GMR Airports Share Price Today (15 Dec 2025): GMRAIRPORT Near 52-Week High as Volume Picks Up — Latest News, Broker Targets, and What to Watch

Dec 15, 2025 — GMR Airports Ltd (NSE: GMRAIRPORT, BSE: 532754) is back in the market’s “busy runway” lane. The stock traded around the ₹105–₹106 zone on Monday, staying within striking distance of its 52-week high near ₹110.36—a level many traders now treat as the next big technical hurdle. ^[1]

But today’s story isn’t just price action. Investors are weighing a mix of traffic trends, tariff-driven earnings momentum at Delhi, a growing push into non-aero adjacencies (duty free, cargo, parking, real estate), and fresh focus on refinancing after reports that the company is preparing a long-tenor bond issue. ^[2]

GMR Airports stock on 15.12.2025: price, range, and volume snapshot

As of intraday trade on 15 December 2025, GMR Airports was indicated around ₹105.25, up roughly ~0.8% versus the previous close in some market snapshots, with an intraday band that included roughly ₹103.2–₹106.9. ^[3]

A few key “today” markers traders are watching:

52-week range: about ₹67.75–₹110.36, putting the stock roughly ~4–5% below its yearly peak. ^[4]
Liquidity/participation: multiple trackers flagged elevated volumes, including one “stocks in action” report citing ~9.33 million shares traded and value around ₹98 crore. ^[5]
Other market datasets for the session also show tens of millions of shares in combined turnover (depending on the source and timestamp). ^[6]

That “near-the-high” positioning matters because airport operators tend to trade on multi-quarter narratives (traffic + yields + leverage), not just single headlines. Today’s action looks like the market continuing to price in a thesis that FY26 could be a better earnings runway than FY25—especially if Delhi normalises after disruptions and financing costs cool. ^[7]

Why GMR Airports shares are in focus: the business drivers behind the tape

Over the past quarter, three themes show up repeatedly across company disclosures and broker commentary:

1) Tariff and yield uplift at Delhi (and “normalisation” after disruptions)

GMR Airports’ Q2 FY26 materials highlight that Delhi (DIAL) saw aero revenues jump after revised tariffs, while traffic had been pressured by temporary disruptions linked to airspace/geopolitical issues and runway work. ^[8]

The runway upgrade itself is no small footnote: the company notes the upgraded Runway 10/28 was reopened for regular operations from 16 Sep 2025, and an upgraded Terminal 2 was inaugurated 25 Oct 2025—both aimed at easing operational constraints and supporting a rebound. ^[9]

2) Non-aero expansion: duty free, cargo city, and “airport adjacency” strategy

GMR Airports has been explicit about expanding beyond traditional aeronautical charges into higher-margin (and often stickier) adjacency revenues:

Delhi Duty Free: takeover process completed in July 2025, with operations beginning 28 Jul 2025. ^[10]
Hyderabad Duty Free: operations began 10 Sep 2025 after takeover. ^[11]
Delhi Cargo City: the group received an LOI and signed a concession to develop and operate a cargo city over 50.5 acres within IGI Airport, with an initial concession period up to 2036 (extendable) and an estimated minimum-guarantee-based revenue share to DIAL of ~₹416 crore over the initial period. ^[12]

In plain English: the company is trying to become not just an “airport toll collector,” but an airport commerce platform—where passengers, cargo, retail, parking, and real estate all feed the revenue stack. ^[13]

3) Refinancing and cost of capital: a recurring catalyst (and risk lever)

Leverage is a defining feature of airport infrastructure economics. The company has described refinancing actions including raising ₹59 billion via non-convertible bonds and refinancing debt at both the listed entity and subsidiary level. ^[14]

More recently, Reuters reported the company was set to raise about ₹22 billion via 15-year bonds, with proceeds intended to refinance debt at another group entity (GMR Hyderabad International) and for general corporate purposes. ^[15]

If priced well, longer-tenor local debt can smooth the maturity profile and reduce currency/rollover stress. If priced poorly—or if rates move against the firm—financing remains a pressure point. The market will watch the terms closely. ^[16]

Traffic check: October 2025 update shows resilience, but with a mixed mix

For airport stocks, traffic is the heartbeat—but the composition of traffic (domestic vs international, metro vs leisure, cargo, and peak-hour congestion) often determines the margin story.

