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.
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 airport-linked real estate platform play and Nagpur/Bhogapuram additions.