The target suggests an upside potential of around 20% from Friday’s closing price.
Macquarie believes GMR Airports is well-positioned to benefit from rising premium travel demand across India, with its key gateway airports serving as important consumption hubs rather than just transit points.
According to the brokerage, the company’s airport ecosystem enables it to generate additional revenue from retail outlets, duty-free operations and other passenger-facing businesses, helping boost non-aeronautical income.
The brokerage also mentioned GMR’s sizeable land portfolio as a potential long-term value driver. It sees opportunities for commercial development around airport assets, which could support future earnings growth and broaden the company’s revenue streams.
Macquarie expects GMR Airports to deliver an EBITDA compound annual growth rate (CAGR) of 18% between FY26 and FY29.
According to Bloomberg consensus data, seven analysts currently track the stock. Of these, six have a ‘Buy’ recommendation, while one analyst has a ‘Hold’ rating.
Shares of GMR Airports were trading 3.18% higher at ₹106.95 on Monday. The stock has advanced around 11% over the past month.
