New Delhi, March 13 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 the Turkish entity Celebi.
Delhi International Airport Ltd (DIAL), which operates the national capital's Indira Gandhi International Airport (IGIA), falls 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, modernize, finance, operate, manage, and maintain Cargo Terminal 1 at the airport.
"The project is based on a revenue-sharing payment model with DIAL for an initial period of up to 2036, with an estimated revenue share of ₹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 terminated its cargo concession agreement with Celebi on May 15, 2025. Since then, the concession work for the cargo terminal has been given to GAL on an interim basis to ensure business continuity.
In November last year, a competitive bidding process was initiated for awarding the cargo concession work, and GAL emerged as the winning bidder.
According to the filing, it is a related-party transaction at arm's length.
"...the 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 per cent to close at ₹89.25 apiece on the BSE on Friday, a day when the benchmark Sensex tumbled 1.93 per cent.