Hyderabad Airport expansion works near completion; to increase capacity to 34 million passengers

As of January 25, 2024, the progress has further advanced to 99.4 per cent. The report indicates that the ongoing expansion at RGIA is slated to conclude by March 2024

Hyderabad: The expansion works at Rajiv Gandhi International Airport (RGIA) are on the verge of completion, with 98.7 per cent progress achieved as of December 31, 2023, per GMR Airports Infrastructure Limited’s Q3FY24 report, aiming to increase capacity from 12 million to 34 million passengers.

As of January 25, 2024, the progress has further advanced to 99.4 per cent. The report indicates that the ongoing expansion at RGIA is slated to conclude by March 2024.

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The Q3FY24 report (October to December 2023) highlighted the airport’s robust performance in passenger traffic. Passenger traffic witnessed a commendable surge, reaching 6.3 million, marking a significant 17 per cent year-on-year increase from 5.4 million in Q3FY23. The growth was fueled by a 16 per cent rise in domestic traffic and a substantial 22 per cent increase in international traffic during Q3FY24.

On a broader scale, the airport handled 18.6 million passengers in the first nine months of FY24, reflecting a remarkable 21 per cent year-on-year growth.

In terms of financials, RGIA reported a total income of Rs 496 crore in Q3FY24, indicating a substantial 35 per cent YoY increase from Rs 368 crore in Q3FY23. On a nine-month basis, the total income witnessed a robust growth of 48 per cent, reaching Rs 1,472 crore in 9MFY24.

Notably, RGIA has significantly expanded its connectivity, connecting 66 domestic destinations (compared to 55 pre-covid) and 19 international destinations (compared to 16 pre-covid).

The report also delved into the non-aero revenues, which demonstrated a robust growth of 29 per cent year-on-year, amounting to Rs 4.2 billion. Retail revenues soared by 32 per cent, reaching Rs 1.3 billion, with Duty-Free Sales Per Passenger (SPP) at Rs 665 in 9MFY24, compared to Rs 606 in 9MFY23.

Food & Beverage (F&B) revenues increased by 30 per cent to Rs 685 million, car–ark revenues saw a 19 per cent YoY growth, reaching Rs 807 million, and advertisement revenues experienced a substantial 58 per cent YoY surge, reaching Rs 482 million. Site occupancy also improved, reaching 51 per cent in 9MFY24 compared to 48 per cent in 9MFY23.