GMR Airports to Redeem ₹5,000 Crore NCBs by August 30

19 Aug 2025 , 12:35 PM

GMR Airports Limited on Monday (August 18) said it has served notice for the voluntary redemption of its non-convertible bonds (NCBs), in line with the provisions of the bond trust deed dated November 17, 2023.

The redemption will cover three tranches of bonds ₹1,950 crore, ₹800 crore, and ₹2,250 crore amounting to a total of ₹5,000 crore. The company confirmed that the bonds will be redeemed on or before August 30, 2025, with consent from bondholders as stipulated in the trust deed.

For the first quarter of FY26, GMR Airports reported a sharp rise in earnings. Revenue from operations surged 33.4% year-on-year to ₹3,205 crore. This is compared with ₹2,402 crore in the same period last fiscal. Operating performance also improved strongly, with EBITDA climbing 45.4% to ₹1,306 crore from ₹898 crore a year earlier. The EBITDA margin expanded to 40.7% in Q1FY26. This is up from 37.4% in the year-ago quarter.

The company noted that the quarter included several exceptional items such as creation and reversal of provisions against investments, profit on relinquishment of asset rights, interest waivers on borrowings, and disposal of investments. Exceptional item expenses during the period stood at ₹42 crore.

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