire proceeds are earmarked for refinancing existing NCBs of an equivalent amount of up to ₹1,500 crore. Relative to the company's total debt of ₹11,153 crore, this refinancing represents approximately 13.4% of total borrowings.

• Approved issuance of up to 1,50,000 listed, unsecured, rated NCBs aggregating up to ₹1,500 crore
• Coupon rate fixed at 5% per annum, payable annually, with maturity at a redemption premium
• Tenure of the instrument is up to 36 months
• Proceeds dedicated entirely to refinancing existing NCBs of up to ₹1,500 crore
• Face value per bond stands at ₹1 Lakh