GMR Airports plans ₹19,400 cr for Delhi Hyderabad upgrades
Big news for travelers: GMR Airports, India's busiest airport operator, said it is planning to spend ₹19,400 crore ($2 billion) to expand and modernize both Delhi and Hyderabad airports.
The upgrades will roll out over the next five to seven years as air travel in India keeps booming.
Saurabh Chawla, GMR Airports's executive director for finance and strategy, says this investment is all about keeping up with demand.
India passenger numbers to rise sixfold
India's aviation scene is exploding, with passenger numbers expected to jump six times in the next 14 years.
Hyderabad airport alone will get a huge boost, from handling 34 million people a year to 80 million!
GMR says these projects are being funded through a mix of debt and equity but isn't getting into the airline business; they're sticking with airports.
This move also heats up their rivalry with Adani Group, which has its own big airport plans on the horizon.