JM Financial sees profitability ahead for India's GMR Airports; starts with 'buy'

GMR Airports (India)

22/12/2025 07:07

** Brokerage JM Financial initiates coverage on India's GMR Airports GMRI.NS with "Buy" rating; sets PT at 120 rupees

** Shares of GMRI up nearly 1% to 102 rupees

** Says co could witness positive PAT and strong growth in profitability over FY26-28 as it exits a capex-intensive phase

** Sees co benefitting from Indian consumers' rising affluence and increasing air travel

** Adds co has its presence in two of the critical airports Delhi and Hyderabad

** Says  GMRI only listed entity at present, and benefits from investor interest in this space till other
entities list on the stock exchanges

** GMRI rated "Strong buy" on avg by 7 analysts covering it; median PT at 115 rupees - data compiled by LSEG

** YTD, GMRI up 30%

 (Reporting by Komal Salecha)

 ((Komal@thomsonreuters.com;))