GMR looks to make money from airports it doesn't own

It is chasing global duty-free and commercial deals to counter stagnant domestic traffic

- Abhishek Law

GMR Airports Ltd is looking beyond the airports it operates—and outside India—to expand its non-aeronautical business and build a larger retail and commercial platform as passenger traffic growth slows, a company official said.

The country's largest airport operator, which runs airports at Delhi, Hyderabad and Mopa in Goa and plans to begin operations at Bhogapuram in Visakhapatnam and Nagpur, is evaluating prospects overseas, including in Europe, West Asia and North America, to generate non-aeronautical revenue at airports it does not own or operate.

"We have looked at opportunities in New Zealand, we have looked at opportunities in Europe and Finland," Saurabh Chawla, chief financial officer of GMR Airports, told Mint. "We are currently in some conversations and opportunities in the Middle East. As we speak right now, there is actually an opportunity in North America.”

Chawla said some of these opportunities could materialize over the next 12 months. "Because now we are a platform play, we are not limited to our airports itself,” he added.

Airports are increasingly relying on commercial businesses such as retailing, duty-free shops, food and beverage outlets, ads and real estate to drive growth that is less dependent on passenger traffic.