GMR AIRPORTS LIMITED has informed the Exchange about Intimation under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
GMRAIRPORT · price
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Delhi International Airport Limited (DIAL), a subsidiary of GMR Airports, won a favourable ruling from the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) on July 1, 2025. The tribunal quashed and set aside the earlier Hypothetical Regulated Asset Base (HRAB) calculation done by the Airports Economic Regulatory Authority of India (AERA) for the first control period (April 2009 – March 2014). TDSAT has directed AERA to recalculate the HRAB value afresh as on April 1, 2009, based on the tariff components in the State Support Agreement between the Government of India and DIAL. The fresh HRAB value is expected to positively impact DIAL during the upcoming tariff true-up exercise. However, AERA may still appeal the order to the Supreme Court, leaving some uncertainty around the final outcome.
Positive for GMR Airports shareholders in the medium term, as a higher HRAB could translate into higher aeronautical tariffs and better earnings for DIAL. However, the benefit is contingent on AERA's recalculation and any further appeal, so the upside is not yet locked in.