In its October 2025 traffic update, GMR Airports reported:

YTD FY26 passenger traffic (ex-Cebu): ~68.1 million, with overall growth ~0.3% YoY (as presented in the update). ^[17]
The same update flagged domestic traffic down ~0.4% YoY while international traffic up ~2.5% YoY (key highlights section). ^[18]

Airport-level October passenger traffic in that report included approximately:

Delhi: ~6.52 million (Oct), with YTD showing a YoY decline in the update
Hyderabad: ~2.60 million (Oct), with YTD growth shown as double-digit
Mopa (Goa): ~0.45 million (Oct), with strong YoY growth off a smaller base ^[19]

The same document explicitly links earlier softness to temporary disruptions (including runway work and changed airspace conditions), and it notes operational milestones like runway reopening and Terminal 2 upgrades as forward positives. ^[20]

One more nuance buried in the fine print: the update notes that Cebu divestment has been completed, but the company will operate as the technical services provider until Dec 2026—a reminder that portfolio shaping is still underway. ^[21]

Q2 FY26 financials: strong operating performance, but read the “attributable” line carefully

GMR Airports’ consolidated results for the quarter ended 30 Sep 2025 (Q2 FY26) show a sharp operational improvement:

Revenue from operations:₹3,669.99 crore (vs ₹2,495.46 crore in Q2 FY25) ^[22]
EBITDA:₹1,531.42 crore (vs ₹961.80 crore in Q2 FY25) ^[23]
Profit before tax:₹103.14 crore, compared with a loss in the year-ago quarter ^[24]
Profit after tax (overall):₹35.06 crore ^[25]

However, the shareholder headline can differ from the “overall” number because of non-controlling interest (NCI). In the same statement, the loss attributable to owners of the company is shown at ₹37.09 crore for the quarter—even though consolidated profit after tax is positive—because NCI absorbs a larger profit share in that period. ^[26]

This is why different market headlines have looked contradictory: one can truthfully say “PAT positive,” and another can truthfully say “loss attributable to shareholders,” because both appear in the same consolidated statement. ^[27]

Broker forecasts and price targets: BofA, Jefferies, and consensus views

BofA initiates with a “Buy” and a high-end target

In early December, NDTV Profit reported Bank of America (BofA) initiated coverage with a Buy rating and a ₹128 target price, implying roughly ~21% upside from then-current levels. The report also said BofA expects around 25% EBITDA CAGR from FY25 to FY29, and values the stock using an adjusted EV/EBITDA approach (including regulatory adjustments and land value considerations). ^[28]

BofA’s cited catalysts included regulatory clarity and execution on non-aero/real estate strategies, while also flagging risks such as potential traffic disruption from a competing airport (e.g., Noida) and regulatory reset risks. ^[29]

Jefferies raises target after Q2, lifts EBITDA estimates

Jefferies also turned constructive post-results. ET Now reported Jefferies raised its target to ₹115 from ₹108, and revised FY26–FY28 EBITDA estimates upward by 3–7%, pointing to tariff effects, non-aero momentum, and adjacency expansion (duty free, cargo, car parks). ^[30]

Consensus targets look more modest, but still positive

Aggregated platforms tracking analyst targets show a more conservative “middle of the runway”:

Trendlyne displayed an analyst price target around ₹109 with 5 analysts, implying a small single-digit upside from the ~₹105 zone. ^[31]

In other words: the optimism exists, but consensus is not (yet) pricing in a straight-line sprint to the highest targets—suggesting the market wants continued proof on traffic normalisation, non-aero execution, and financing discipline. ^[32]

What to watch next: the near-term catalysts for GMR Airports stock

Here are the datapoints most likely to move GMRAIRPORT from here, based on current disclosures and commentary:

Monthly traffic and the Delhi “rebound” narrative

With the runway upgrade and Terminal 2 work largely in place by late Q2, investors will watch whether Delhi’s passenger trajectory improves, and whether international growth continues to outpace domestic. ^[33]

Non-aero ramp: duty free and cargo city monetisation

The duty-free takeovers (Delhi and Hyderabad) and the Cargo City concession can shift the earnings mix over time—potentially supporting margins if execution is tight and passenger spending holds up. ^[34]

Refinancing outcomes and interest cost gravity

Even in a good quarter, finance costs remain a large line item in the consolidated statement. Any further refinancing—especially if it extends tenor and improves cost—can change the equity narrative meaningfully. ^[35]

Regulatory and legal overhangs

One audit note draws attention to litigation involving DIAL and AAI over the Monthly Annual Fee (MAF) during the force majeure period, with the company describing a favourable arbitration award and subsequent court developments, while an appeal process continues. These issues can matter because the amounts involved could be financially material depending on outcomes. ^[36]

Bottom line for 15 Dec 2025

GMR Airports stock is trading like a company the market believes is mid-transition: from traffic-recovery cycles to yield-led earnings, from pure aeronautical exposure to adjacency monetisation, and from complex debt stacks toward cleaner refinancing.

The stock’s position near the 52-week high and the jump in trading activity on 15 December 2025 reflect that investors are actively repricing that transition. ^[37]

The next leg—up or down—likely depends less on “airport sector vibes” and more on a few measurable things: traffic trajectory, non-aero execution, and how convincingly financing costs come down without introducing new risks. ^[38]