GMR Airports Limited (GAL), formerly known as GMR Airports Infrastructure Limited, has officially commenced duty-free operations at Indira Gandhi International (IGI) Airport, New Delhi, effective 00:00 hours on July 28, 2025. This development follows the company’s earlier announcement made on August 21, 2024, when GMR was declared the Selected Bidder for the Delhi Duty Free Concession.

The company subsequently entered into a License Agreement on the same date—August 21, 2024—granting it the authority to develop, operate, manage, and maintain duty-free retail spaces at one of India’s busiest airports.

GMR's Role in Delhi Duty Free Concession

With this new operational milestone, GMR Airports Limited now becomes the official duty-free operator at IGI Airport’s international terminals, marking a strategic expansion of its non-aeronautical revenue streams. The license grants the company exclusive rights to duty-free retailing, offering travelers a curated selection of international and domestic brands, luxury goods, spirits, cosmetics, and more.

Background and Strategic Importance

The announcement made on August 21, 2024, detailed GMR’s emergence as the Selected Bidder for this high-value concession. The Delhi Duty Free Concession is regarded as one of the most prestigious and high-traffic retail opportunities in Indian aviation, owing to IGI Airport's rank as the busiest airport in the country and one of the top ten globally by passenger volume.

By securing this concession, GMR has taken a significant step towards expanding its retail and commercial footprint across airport operations, aligning with its broader strategy to diversify revenue streams beyond aeronautical income.

Operational Details

As of midnight, July 28, 2025, all operations at duty-free outlets across international departure and arrival terminals at IGI Airport have been formally taken over by GMR Airports Limited. The operational scope includes:

• End-to-end management of retail spaces at IGI’s international terminals.

• Integration of technology-driven sales and inventory platforms.

• Enhancement of passenger shopping experience with global retail partnerships.

• Offering premium goods in categories such as liquor, perfumes, fashion, electronics, and Indian souvenirs.

The initiative also includes back-end systems such as customs coordination, logistics, and supply chain efficiency, to ensure seamless operations and compliance.

About GMR Airports Limited

GMR Airports Limited, a core subsidiary of the GMR Group, is a leading private airport operator in India and globally. The company operates key airports such as:

• Delhi International Airport (IGI)

• Hyderabad International Airport

• Mopa International Airport (Goa)

• Crete Airport (Greece) (under development)

Known for delivering world-class infrastructure and passenger experience, GMR Airports has continually evolved to include retail, hospitality, cargo, and commercial real estate as part of its airport ecosystem.

Vision and Forward Strategy

The launch of duty-free operations at IGI Airport represents a major milestone in GMR’s ongoing commitment to enhancing customer experiences and revenue diversification. The global airport retail market has witnessed strong post-pandemic recovery, and GMR is positioning itself at the intersection of aviation and retail growth.

The company aims to:

• Boost non-aero revenues through premium retail channels.

• Leverage footfalls at IGI Airport, which serves over 70 million passengers annually.

• Introduce innovation and digitization in airport retail experiences.

• Align duty-free offerings with global airport retail standards.

Regulatory Compliance and Public Disclosure

The latest disclosure has been made pursuant to Regulations 30 and 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, affirming GMR’s commitment to transparency, good governance, and shareholder information.

Key identifiers:

• BSE Equity Scrip Code: 532754

• Debt Scrips: 975210, 975256, 975366, 976449, 976601

• NSE Symbol: GMRAIRPORT

The update was submitted by Mr. T. Venkat Ramana, Company Secretary and Compliance Officer of GMR Airports Limited.

Conclusion

With the successful launch of duty-free operations at Delhi Airport, GMR Airports Limited is now poised to lead India's airport retail segment. This move strengthens its position as a globally competitive airport operator, reinforces its commercial capabilities, and ensures value creation for stakeholders across the aviation and retail landscape.

Passengers can now look forward to a modern, seamless, and world-class shopping experience at IGI Airport, powered by GMR’s operational expertise and international partnerships.

The company’s strategic transformation of airport retail spaces marks a new chapter in its journey, reflecting its ability to adapt, expand, and deliver excellence in every aspect of airport management.

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