GMR Hyderabad Airport arm acquires 70% in ESR logistics park, takes full control to boost airport land development

HYDERABAD: GMR Hyderabad International Airport Ltd (GHIAL), an arm of GMR Airports Ltd (GAL), acquired a 70% stake in ESR GMR Logistics Park for a consideration of ₹41 crore.

GMR Group now owns 100% of EGLPPL, as GMR Hyderabad Aerotropolis Ltd, a wholly owned subsidiary of GHIAL, already owned the rest 30% in EGLPPL.

GMR Group said it aims to accelerate airport land development in Hyderabad. GHIAL CEO Pradeep Panicker said consolidation will enable the company to fully integrate EGLPPL into their ALD strategy. Aman Kapoor, CEO, ALD, GMR Group, said acquisition will help group build an airport-led industrial and logistics ecosystem.