GMR Airports emerges winning bidder for managing Delhi airport's cargo terminal

New Delhi: GMR Airports Ltd has won the bid to manage the cargo terminal at the Delhi airport, nearly ten months after airport operator DIAL terminated its contract with Turkish entity Celebi.

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Delhi International Airport Ltd (DIAL), which operates the national capital's Indira Gandhi International Airport (IGIA), comes under GMR Airports. DIAL is a consortium led by the GMR Group.

In a regulatory filing on Friday, GMR Airports Ltd (GAL) said it has received a Letter of Award from DIAL for being the selected bidder to upgrade, modernise, finance, operate, manage and maintain the Cargo Terminal 1 at the airport.

"The project is based on the revenue share payment model to DIAL for an initial period of up to year 2036 with an estimated revenue share of Rs 340 crore in the first full year of operations," the filing said.

Other financial details were not disclosed.

Following a directive from the civil aviation ministry, DIAL, on May 15, 2025, terminated its cargo concession agreement Celebi. Since then, the concession work for the cargo terminal was given to GAL on an interim basis to ensure business continuity.

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In November last year, a competitive bidding process was initiated for awarding the cargo concession work and GAL emerged the winning bidder.

According to the filing, it is a related party transaction on arms-length basis.

"... promoter/promoter group/group companies of the company do not have any interest in the said transaction, other than their indirect shareholding in both DIAL and GAL," the filing said.

Shares of GAL fell 4.29 percent to close at Rs 89.25 apiece on the BSE on Friday, a day when the benchmark Sensex tumbled 1.93 percent.

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