GMR AIRPORTS LIMITED has informed the Exchange about Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations ) Receipt of Letter of Intent to Award
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GMR Airports Limited has received a Letter of Intent to Award (LOIA) from its subsidiary Delhi International Airport Limited (DIAL) to develop and operate the Cargo City at Indira Gandhi International Airport, New Delhi. The project will be built on 50.5 acres (including an optional 10-acre parcel) and involves financing, designing, constructing, operating and maintaining cargo and logistics facilities for an initial period up to 2036, extendable by 30 more years. GMR has emerged as the selected bidder under a revenue share model with a Minimum Monthly Guarantee payable to DIAL, estimated at Rs. 415.74 crores in aggregate over the initial term. Since the award is from its own subsidiary DIAL, it qualifies as a related-party transaction done at arm's length with all required approvals in place.
This strengthens GMR Airports' cargo and logistics business at its flagship Delhi airport, adding a long-term revenue stream with extension potential. For shareholders, it signals expansion of non-aeronautical revenue, though the related-party nature means it was an internal award rather than an external contract win.