GMR Airports Share Price in Focus; Wins Bid for Cargo Terminal 1 Project at IGI Airport, Delhi

GMR Airports Ltd has received a Letter of Award from Delhi International Airport Ltd (DIAL) for the upgrade and operation of Cargo Terminal 1 at Indira Gandhi International Airport (IGI) in New Delhi. 

In a regulatory filing dated 13 March, the company said it has been selected as the bidder for the Delhi Cargo Terminal 1 concession. The project includes upgrading, modernising, financing, operating, managing and maintaining the cargo terminal.  

Project Structure and Timeline 

The concession will operate under a revenue-share model, where the operator will share a portion of the terminal’s revenue with DIAL. 

The initial concession period will run until 2036. GMR Airports has estimated that the revenue share payable to DIAL in the first full year of operations could be around ₹340 crore.  

Cargo terminals are an important part of airport infrastructure, handling freight for airlines, logistics operators and exporters. 

Background to the Tender 

Cargo operations at the airport were reorganised in 2025 following a directive from the Ministry of Civil Aviation. Based on this directive, DIAL terminated its earlier cargo concession agreement with Celebi on 15 May 2025. 

After the termination, the concession was assigned to GMR Airports on an interim basis to ensure continuity of cargo operations at the airport.  

Competitive Bidding Process 

DIAL later initiated a competitive bidding process in November 2025 in line with its concession agreement with the Airports Authority of India. 

GMR Airports participated in the process and was subsequently identified as the selected bidder. The Letter of Award was issued after the completion of the bidding process.  

Related-Party Transaction Disclosure 

The company said the concession is categorised as a related-party transaction because promoter group entities have indirect shareholding in both DIAL and GMR Airports. 

However, the company stated that the transaction has been carried out on an arm’s-length basis. It also noted that promoters or group companies do not have any direct interest in the transaction beyond their indirect shareholding.  

GMR Airports Share Price Performance  

As of March 13, 2026, 3:30 pm, GMR Airports Ltd share price closed at ₹89.60, a 3.96% decrease from the previous closing price. 

Read More: Salasar Techno Engineering Share Price in Focus; Faces LPG Supply Disruption Impact! 

Conclusion 

The concession formalises GMR Airports’ role in upgrading and operating Cargo Terminal 1 at IGI Airport under a revenue-share arrangement with DIAL for the period up to 2036 

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