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GMR Airports Infrastructure Limited, formerly known as GMR Infrastructure, is engaged in the development, operation and maintenance of airports. It also offers integrated security solutions. The company's airport portfolio comprises of three operational assets – Delhi International Airport, Hyderabad International Airport and Mactan Cebu International Airport in The Philippines. The company operates through RAXA Techno Security Solutions for managing the security solutions.

Business operations

The company was originally incorporated as a public limited firm with the name Varalakshmi Vasavi Power Projects Ltd in 1996. It started with the power sector, signing a power purchase agreement for its Chennai power plant and then the Mangalore power plant. It started commercialising the first generator at the Chennai plant in 1998. The company was renamed GMR Vasavy Infrastructure Finance Ltd a year later before getting the name GMR Infrastructure in 2000.

In 2003, GMR was selected for the development of Hyderabad International Airport. The company signed a project development agreement for the Alaknanda Hydro Project in 2005.

In 2006, GMR Airports took over the operations of the Delhi International Airport Project. The same year, the company came out with the initial public offer and its shares were listed on BSE and NSE.

The company bagged the rights for developing the new Greenfield Airport in Goa in 2016 and the New Heraklion International Airport in Greece in 2017.

GMR Airport Infra also secured the concession for the development, operations and management of Bhogapuram Airport in Andhra Pradesh.

The company’s subsidiary GMR Airports Netherlands BV signed an agreement for the development and operation of Kualanamu International Airport (Project) in Medan, Indonesia.

GMR Airport Infra is currently engaged in the development of unique airport cities on the commercial lands available around its airports in Delhi, Hyderabad and Goa.

The company has teamed up with Groupe ADP, a leading international airport operator, giving it a 49% stake in GMR Airports Limited (GAL). The partnership aims to create the largest and most responsible airport alliance globally.

GMR formed RAXA Techno Security Solutions intending to deliver cost-effective and comprehensive security solutions. The exclusive RAXA Training Academy paves the way for building a pool of qualified security professionals. RAXA offers a complete spectrum of security solutions, including the installation and maintenance of intrusion detection systems, CCTV surveillance systems and access control systems.

The market capitalisation of GMR Airports Infrastructure Ltd stood at over ₹48,600 crore as of December 30, 2023. GMR Airport Infra share price has grown over 200% in the last three years.

Financial highlights

• The company reported a total income of ₹7,289 crore in FY23, up from ₹4,959 crore in FY22.
• The company narrowed down the net loss to ₹839.93 crore in FY23 as against a loss of ₹752.31 crore in FY22.
• Its EBITDA (earnings before interest, tax, depreciation and amortisation) stood at ₹1,723.79 crore in FY23 compared to ₹2,102.57 crore in FY22.
• Total assets grew to ₹44,111 crore compared to ₹37,110 crore.
• The company's earnings per share (EPS) in FY23 stood at ₹0.02.